Gartners Magic Quadrant for BI Platforms 2024

Six vendors now lead the BI market, offering more enterprise options with AI integration and ecosystem focus.

Analytics and business intelligence (ABI) platforms enable less-technical users - including business people - to model, analyze, explore, share and manage data, and collaborate and share findings, enabled by IT and augmented by AI.

A quick view shows us that after a couple of years with only three leaders: PowerBI, Tableau and Qlik, we now have three vendors who break into the upper right quadrant this year: Google, ThoughtSpot and Oracle. No vendors were added or dropped, however Tibco is renamed as Spotfire in the 2024 quadrant.

The Expanded Leaders Quadrant: What It Means for BI Selection

The 2024 Magic Quadrant marks a significant shift with six vendors now positioned as Leaders, compared to just three in previous years. This expansion reflects the maturation of the Business Intelligence market and provides organizations with more viable enterprise-grade options. However, more choice doesn't necessarily make selection easier—it requires a more nuanced approach to evaluating platforms against your specific organizational needs.

Leaders

Microsoft Power BI

Microsoft's Power BI remains a standout Leader, integrated into the Fabric platform. Known for its competitive pricing, extensive functionality, and seamless integration with MS365, Azure, and Dynamics, Microsoft leverages Generative AI through Copilot and offers comprehensive integration options. The platform's exclusive availability on Azure supports its robust ecosystem, though organizations should consider challenges with governance and interoperability with competitor platforms when planning their BI architecture.

Salesforce (Tableau)

Salesforce's Tableau maintains its leadership position by providing advanced augmented analytics through Tableau Pulse and offering a composable architecture. Renowned for corporate viability, Tableau continues to excel in sophisticated data visualization capabilities. However, the complexity within Salesforce's broader product portfolio can present integration challenges, despite dedicated leadership within the organization.

Qlik

Qlik stands as a Leader with its strong analytics and data integration capabilities, exemplified by Qlik Staige AI and Bedrock integration. The platform integrates seamlessly with Microsoft Fabric and Teams, providing an end-to-end data analytics solution. While Qlik enjoys renewed market recognition, organizations should evaluate potential challenges with analytics market momentum and consider how well it fits with their existing cloud or application ecosystem.

Google (Looker)

Google represents a significant new entry in the Leaders quadrant, offering Looker with a multicloud architecture. Looker Studio (formerly Data Studio) provides flexible functionality that can operate independently or connect to Looker for comprehensive data integration. Google's modular, headless BI capabilities integrate effectively with its broader cloud ecosystem, including the Gemini LLM. However, organizations focused on self-service business user adoption should note that Google's visual data preparation tools may be less robust than traditional BI platforms.

Oracle Analytics Cloud

Oracle Analytics Cloud emerges as a new Leader, integrating deeply with Oracle Fusion Apps and the broader Oracle enterprise cloud ecosystem. Oracle's significant investments in data management and integration capabilities highlight its strength in this quadrant. Organizations already using Oracle business applications will find compelling value, though those operating outside the Oracle ecosystem may find limited use cases. Additionally, Oracle's offerings can be expensive for small and medium businesses, and there may be challenges finding knowledgeable implementation resources.

ThoughtSpot

ThoughtSpot, another new Leader, distinguishes itself with Sage for Generative AI Natural Language Querying (NLQ) and SpotIQ for automated insights. With a modular approach supporting modern data stack architectures, ThoughtSpot excels in providing a composable, analytics-as-code environment. While powerful for technical users, organizations should consider that it lacks the comprehensive cloud or application ecosystem benefits of other leaders and may have limitations in advanced data science integration.

Key Considerations for BI Tool Selection in 2024

AI and Natural Language Processing Integration

The 2024 landscape shows that AI integration, particularly Natural Language Querying (NLQ), has moved from nice-to-have to essential functionality. Organizations should evaluate how well platforms integrate with Large Language Models and whether they can literally allow users to "talk to their data" through conversational interfaces. This capability significantly impacts user adoption and reduces the technical barrier for business users.

Ecosystem Integration vs. Best-of-Breed

A critical decision factor revealed in the 2024 quadrant is the trade-off between ecosystem integration and best-of-breed capabilities. Platforms like Google, Microsoft, and Oracle benefit from comprehensive cloud and business application ecosystems, but these integrations often come with hidden costs and potential vendor lock-in. Organizations must carefully evaluate whether ecosystem benefits outweigh the flexibility of independent solutions like Qlik and ThoughtSpot.

The Modern Data Stack Consideration

The rise of cloud-native, composable analytics architectures means organizations should evaluate how well BI platforms integrate with modern data stack components like cloud data warehouses, data lakes, and streaming analytics platforms. Platforms that support analytics-as-code and headless BI capabilities offer greater flexibility for organizations with sophisticated data engineering teams.

Beyond the Leaders: Strategic Value in Other Quadrants

While the expanded Leaders quadrant garners attention, organizations shouldn't overlook solutions in other quadrants. Challengers like AWS QuickSight, Domo, and MicroStrategy may offer better value propositions for specific use cases or organizational contexts. Visionaries like IBM Cognos, Pyramid Analytics, and SAP Analytics Cloud might provide innovative capabilities that align better with future strategic directions.

The Niche Players quadrant contains specialized solutions that could deliver superior results for organizations with specific industry requirements or unique analytical needs. These vendors often provide more responsive support and can adapt more quickly to changing requirements than large enterprise vendors.

Making the Right Choice for Your Organization

The expanded options in 2024 require a more sophisticated selection approach:

Assess Your Technical Maturity: Organizations with strong data engineering capabilities might benefit from composable, best-of-breed solutions, while those preferring integrated ecosystems might gravitate toward platform providers.

Evaluate Total Cost of Ownership: Look beyond licensing fees to understand implementation costs, training requirements, ongoing maintenance, and potential infrastructure investments required for each platform.

Consider Change Management: The most technically superior platform is worthless if your organization cannot successfully adopt it. Evaluate platforms based on your team's current capabilities and willingness to adapt to new workflows.

Plan for Scale: Consider not just current requirements but where your organization will be in 3-5 years. Can the platform grow with your data volume, analytical sophistication, and organizational complexity?

In conclusion, the 2024 Magic Quadrant reflects a maturing market with more enterprise-grade options than ever before. This abundance of choice requires organizations to be more strategic and thoughtful in their selection process, focusing on alignment with specific organizational needs rather than simply choosing from the Leaders quadrant.

If you are in the process of selecting an analytics and BI platform and need guidance navigating these options, don't hesitate to contact me to discuss tool selection!