Top Business Analytics tools used by professionals
December 27th, 2022
Looking to make a career in Business Analytics? Then you definitely should be well versed with these top tools used by Business Analysts worldwide!
What Are Business Analytics Tools?
In a nutshell Business analytics tools are application softwares that fetch data from one or more business systems and combine it in an archive to be reviewed and analyzed. Let’s take a look at what are the different tools used in Business Analytics.
1. SAS Business Analytics (SAS BA)
SAS stands for Statistical Analysis System. It is a software suite built for Data Management, Business Intelligence, Predictive Analysis and Descriptive Analysis. Since SAS can be used for so many different tasks, it is one the most popular tools for industry analysis.
Here are the most common industrial uses of SAS:
- Stock Prediction
- Clinical Research
- Fraud Detection
QlikView is a relational data analytics and BI solution for making sense of complex, large datasets. It allows companies to build dashboards and data summary views that lets you see the company's progress at a glance. The many benefits of this Data visualization platform include:
- Easy to implement, since QuickView doesn’t necessarily pull data from Data warehouses or cubes.
- One QlikView application can often replace hundreds of reports and the cubes used for them.
- Makes use of In-memory technology that allows you to easily access data at any time.
QlikView is used by many famous companies like Mercedes Benz, Cognizant, TCS and more.
Board is a management software. From scheduling meetings to sharing documents and minutes, the Board management software is designed to streamline processes, prevent oversights and ensure best practices are followed. The benefits of using this software include:
- Being able to obtain information (like, strategic plans, policy manuals etc)
- Increasing Board member engagement
- Having control over who has how much access.
Splunk is used for monitoring and searching through Big data. It allows users to search, analyze and visualize the data gathered from various sources like websites, applications, sensors, devices etc.
Sisense is another really good BI platform. Its users mainly use it to query databases, create data models and create dashboards from those data models, etc. It is mainly used by the IT and Finance industries.
The MicroStrategy analytics platform is a cloud-based business intelligence platform that supports both data mining and visualization. One of the great features of this platform is that it is scalable, so companies can start small on an as-per-need basis and then scale up to enterprise level deployment.
KNIME Analytics Platform is an open source software that allows users to access, blend, analyze, and visualize data, without any coding. Since it’s not code-heavy at all, KNIME is a good platform for Data Analysts and Data Scientists.
8. Dundas BI
Dundas BI is a BI reporting tool that is known for creating enterprise-level dashboards and Data Visualization. Using Dundas you can make interactive dashboards, reports, scorecards and more.
9. TIBCO Spotfire
TIBCO Spotfire is an artificial intelligence based business intelligence platform. One of the many benefits of using TIBCO is that it helps analysts quickly explore data to spot actionable insights, without requiring IT intervention. It is a great tool for the application of Business Intelligence.
10. Tableau Big Data Analytics
Tableau is one of the most popular and fast-growing tools used in Business Analytics and Business Intelligence today. It manages vast volumes of data and turns data into actionable information. Since Tableau is used by almost every industry today, it has become one of the core requirements recruiters seek in Business Analysts.
While Excel might be one of the oldest tools in the industry, it is still the most widely used analytical tool across all industries. Excel is a powerhouse of features that allows you to:
- Collect data
- Perform statistical analysis
- Make complex reports
- Integrate with other Business Intelligence tools like Power BI
12. Power BI
Power BI is mainly used for data visualization. It comes with standard data visuals that you can make use of to build interactive reports, such as bar, column, line, map, matrix, pie charts, scatter, table and waterfall. Power BI is also really cost effective compared to other brands in the market, making it a great tool for freshers to learn.
Domo is a cloud company that specializes in Dashboarding tools and Data visualization. Domo is one the most favored tools out there, with an average user rating of 7.3/10. Another plus, Domo is completely code-free, making it perfect for freshers.
RapidMiner is a powerful data mining tool that enables everything from data mining to model deployment, and model operations. It has a graphical user interface tool that allows you to link elements on a palette to conduct data analysis and data visualization.
This is why Business Analytics is known as a growing field with a lot of tools and platforms being made to facilitate the growing demand for data backed business insights. These are a few softwares for Business Analytics - used worldwide that cover a range of Business Analytics tasks from data visualization, data management to CRM. If you want to learn tools like Excel, Tableau and Power BI you should definitely check out our Business Analytics course. We cover a wide range of tools and techniques for Business Analytics (From Regression, Forecasting, A/B testing to Excel, Tableau etc.).
If you found this overview of Business Analytics tools helpful let us know in the comments below!