Most Used Business Analytics Tools

Most Used Business Analytics Tools

For a business of any size, it is important to perform a business analysis if you want it to thrive. Data workers and business intelligence professionals find it easier to perform analysis efficiently and effectively. Businesses have now committed themselves to big data, which is so sheer in that it is difficult to handle.

Many companies and startups are developing sophisticated business analysis tools that can help organizations in diving deep into the datasets in order to extract actionable insights. Not only this, today’s business analytics tools are power-packed with state-of-the-art features that can facilitate the collection of data, its presentation in real-time, and analysis. This way, they enable organizations to create new and robust business analytics models.

This article will inform you about the business analysis process and some popular Business Analytics Tools and their use cases so that you can choose according to your business requirements.

What are Business Analytics Tools?

Business analytics tools are generally the types of application software that are capable of retrieving data from business systems and storing it in relevant databases so that it can be reviewed and analyzed.

Usually, to perform business analysis, you might require different tools for different scenarios. It all depends on the business requirements. With the help of these tools, organizations can get a complete outlook of the company to understand business issues, business operations, and also customer conversions so that they can make smart decisions.

Some Popular Business Analytics Tools

1. Power BI

Microsoft Power BI comes on the top when it comes to the most popular business analytics tools. This tool helps in data mining, reporting, and data visualization in order to provide business insights. The simple interface of this tool allows businesses to connect to different data sources and build their own reports and dashboards.

Power BI is known to fulfill nearly all the requirements of organizations, right from startups to enterprise operators.

Special features include:

  • Visualizing data trends
  • Easy to use
  • Enables you to make data-driven decisions
  • Provides a live 360-degree view of data
  • Secure insights
  • Collaboration across organizations
  • Scalable and affordable
  • A free trial version

2. Tableau Big Data Analytics

One of the best business analytics software, Tableau is popular for possessing cutting-edge capabilities meant for unstructured data analysis and dynamic abilities. This includes reliable and robust statistical tools that enable you to perform extensive analysis of social media of various data sets and make predictions regarding patterns based on existing and historical data.

3. Oracle Analytics Cloud

This business analytics tool is powered by Artificial Intelligence techniques that can provide strong analytics and reporting features with the convenience of the cloud. It prepares and also analyzes data to identify trends so that they can be transformed into an intuitive visualization for users to share and explore.

Special Features include Conversational Analytics, the discovery of data trends, collaboration, customized responses, machine learning, and what-if scenarios.

4. SAS Business Analytics

This visual analytics tool provides you with quick answers to difficult or complex questions that are drawn from datasets of all sizes. It provides you with some excellent features, including interactive dashboards, guided exploration, robust visualizations, and also self-service analytics that promotes visibility and data literacy.

The scalable and versatile design of SAS provides you with data transparency that facilitates smart business decisions.

Special features include:

  • Exploring data and creating models made easy
  • Glean data-based insights
  • Discover patterns and relationships in data
  • Perform guided and augmented analysis

5. QlikView

One of the most preferred tools for business analytics, Qilikview is known to possess distinctive features, including in-memory processing and patented technology, with which it is capable of delivering ultra-fast reports of business analytics.

With this tool, you can visualize relationships between data in specific colors for different cases, related and non-related data that facilitates automatic association of data which can be compressed to 10% of its actual size.

6. RapidMiner

A powerful data science platform, RapidMiner is popular for its capability of performing advanced analytics and predictive analytics, including data mining, visual analytics, and machine learning. The best part of this tool is that you don’t need prior knowledge of programming to get started with this analytics tool. business analysis case Tools

You can connect RapidMiner with every type of data source, including Excel, Access, Tera Data, IBM SPSS, Oracle, Sybase, etc. RapidMiner helps you in controlling data sets and formats for predictive analytics. To check its capabilities, it allows you a free trial.

7. Board

This popular business analytics tool is based on an industry-leading business analytics model that enables you to create intuitive and interactive business analytics dashboards and reports.

This tool is highly scalable, which means that it can integrate the best-in-class analytical tools that are specifically meant for addressing business issues also, including a powerful statistics suite.

The best feature of this tool includes its capability to manage massive volumes of data, and it can also support the analysis of the accurate scenario. It also facilitates forecasting by manipulating the data that is supplied to different scenarios.

8. Splunk

Splunk is a robust business analytics tool that is known for its capability of handling machine-generated data, including searching, managing, and analyzing it. This tool is ideal for small and medium-sized businesses.

Splunk can capture, index, and also identify correlations between a searchable repository and the given real-time data. It also includes various specialization options and a user-friendly web interface. business analysis case Tools

9. Microstrategy

This is a business analytics platform that can integrate versatile capabilities of analytics to enable the smooth processing of unstructured data. You can perform further analysis of data with the tool’s text analytics features.

MicroStrategy can incorporate significant statistical and analytical capabilities that provide you with real-time forecasting and also data mining options for third-party data.

Conclusion

The most important key to starting your career in business analytics is knowing the tools and selecting the right tool on the basis of business requirements. An online training course can be an ideal option to serve this purpose. It can help you acquire an in-depth understanding of popular business analytics tools along with their use cases so that you can get hands-on practice with all these tools.

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