Business intelligence software has changed the way business decisions are made, transforming relevant data into actionable intelligence. This is basically the purpose of business intelligence software. However, many organizations continue to shy away from this new technology owing to the significant investments that they entail.
This is seen as the reason why many business software platforms are still wrongly seen as expensive and reserved for enterprises only. However, BI solution pricing continues to be scaled to small businesses, that many businesses, realizing what such software has to offer, have been investing in such solution, as evidenced by the fact that the global BI market is forecast to grow at a CAGR of 11.1% through the year 2022, reaching $29.48 billion. This growth is to be fueled by increased data analytics use, an upstick in the use of cloud technologies and businesses’ dependence on data for decision-making.
To date, decision-makers and other non-technical users make up majority of BI platform users around the world. This only means that the efficacy of a BI software in aiding businesses hangs on how it is received by end-users. This adoption process depends on factors such as ease of use, usefulness and cost.
Despite all these problems, the benefits of BI solutions to businesses can never be undermined. BI solutions are generally considered sound investment considering the tons of benefits organizations stand to get from them. Many organizations have been recognizing the purpose of business intelligence software and the benefits that come with them. So the big question is how much does business intelligence software cost? In this article, we will present a comparison of pricing plans of BI platforms, how vendors usually package the product, while providing valuable advice on how one should go about purchasing one. Let’s take a look first at the buying factors.
In purchasing a BI solution, it’s not enough that one knows how much one costs. There are other factors that should be considered as they could impact the purchase and subsequent success or failure of BI software implementation, and they are as follows:
As the prices of BI solutions are most of the time not readily available, experts have pegged the average price of such platforms at around $3,000 annually, this is apart from the different versions that vendors may offer. This estimate is based on the most basic versions and therefore, the cheapest. However, the prices of BI solutions vary across vendors, with additional costs further bloating costs. This makes BI software pricing estimates woefully lacking in standards. The following section will seek to answer the question, how much does business intelligence software cost? Such will be accomplished by providing examples of business intelligence software and their pricing plans according to their packaging.
In our comparison of pricing plans, by-quote pricing stands out as it helps vendors custom fit the feature set to your needs. Pricing is almost always affordable to a small business and scales to higher price plans as your BI requirements also expand. These tools are available on a price-quote basis. You can directly contact the vendors to get a customized quote that will surely suit your needs.
BI solutions may also be offered in fixed price tiers. This makes picking a plan easier. You can later scale to premium plans for more advanced features.
Some BI solutions are offered as a suite of modules. You can start with a core module and add on more modules as you deem it fit. SAP Crystal Reports is a good example.
The BI platform is designed to run with any database and allows for detailed analysis and interpretation of business data. The solution’s arsenal of tools and features effectively simplifies creation of both simple and complex reports and presentations. The software also generates reports using data gleaned from any source as basis.
SAP Crystal Reports’ built-in report wizards offer users step-by-step guidance on reports creation and reporting task completion. Report creation is accomplished with the use of formulas, sub-reports, cross-tabs and conditional formatting, which give users a better view of data. In case words are inadequate to fully explain reports, maps and graph can be used to visually relay data.
The platform is being sold on a single Standard Plan for $185.00. The package includes features such as access to XLSX, CSV files, SAP HANA and databases, transformation and data manipulation, visualization with charts and maps and shareable storyboards, to name a few. If you would like to give the solution a try first, a free trial is also available.
Other vendors offer a freemium plan to entice you to subscribe to their paid plans. For example, Microsoft Power BI. It’s a total business analytics suite designed to aid businesses in data scrutiny and insights sharing. This BI solution converts corporate data into easy-to-understand visuals and makes data gathering and organization easy tasks. These data can in turn be used to formulate sound business strategies. The platform sees to it that users are constantly in the know and are able to identify trends in real time.
Microsoft Power BI also enables users to track their business with its dashboards, which can be accessed via any device. Its Power BI Embedded has extra exporting capabilities and can be embedded into custom applications. If need be, you can publish your reports and visualizations directly on the web, allowing you to target social media posts and emails.
The platform can be purchased in two pricing models. The Power BI plan, which comes for free, has features such as dashboards and reports creation, author content, data exploration and native Android, Windows and iOS applications, among many others. The Power BI Pro package, on the other hand, is available for $9.99/user per month. Prominent features include all Power BI features, access to on-premise data, collaboration using Microsoft 365 and shared data queries, to name a few.
So there you have it some of the best examples of business intelligence software and their corresponding pricing plans. The insights provided on how to purchase them are meant to help you choose the best one for your organization. Each solution has its own strengths and weaknesses, but one is bound to suit your needs.
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