Which BI tool should I pick?
One of the real estate industry's challenges in becoming data-driven is the difficulty in combining data from different business systems to enable deeper analysis. Many real estate companies use a business intelligence (BI) tool to solve this problem, but which one should you choose? In this blog post, we take a closer look at the pros and cons of different players.
Business intelligence (BI) tools are essential for companies to make informed decisions based on data. As data-driven decision-making increases, there are now many different BI tools on the market. Each tool has its own strengths and weaknesses, and in this blog post, we will examine the pros and cons of several popular BI tools: Power BI, QlikView, Insight, and Homepal, of course.
Homepal
Homepal is Sweden's only BI tool that specializes in the real estate industry. Since we only work with the real estate industry, we know exactly what our customers' challenges and needs are and can thus make visualization and modeling standardized, which significantly shortens the lead time for implementations. The user-friendly interface makes it easy for anyone to get new insights, answers to questions and decision support using data. The strength of Homepal lies in its ease of use and industry expertise. With our tool, everyone in the organization can work with data without having technical skills.
Power BI
A tool like Power BI has the capacity to do just about anything, allowing for in-depth analysis at a very advanced level. Despite the power of Power BI, there are two main disadvantages to keep in mind. First of all, the license cost of Power BI is expensive compared to other BI tools. Furthermore, this heavy tool requires specific data expertise that few real estate companies have internally. This problem can be solved with skilled BI consultants, but unfortunately, the lead times are long and the cost of the hours quickly adds up.
QlikView
QlikView specializes in data exploration and exploitation. Its in-memory data engine allows users to quickly analyze large amounts of data and create interactive dashboards. QlikView also has robust data security and governance features, making it an ideal choice for companies that must adhere to strict data regulations. However, QlikView can be difficult to learn and may be less suitable for companies with limited IT resources.
Insikt
Insikt is a BI tool that specializes in providing financial services data to its customers. It offers a range of features, including data analysis, data visualization and data enrichment. Insight also provides real-time data updates and insights, making it an ideal choice for businesses that need up-to-date financial information. However, Insight's pricing is not transparent, and it can be more expensive than other BI tools.
In summary, each BI tool has its own pros and cons, and which tool is right for your business depends on your specific needs and budget. It is important to carefully evaluate each tool and consider factors such as ease of use, data modeling capabilities, data security, and pricing before making a decision. Power BI, QlikView, Insikt, and Homepal are all great BI tools that offer unique features and benefits for businesses looking to make data-driven decisions.
