Admitidly I’m biased – I think Arrow from Windward Reports is the best solution for this. Other decent solutions include:
Sql Server Reporting Services (somewhat limited in how you can structure your output)
Pentaho (open source and has a steep learning curve)
Business Objects (you’ll generally end up having to purchase professional services to make full use)
Cognos or InformationBuilders (incredibly powerful but also very expensive and a steep up front effort)
References :
http://www.windwardreports.com/

Several months ago our organization was having trouble consolidating decades worth of data from all different applications, and we started researching all the different BI solutions on the web.

After evaluating several applications, we found that most were pricey, took up hundreds of gigs of RAM, lacked reporting features, had clumsy dashboards, and took almost a year to deploy.

InetSoft.com had the best business intelligence software solution by far. Their software is powerful, has a small footprint, effective reporting features, customizable dashboards, and is deployed in a matter of weeks rather than months. It was also far more affordable than the rest.

Check them out: http://www.inetsoft.com/products/StyleIntelligence/
References :
http://www.inetsoft.com