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What are Business Intelligence tools?
The American historian Richard Miller Devens created the term “business intelligence” in 1864. From a basic setup of pen and paper, business intelligence tools today have evolved into complex application software programs that collate, analyze and present vast amounts of raw data into an easily understood format required by a company.
Business intelligence tools are usually “query-based” and help companies prepare reports and other visualizations of the collected data after analysis. The data can be specific to the company (sales, production, marketing, financials) and can also be extended to cover macro-areas such as competitors, market information, and distribution channels.
Note that we will use the term “software” for “tools” from this point onwards.
Business Intelligence software is used to present data to enable companies to improve their strategic decision-making capabilities and offer a competitive advantage to help companies forecast trends and react to situations faster and better. The software or systems can vary in complexity from a simple spreadsheet to complex systems that integrate multiple functions – data collection, analysis, and visual representation.
What is open-source business Intelligence (OSBI)?
Open-source business intelligence is the crucial information about the company that is required for the company’s business growth. Software for open-source business intelligence is designed to pull out the necessary data from various sources and present it to business owners. The sources can be XML data sources, relational databases, or other data pools.
Proprietary v/s Open-Source Business Intelligence software
Proprietary business intelligence software solutions belong to the companies that created them and are sold to user companies through a license with specific use and period definitions. However, these solutions do not allow companies to adapt or modify the source code and can become obsolete after a certain time, requiring expenses on regular updates or replacements.
OSBI software, on the other hand, is white-label software. It is therefore much more flexible and open to adaptations by the users.
What are the key features of open-source business intelligence software?
It is important to note here that OSBI software is NOT free software, in the software sense of the term “free” (the freedom to open the source code and to share it with others). OSBI software has to meet some specific parameters such as the possibility of redistribution, public accessibility of the source code, the possibility of modifying and distributing in other formats and should integrate with other software.
There are multiple options for open-source business intelligence software. However, the following features are more or less mandatory for any open-source business intelligence software:
1. Dashboards: Allow users to check, monitor, and analyze data across various departments or services and can present real-time data
2. Interactive reporting: Users should have the ability to create, compare and share data across different platforms such as desktop computers or mobile devices
3. Self-service reporting: This allows users to make critical decisions based on their reports. There is a reduced need for expert IT assistance in the generation of reports
4. What-If analysis: Predictive analysis to determine responses to, or effect of, developments within the company and externally
5. Data visualization: This helps users present data as charts, graphs, or other visual methods to summarize essential information and decisions
6. Mobile access: Flexible access to the data, analyzes, and reports on a mobile device is a crucial feature of business intelligence software in today’s business environment.
Parameters for selecting an Open-Source Business Intelligence Software
1. Identify and collate requirements
a. Ranking them in descending order of importance
2. Identify and select suitable vendors
a. Based on their performance of the KPIs generated in Step 1
3. Request a proposal
a. Including a quote, a demonstration, and a trial
What are the pros and cons of OSBI software?
Now that we have examined some of the main OSBI software options in the market, let us explore the pros and cons of this software:
PROS of OSBI software
- Fewer setup costs
a. Most OSBI software platforms are either at no cost or a considerably lower cost than proprietary software. The basic modules are usually free, and additional modules can be purchased. However, OSBI software is inherently open to modification; the companies just need the in-house ability to do so.
b. Companies can also choose a combination of “freeware” (no-cost software) and open-source codes to get a greater cost advantage. - Flexibility
a. OSBI software is mainly “raw code,” Hence, the users can modify it to their requirements to match particular industry specifics.
b. The software can also be changed if a module doesn’t work, is outdated, or when additional modules are required. - Possibility of customization
a. OSBI software can be customized in-house to the user’s exact specifications, unlike proprietary software, which is like a sealed vault, and any customization can be expensive.
b. Customization also enables the users to change the software as quickly as they want. - Integration with other software
a. The user is in complete control of the OSBI software, and so it can be programmed to be integrated with or embedded into other applications.
b. The OSBI software can be matched with other applications in appearance so that there is seamless integration. - Possibility of regular updates
a. As a white-label product, OSBI software can be updated as per the user’s requirements since the user owns the source code.
b. The user can also check how these updates will match the customization that may have been implemented.
CONS of OSBI software
- Maintenance
a. Proprietary software has repairs and maintenance built into the license or agreement and is the responsibility of the vendor.
b. OSBI software has to be maintained at the company’s own costs and may require a whole team of qualified personnel which can be expensive in terms of salaries and benefits. - Higher long-term costs
a. OSBI software may be cheap initially, but additional costs can quickly spiral up.
b. Staff, security, and other hidden costs can inflate the lifetime cost of running an OSBI software. - Limited capabilities
a. Not all OSBI software is as extensive in scope as proprietary software.
b. The open-source code is a double-edge sword – it can be modified at any time, but the original could have limited functionalities. - Manual integration of additional modules
a. OSBI software is very flexible for adding new modules.
b. But it also means that the new modules have to be coded manually by the company’s IT teams.
c. This could be time and labor-intensive and is also open to errors. - Quality of user interfaces
a. OSBI software can be relatively less user-friendly as the quality of teams behind the design and subsequent implementation may not be as qualified or specialist as those from a vendor.
b. This frequently results in a less than the optimum quality of user interfaces, especially at the level of front-end visualizations and reporting.
c. This finally leads to lesser use of the software, which is not the point! - Lesser support
a. OSBI software relies mainly on online (read: informal) communities of users for support and ideas.
b. There are no dedicated teams for problem-solving, unlike with proprietary software vendors.
7 Open-Source Business Intelligence software providers
Now that we have a holistic understanding of Open-Source Business Intelligence software, let us explore some prominent OSBI software providers (not ranked in any particular order):
1. Microsoft Power BI: Although a paid-for solution, Microsoft offers a free version of its well-known Power BI business intelligence software. This version offers 1 GB of data per user and the possibility of querying the software in natural language (not code). Visit Getting Started with Power BI for Free to learn more.
2. Clic Data: which offers ClicData Personal, a free version with 1 GB of storage and multiple dashboards for a single user. Visit https://www.clicdata.com/ for more information.
3. Helical Insight: an open-source framework with API-based functionalities. Visit https://www.helicalinsight.com/ for more information.
4. BIRT: an open-source software embedded into required web applications. It has more than 12 million downloads to date. Visit https://eclipse.github.io/birt-website/ for more information.
5. Jedox: robust planning and reporting functionality for desktops and mobile phones. It offers a 14-day trial for the cloud version and a 30-day trial for the on-premise premium version. Visit https://www.jedox.com/en/ for more information.
6. Elk Stack: an open-source solution to centralize data and present the information as real-time visualization on relevant dashboards. Visit https://logz.io/learn/complete-guide-elk-stack/ to learn more.
7. ReportServer: the only solution to integrate various business intelligence reporting engines into one user interface. Visit https://reportserver.net/en/ for more information.
Conclusion
The best OSBI software solutions are those which have fully editable source codes. Though they require a fairly large amount of in-house talent and IT support infrastructure, OSBI software solutions are worth the effort and time required to match them to continuously evolving business intelligence processing and visualization needs. Their open-source-led flexibility and relatively cheaper lifetime cost make them the ideal solution for companies with multiple business lines and data sources.
It is important to follow a rigorous selection procedure to choose the right solution from the right vendor and keep an open mind on the pros and cons of OSBI software compared to proprietary software.