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IT & Collaboration · 11 vendors ranked

Best Business Intelligence Software in 2026

A company usually starts shopping for BI after the same meeting happens three times: sales, finance and marketing each bring a different number for last month's revenue, and nobody can say which one is right. Charts are the easy part of this category. The hard part is agreeing on definitions, keeping them in one place, controlling who sees which rows, and making it possible for an operations manager to answer a follow-up question without filing a ticket with the one analyst who knows SQL. This ranking judges each product on that harder part: how metrics are defined and reused, how quickly a small data team can connect sources and publish something trustworthy, what licensing costs once viewers across the company need access, and whether your dashboards and definitions can leave with you if the product stops fitting.

What it is: Business intelligence (BI) software connects to a company's databases, warehouse and SaaS applications, lets analysts define metrics and relationships once, and turns the results into dashboards, reports and ad hoc queries that non-technical staff can explore. Modern BI tools add a semantic layer for consistent definitions, row-level permissions, scheduled delivery, embedding in other applications and, increasingly, natural-language questions answered against the governed model.

Visibility in this ranking can be paid for. Payment moves a vendor's position within the shortlist; it never adds a vendor, and it never changes a word of the review. The largest vendors in business intelligence software cannot hold places 1 to 3. How it works: placement disclosure · editorial process.

The top three

  1. #1

    Metabase

    Small data teams and startups

    First because non-analysts can answer their own questions through its query builder, the open-source core is free, and a small team can run it without specialists.

  2. #2

    Zoho Analytics

    SMBs with many SaaS data sources

    Second for companies without a warehouse: it pulls from a long list of SaaS apps and databases, prepares the data and charts it, at a low price.

  3. #3

    Sigma

    Snowflake, Databricks or BigQuery shops

    Third because it gives spreadsheet-literate staff live access to warehouse data at full scale, with writeback, though it requires a cloud warehouse to run on.

How we ranked these

Setup: from first connection to a dashboard people trust

Connecting a BI tool to Postgres or Snowflake takes minutes; that is not where setup time goes. It goes into modelling: declaring which tables join to which, which column is the canonical revenue figure, how fiscal periods work, and who may see which region's rows. Tools with a code-based semantic layer (Looker, Omni) front-load that work and repay it later, while query-builder tools (Metabase, Zoho Analytics) let a team publish something useful on day one and formalise later. We tested how far a single analyst gets in the first two weeks, how permissions are configured, and whether a business user can build a new chart from an existing model without learning SQL or a proprietary formula language.

The real price: creators, viewers, capacity and warehouse compute

BI pricing is split between the people who build and the people who look. Some vendors charge every viewer a seat; others license creators and let viewing ride on capacity; a few meter by query or credit consumption. The multiplication happens when a dashboard succeeds and two hundred more people want it. There is also a bill that never appears on the BI invoice: tools that query a cloud warehouse live push compute cost to Snowflake, BigQuery or Databricks, and a popular dashboard refreshing every five minutes can cost more there than the BI licence. We costed each product for a 150-person company with eight builders and the rest reading, and flagged any tool where embedding in a customer-facing app needs a separate contract.

Getting your data out: definitions as code, not trapped in a GUI

Your underlying data normally stays in your own database, so the lock-in in BI sits in the layer above it: metric definitions, joins, calculated fields and years of dashboards. Products that store that logic as text files in a git repository (LookML in Looker, Omni's model files, the YAML dataset definitions Preset inherits from Superset) let you read, diff and port it. Products that hold it in an internal store behind a GUI make migration a manual rebuild, one chart at a time. We checked whether dashboards and models can be exported through an API or as files, whether query results export cleanly to CSV and to the warehouse, and whether a platform that ingests your data (Domo, Qlik, Zoho) gives it back in bulk.

Independence from the vendor: cloud platform gravity

Three of the largest BI products belong to companies selling something else: Power BI pulls toward Microsoft Fabric and Azure, Looker toward Google Cloud and BigQuery, and Tableau toward Salesforce Data Cloud and its AI agents. Each works with other stacks, but bundling discounts, feature priority and roadmap follow the parent's interests. The alternative risk is the small vendor that might be acquired, as Mode was by ThoughtSpot. We rewarded products that treat warehouses from different clouds as equals, that offer an open-source or self-hosted route, or that at least keep definitions in a portable format so a change of owner does not strand your work.

Who it's for: a data team of one to ten

We ranked for companies with somewhere between 30 and 2,000 staff and a data function of one to ten people, often an analytics engineer or two working with dbt on a cloud warehouse, or in smaller firms, an operations lead with SQL skills connecting straight to production replicas and SaaS tools. That buyer wants self-serve exploration for managers, governed metrics, reasonable row-level security and predictable cost. Companies with a large central BI team, strict Microsoft licensing already in place, or pixel-perfect regulatory reporting needs will weigh the list differently, and the reviews say where.

Compared at a glance

#ToolBest forPricing modelFree optionHeadquarters
1Metabase Small data teams and startupsOpen source + paid tiersOpen sourceUnited States
2Zoho Analytics SMBs with many SaaS data sourcesPer plan / monthFree planIndia
3Sigma Snowflake, Databricks or BigQuery shopsQuote onlyFree trialUnited States
4Microsoft Power BI Companies standardised on Microsoft 365Per user / monthFree planUnited States
5Tableau Analyst teams doing visual explorationPer user / monthFree trialUnited States
6Looker Data teams wanting governed metricsQuote onlyNoneUnited States
7Qlik Sense Established analytics teams in midsize-plus firmsCapacity-based tiersFree trialUnited States
8Domo Business-led teams without data engineersUsage-basedFree trialUnited States
9ThoughtSpot Business users on a modelled warehouseTiered subscriptionFree trialUnited States
10Omni dbt-based data teams wanting governanceQuote onlyFree trialUnited States
11Preset SQL-literate teams on a budgetPer user / monthFree planUnited States

The 11 tools, reviewed

#1 Metabase

Open-source BI with a no-SQL query builder · United States · metabase.com

Open source Self-serve questions Embedding

Metabase is the tool we would put in front of a company's managers first. Its graphical query builder lets someone pick a table, filter, group and chart without writing SQL, and analysts can publish curated models so those managers start from clean data. It connects directly to Postgres, MySQL and the major warehouses, installs in minutes, and the open-source edition runs indefinitely at no licence cost. The cloud edition removes hosting work for a modest monthly fee. For a startup or midsize company, no other product delivers as much self-serve analysis for as little money and effort.

Where it falls short

Its semantic layer is lighter than Looker's or Omni's, so complex metric logic ends up duplicated across saved questions. Visual customisation is limited, and it is poor at pixel-precise formatted reports. Row-level sandboxing, SSO and audit logs sit in paid tiers. Large instances with thousands of saved questions become hard to keep tidy.

Wrong for

Organisations needing strict, code-reviewed metric governance across hundreds of analysts, or print-grade formatted reporting, should look at Looker, Omni or Power BI instead.

Pricing: Open-source edition free to self-host; cloud and Pro plans combine a base monthly fee with a per-user charge, and Enterprise is quoted. (open source)

Visit Metabase →

#2 Zoho Analytics

Self-service BI with built-in connectors and data prep · India · zoho.com

SaaS connectors Low cost Built-in data prep

Zoho Analytics suits the company whose data lives in a dozen SaaS tools and no warehouse. It syncs from CRMs, accounting systems, ad platforms and databases, stores the data in its own engine, and gives business users drag-and-drop reporting with a natural-language assistant on top. Data prep and joins across sources happen inside the product, so a small team gets a working cross-functional dashboard without buying an ingestion tool or a warehouse. Prices are low, and the value is highest for companies already using Zoho CRM or Zoho Books.

Where it falls short

The interface is dense and older-feeling, with many options buried in menus. Because data is copied into Zoho's store, refresh schedules limit freshness and large volumes raise the plan tier. The modelling layer is not code-based, so version control and review of metric definitions are weak. Charts look functional rather than refined.

Wrong for

Teams with a cloud warehouse and analytics engineers working in dbt should choose a warehouse-native tool such as Sigma or Omni rather than copying data into another store.

Pricing: Free plan for two users; published monthly tiers priced by users and data rows, with on-premises and enterprise options quoted. (free plan)

Visit Zoho Analytics →

#3 Sigma

Spreadsheet-style analytics running live on the warehouse · United States · sigmacomputing.com

Warehouse-native Spreadsheet interface Writeback

Sigma gives finance and operations staff an interface they already understand, rows, columns and formulas, sitting directly on billions of warehouse rows with no extract. Every calculation compiles into SQL and runs in Snowflake, Databricks, BigQuery or Redshift, so the numbers are current and governed by warehouse permissions. Input tables let users add forecasts, comments or mappings that are written back to the warehouse, which turns dashboards into light applications. For a team that has invested in a warehouse and wants business users working in it rather than exporting to Excel, it is the best option in this list.

Where it falls short

Without a cloud warehouse it has nothing to run on, and the queries it generates add to warehouse compute cost, which needs monitoring. Pricing is not published. Governed metric definitions are less central than in Looker or Omni, so spreadsheet habits can spread inconsistent calculations. Some visualisation options are limited compared with Tableau.

Wrong for

Companies without a cloud warehouse, or with only one production database and a tight budget, will get more value from Metabase or Zoho Analytics.

Pricing: Annual subscription on a quote, generally based on creator seats and platform tier, with a free trial. (free trial)

Visit Sigma →

#4 Microsoft Power BI

Microsoft's BI suite for reports, models and Fabric · United States · microsoft.com

Microsoft ecosystem DAX modelling Low seat price

Power BI is the default BI tool in many companies simply because it arrives with Microsoft licensing, and it earns that position. Power Query handles messy source data well, DAX models support sophisticated calculations, paginated reports cover formatted operational output, and sharing through Teams and SharePoint fits how Microsoft shops already work. The per-seat price is among the lowest for a full-featured product. On capability alone it could rank first; as the category's dominant platform it sits fourth. For companies already paying for Microsoft 365 E5, where Pro licences are included, the incremental cost can be close to zero.

Where it falls short

DAX has a steep learning curve and subtle evaluation rules that trip up analysts coming from SQL. The Desktop authoring tool runs only on Windows. Licensing has become confusing since Fabric arrived, and sharing broadly without capacity requires every reader to hold a paid licence. The product increasingly assumes the rest of the Microsoft data stack.

Wrong for

Mac-based teams, companies on Google Workspace, and analysts who want metrics defined in SQL and git will find Metabase, Omni or Looker a more natural fit.

Pricing: Free Desktop authoring tool; Pro listed at $14 per user per month and Premium Per User higher, with Fabric capacity priced separately. (free plan)

Visit Microsoft Power BI →

#5 Tableau

Visual analytics platform owned by Salesforce · United States · tableau.com

Visual exploration Large community Salesforce owned

Tableau remains the product analysts reach for when they need to explore data visually and find something they did not know to look for. Its drag-and-drop grammar produces sophisticated, well-designed charts faster than any competitor, and the community of practitioners, templates and training is enormous. Tableau Prep handles cleaning, and Pulse pushes metric summaries to business users. For a data team whose job is investigation rather than report production, it is still a pleasure to use. Public and academic use has also made Tableau skills common among analysts, so hiring is easy.

Where it falls short

It is expensive once many creators need licences, and total cost rises further with Server administration or add-ons. Its data modelling layer is less central than in newer tools, so governance relies on discipline. Development attention has shifted toward Salesforce Data Cloud and AI agents, which matters less to companies outside Salesforce.

Wrong for

Budget-conscious small companies and teams not using Salesforce should start with Metabase, Zoho Analytics or Power BI, which cover the common dashboards for less.

Pricing: Role-based per-user pricing; the Creator licence is listed at around $75 per user per month on annual billing, with cheaper Explorer and Viewer roles. (free trial)

Visit Tableau →

#6 Looker

Google Cloud's BI built on the LookML semantic layer · United States · cloud.google.com

Semantic layer Git-based modelling Google Cloud

Looker introduced many data teams to the idea that metrics should be written once, in code, reviewed like software and reused everywhere. LookML models sit in git, every Explore and dashboard draws on them, and business users can then filter and pivot freely without breaking definitions. That model scales well to large organisations and makes AI querying more reliable. For a data team that values correctness over speed of the first chart, it remains a strong design.

Where it falls short

Nothing useful happens until someone writes LookML, and that skill is specialised and in demand. Pricing is opaque and aimed at larger contracts. Development focus follows Google Cloud, and although other warehouses are supported, BigQuery customers get the smoothest path. Visualisation is plainer than in Tableau, and formatted reports need workarounds.

Wrong for

Small companies without a dedicated analytics engineer, or anyone wanting a first dashboard this week, should use Metabase or Zoho Analytics; Omni offers a similar model with a faster start.

Pricing: Quote only, sold through Google Cloud with platform editions plus developer, standard and viewer user licences. (none)

Visit Looker →

#7 Qlik Sense

Associative in-memory analytics from a BI incumbent · United States · qlik.com

Associative engine In-memory analytics Data integration

Qlik's associative engine is still distinctive: select any value and everything related, and everything excluded, is highlighted across every chart, which helps users discover relationships that a filtered dashboard would hide. The in-memory model is fast once loaded, and the purchase of Talend gives Qlik a strong data integration story. Organisations with experienced Qlik developers get deep, fast applications out of it. Qlik also remains one of the few major vendors that still sells a client-managed deployment for companies that cannot put analytics in a public cloud.

Where it falls short

Building apps usually means writing load scripts, a skill most new analysts lack and one that is harder to hire for each year. Data is loaded into Qlik rather than queried live, which adds refresh pipelines to maintain. Pricing and packaging have changed repeatedly with the shift to Qlik Cloud, and total cost is high for smaller teams.

Wrong for

Small teams without Qlik experience, or companies wanting live queries on a cloud warehouse with no extra copy of the data, should look at Sigma, Metabase or Omni instead.

Pricing: Qlik Cloud Analytics tiers priced by capacity and users, with a free trial; larger deployments on quote. (free trial)

Visit Qlik Sense →

#8 Domo

All-in-one cloud platform from connectors to dashboards · United States · domo.com

All-in-one Consumption pricing Executive dashboards

Domo packs ingestion, storage, transformation and visualisation into one product, which lets a business-led team get from scattered sources to executive dashboards without assembling a stack. Magic ETL gives non-engineers a visual way to build pipelines, the mobile experience is good, and the connector library covers most common SaaS tools. For a company that wants one vendor to own the whole path, it works. Its app-building tools also let a team put simple forms and workflows next to the charts, which some operations groups use as a lightweight internal portal.

Where it falls short

The credit-based pricing makes cost hard to forecast, since every data refresh, pipeline run and query consumes credits, and heavy months arrive as surprises. Because data and pipelines live inside Domo, leaving means rebuilding both elsewhere. Advanced analytics teams find the modelling layer limiting compared with warehouse-native tools.

Wrong for

Companies with a warehouse and an analytics engineer, or finance teams that need a fixed annual cost, should prefer Sigma, Metabase or Power BI.

Pricing: Consumption-based credit pricing on a quote, with a free trial. (free trial)

Visit Domo →

#9 ThoughtSpot

Search and AI-driven analytics on cloud warehouses · United States · thoughtspot.com

Search analytics AI agent Warehouse-native

ThoughtSpot built its product around typed questions years before generative AI made that fashionable, and the experience shows. Business users search in keywords or plain language, get charts back from live warehouse data, and drill further without help. Its Spotter agent now handles follow-up questions conversationally. Where the underlying data is well modelled, it gives non-analysts real autonomy. The 2023 purchase of Mode also brought a SQL and notebook environment for analysts into the same company, which fills a gap for technical users who want to go beyond search.

Where it falls short

Search results are only as good as the worksheet models behind them, so setup still needs a skilled analyst who understands the joins and synonyms users will type. Pricing is on the high side for small companies once more than a handful of users need access. Designing detailed, formatted dashboards is less flexible than in Tableau or Power BI.

Wrong for

Companies with messy, unmodelled data or a small budget will get further with Metabase or Zoho Analytics, and can revisit search-first analytics once a clean warehouse model exists.

Pricing: Tiered plans with published entry pricing for smaller teams and quotes for enterprise, with a free trial. (free trial)

Visit ThoughtSpot →

#10 Omni

Semantic-layer BI with SQL and spreadsheet flexibility · United States · omni.co

Semantic layer dbt integration Young vendor

Omni was founded by people who built Looker, and it addresses Looker's biggest drawback: rigidity. Analysts can explore freely in SQL or a spreadsheet-like view, then promote useful logic into the shared model when it proves itself, so governance grows with use instead of blocking it. It integrates well with dbt and modern warehouses. For a data team that wants semantic-layer discipline without a long up-front modelling phase, it is one of the most interesting products available.

Where it falls short

It is a young company with a smaller customer base, connector list and partner ecosystem than the incumbents, and fewer practitioners to hire. Pricing is not published, which makes early budgeting harder. Some enterprise features, such as advanced scheduling, pixel-level formatting and administration tooling, are still maturing.

Wrong for

Buyers who need a long vendor track record for procurement, or small teams without a warehouse or analytics engineer, should look at Power BI or Metabase instead.

Pricing: Annual subscription on a quote, with a free trial. (free trial)

Visit Omni →

#11 Preset

Managed cloud service for Apache Superset · United States · preset.io

Apache Superset Open source core Low cost

Preset runs Apache Superset as a managed service, so a team gets a mature open-source BI tool without operating it. Superset's SQL Lab is good for analysts, the chart library is broad, and dashboards handle large datasets well against a warehouse. Because the core is open source, a company can move to self-hosted Superset if it ever needs to. For SQL-literate teams wanting low cost, it is a sensible choice. The free Starter tier is generous enough for a small team to run real dashboards before paying anything.

Where it falls short

The interface for business users is less approachable than Metabase's, and building charts without SQL knowledge is awkward because most work starts from a dataset an analyst prepared. The semantic layer is thin, so metric consistency depends on analysts' discipline. Some features, such as alerting and formatted reporting, lag the commercial competitors.

Wrong for

Companies wanting department managers to self-serve without writing SQL should choose Metabase or Zoho Analytics, which are friendlier for non-technical users from the first day.

Pricing: Free Starter plan for small teams; Professional plan priced per user per month; Enterprise on quote. (free plan)

Visit Preset →

What the data says about this market

Ten of the eleven products ranked are American; Zoho Analytics, from India, is the lone exception. Five publish their prices in full or in part, a noticeably higher share than in most enterprise categories, largely because the per-user model for creators (Power BI, Tableau, Preset) is simple enough to print. Four offer a tier that costs nothing to start with: Metabase and Preset through their open-source roots, Power BI through its free desktop authoring tool, and Zoho Analytics through a small free plan.

The structure of the market has changed with the rise of the cloud warehouse. Older platforms such as Qlik and Domo load data into their own engines; newer ones such as Sigma, Omni and ThoughtSpot run queries live against Snowflake, BigQuery, Databricks or Redshift and leave storage to the warehouse. The dominant names are now owned by platform companies. Salesforce bought Tableau in 2019, and Google bought Looker the same year. Consolidation has also reached the challengers, with ThoughtSpot buying the analytics notebook tool Mode in 2023.

Almost every vendor ranked now ships a natural-language assistant that writes queries or builds charts from a typed question. In practice, answers are only as reliable as the semantic model underneath, which is why governed definitions matter more in 2026 than they did before. Demand for this kind of software rides on the broader growth of computer and information services: World Bank data puts ICT services at 14.48% of global service exports in 2023, up from 9.1% in 2013.

The 11 ranked vendors, counted

  • Headquarters by region: North America 10, Asia-Pacific 1
  • By country: United States 10, India 1
  • Pricing model: Per user / month 3, Quote only 3, Capacity-based tiers 1, Open source + paid tiers 1, Per plan / month 1, Tiered subscription 1, Usage-based 1
  • Free option: Free trial 6, Free plan 3, None 1, Open source 1

Counted from the 11 vendors on this page. More in our market data.

For the wider market behind business intelligence software, read our report The Global Shift to ICT Services, or browse all industry reports.

How to choose

  1. List where the numbers live today

    Before looking at dashboards, inventory the sources: the production database, the accounting system, the CRM, the ad platforms, product event data, and any spreadsheets that someone updates by hand. If the list is short and mostly one database, a tool that connects directly (Metabase, Zoho Analytics) is enough. If it is long, you probably need a warehouse and an ingestion tool first, and then a BI product that queries the warehouse live (Sigma, Omni, ThoughtSpot). Buying a heavyweight platform to compensate for missing data plumbing is a common and expensive mistake. Note also who will own the model: an analytics engineer comfortable with git and SQL gets far more from code-defined tools than an operations manager who prefers point and click.

  2. Price the success case, not the pilot

    Pilots are cheap because five people use them. Model the bill for the moment a dashboard becomes part of how the company runs and every manager opens it weekly. For per-viewer pricing, multiply by headcount; for capacity or credit pricing, ask the vendor to estimate consumption for your query volume and put a cap in the contract. Add warehouse compute for tools that query live, and ask how caching and scheduled extracts reduce it. If customers or partners will see embedded dashboards inside your product, get embedded pricing in writing up front, since it is often a separate licence that dwarfs the internal one. Put the three-year total side by side for your shortlist.

  3. Test with a question someone actually asked last month

    Take a real question from a recent leadership meeting, such as why gross margin dropped in one region, and have the evaluation team answer it in each shortlisted tool against your own data. Watch three things: how long it takes to get the join right, whether a non-analyst can then filter and drill without help, and whether the resulting metric definition can be reused on the next dashboard without copying. Then test permissions by logging in as a regional manager who should see only their rows. A product that handles this exercise cleanly in a trial will handle next year's questions; one that needs its sales engineer to drive will need yours.

Questions and answers

What is the best business intelligence software in 2026?

For most small and midsize companies Metabase is our first choice: the open-source edition is free to self-host, the cloud version is inexpensive, and non-technical staff can ask questions through its query builder without writing SQL. Zoho Analytics is the better pick when data is spread across many SaaS apps and no warehouse exists, thanks to its large connector library. Sigma suits teams already on Snowflake, Databricks or BigQuery whose analysts think in spreadsheets.

Do we need a data warehouse before buying BI software?

Not always. Metabase, Zoho Analytics, Power BI and Domo can connect directly to operational databases and SaaS applications, which is enough for a single product database or a handful of sources. Once you are joining data from five or more systems, or queries slow down production, a warehouse such as Snowflake, BigQuery or Postgres fed by an ingestion tool pays off, and warehouse-native BI tools become the better match.

What is a semantic layer and why does it matter?

A semantic layer is a central definition of business metrics and joins: what counts as an active customer, how revenue is recognized, which date drives a fiscal quarter. Every dashboard and AI query then uses the same logic. Without one, each analyst rebuilds metrics slightly differently, which is how two reports end up disagreeing. Looker and Omni make it central; Metabase and Power BI offer lighter versions.

Is Power BI cheaper than Tableau?

For most companies, yes. Power BI Pro is listed at $14 per user per month and is included in Microsoft 365 E5, while a Tableau Creator seat is listed at around $75 per user per month with cheaper Explorer and Viewer roles. The difference narrows when Power BI needs Fabric capacity for large datasets or wide sharing, so compare total cost at your expected number of report readers, not list prices.

Can BI tools answer questions in plain English?

Most now can, including Power BI Copilot, Tableau's agents, ThoughtSpot Spotter, Zoho's Zia and Metabase's AI features. The results are dependable when the question maps cleanly to a well-modelled metric and unreliable when the tool must guess joins or definitions. Treat natural-language search as a front door to a good model, not a replacement for one, and test it on questions your team really asks.

How should we handle row-level security?

Row-level security limits which records each user sees, for example a regional manager seeing only their region. Look for rules defined once in the model and applied to every dashboard and export, driven by user attributes from your identity provider. In some tools this is a paid-tier feature, notably Metabase's data sandboxing in its Pro plan, so confirm the tier before you design around it.

Can we embed dashboards in our own product for customers?

Yes, and most tools here support it, but the licence is usually separate. Metabase, Sigma, Omni, Looker and Power BI Embedded all offer embedding with per-customer data isolation. Pricing ranges from a flat add-on to capacity-based charges that scale with end users. Check how multi-tenant permissions are enforced, how the embedded look can be styled, and whether customers can build their own reports.

Is open-source BI good enough for a company?

For many, yes. Metabase and Apache Superset (sold as a managed service by Preset) run in production at thousands of companies. The trade-off is operational: self-hosting means someone patches, backs up and scales the application. Paid cloud editions remove that work and add features such as single sign-on and advanced permissions. The open core also means you can keep running the product if the commercial company changes course.

How long does it take to roll out BI across a company?

A first useful dashboard should take days, not months. A governed rollout, with a defined metric set, permissions and training for department leads, typically takes one to three months for a midsize company. The pace depends mainly on data quality and agreement on definitions, not on the tool. Rolling out department by department, starting with the team that has the most urgent question, works better than a big launch.

What is the difference between BI and a spreadsheet with charts?

A spreadsheet holds a copy of data at the moment someone exported it; a BI tool queries the source each time, so numbers stay current. BI tools also centralize definitions, control access by role and row, schedule delivery and track who viewed what. Spreadsheets stay useful for one-off analysis, and several tools here, notably Sigma, deliberately borrow the spreadsheet interface on top of live data.

Why are Power BI, Tableau, Looker and Qlik not in the top three?

They are the dominant vendors in business intelligence, and our rules keep dominant incumbents out of places one to three so that smaller products that serve small and midsize buyers well get proper attention. Each remains a strong product. Power BI in particular is often the rational default for a company already paying for Microsoft 365 E5, and nothing in its fourth-place ranking argues against that.