Top 10 Exclusive Business Analytics Tools
Table of Contents
- Jaro education
- 30, December 2024
- 11:00 am
Every success story, whether it’s a blockbuster event organisation or a phenomenal product launch, is backed by data. This data not only validates theories that have been accepted for years but also brings new possibilities to light. If you’re fascinated by data, you’re in the right place!
Our world is filled with various kinds of data in both digital and physical forms, each serving a different purpose. Understanding this vast amount of data can be overwhelming, yet it is an important task. That’s the real job of today’s state-of-the-art business analytics tools. Not only do they facilitate efficient data collection, but they also help with analysis and presentation in real-time so that companies can identify patterns to create new business models.Â
This has also made the business analyst’s job one of the most in-demand roles across every domain. Whether in Healthcare, Marketing, or Banking, this growing need for business analysts brings a promising career path, with exciting job profiles and salaries booming across all industries.
So, if you’re interested in making your career in business analytics, here are the top 10 business analytics tools that you must know about. Read out to learn more about it.
What are Business Analytics Tools?
Business analysts utilise a vast range of software applications that help them capture quantitative and qualitative data from different business systems. After this, analysts review and analyse all the data to enable smarter decision-making. Many companies are deploying a mix of business analytics tools or software, including predictive modelling, data mining tools, and statistical tools. These business analytics software applications offer organisations a comprehensive view of essential insights that enhance efficiency, boost productivity, and increase profitability.
*expertinsights.com
1. SAS Business Analytics (SAS BA)
SAS Business Analytics provides extensive text analytic capabilities that enable the user to turn unstructured text data into actionable insights for strategic decision-making. This is one of the most influential business analytics tools that provides users with an extensive set of statistical tools for the real-time analysis of large datasets. As SAS Business Analytics serves to provide an easy and fast way for users towards large volumes of data analysis, it enables the extraction of meaningful patterns while providing forecasting for trends in the future based on insights gained from big data. This predictive ability, indeed, is instrumental for the organisation willing to retain a position amidst competition in fast-changing markets.
2. QlikView
QlikView has established itself as one of the most preferred business analytics due to its innovative features, which include patented technology and in-memory processing. These cutting-edge capabilities enable the rapid generation of business analytics reports, providing users with immediate access to critical information. One of QlikView’s standout features is its ability to visualise data relationships through the use of distinctive colours to represent related and unrelated data while automatically maintaining data associations. This intuitive visualisation enhances understanding and decision-making. Remarkably, QlikView compresses data to just 10% of its original size, making it an efficient and user-friendly option for organisations of all sizes.
3. Excel
Despite the multitude of business analytics tools available in today’s market, Excel remains the most versatile and widely used option for business analytics. Known for its affordability and accessibility, Excel is an incredibly user-friendly tool packed with powerful features such as PivotTables, form creation, and Visual Basic for Applications (VBA) programming. Whether you are dealing with small datasets or large volumes of information, Excel caters to a wide range of analytical needs. Its intuitive interface allows professionals from various backgrounds to easily learn and excel in its use. For those eager to enhance their skills and deepen their understanding, enrolling in an Excel course for self-paced learning can be a valuable investment in one’s career development.
4. Microsoft Power BI
Microsoft Power BI has quickly become one of the most popular business analytics tools in the realm of business analytics, particularly noted for its outstanding data visualisation capabilities. This powerful platform empowers users to create interactive reports and dashboards, making it easier to interpret and communicate complex data. Additionally, Power BI offers robust data warehousing features, including data preparation and discovery, allowing users to identify real-time trends and generate insightful reports with minimal effort. Beyond its desktop interface, known as Power BI Desktop, the platform also provides cloud-based services, referred to as Power BI Services, which are accessible from virtually anywhere, enabling a flexible work environment.
5. Tableau
Tableau is another highly regarded business analytics tool that excels at connecting seamlessly to a variety of data sources. It enables users to create custom visualisations, interactive maps, and dynamic dashboards that can be tailored to meet specific business needs. Tableau’s efficient data discovery and cleaning functions allow users to perform analytical operations in mere seconds, making it both powerful and user-friendly. Furthermore, Tableau is designed without complex scripting, allowing users to focus on analysis rather than technical details. Its robust statistical functions enable in-depth analysis, helping users identify patterns and trends based on both current and historical data, thus informing better decision-making.
6. Qlik Sense
Qlik Sense, developed by Qlik, represents the next generation of analytics tools designed to empower users to create dynamic visualisations, charts, and interactive dashboards. This cloud-based business analytics tool harnesses the power of machine learning and advanced artificial intelligence to enhance data mining and processing capabilities, thereby improving the quality and speed of analytics. Qlik Sense is designed to be flexible and user-friendly, catering to a diverse range of users while offering compatibility across public, private, and hybrid cloud environments. This adaptability makes it an ideal choice for organisations looking to implement robust analytics solutions.
7. Splunk
Splunk, launched by Splunk Technology in San Francisco, is widely recognised for its ability to process machine log data efficiently. This innovative business analytics tool captures, indexes, and identifies correlations within real-time data, generating informative graphs, reports, and dashboards that can guide decision-making processes. Splunk is particularly valuable for small and medium-sized enterprises, as it allows them to harness machine-generated data to gain insights into their operations. By transforming raw data into meaningful information, Splunk helps organisations optimize performance and enhance operational efficiency.
8. MicroStrategy
MicroStrategy is one of the leading business analytics tools that offers a comprehensive suite of features for data discovery, visualisation, and web services. It combines various analytical techniques to help users efficiently fetch and analyse data from multiple sources. Moreover, MicroStrategy allows users to create and share reports seamlessly from any location or device, facilitating collaboration and informed decision-making. The platform’s ability to process unstructured text data increases its utility, making it a valuable asset for organisations looking to derive insights from diverse data types. Operating MicroStrategy requires only a basic understanding of programming, data analysis, and SQL, making it accessible to a broader audience of users.
9. Sisense
Sisense, with the great power of business analytics tools, impresses users through extensive analysis and visualisation of complex, large datasets. While the key operational entities of its customers range from small to large, it offers integration across a great variety of data sources. Combining such diverse datasets allows Sisense users to achieve data-driven decision-making and trend forecasting at an appropriate level. The industry experts from Gartner and Dresner have named Sisense as a leading cloud analytics platform, and all its additional features for easy data analysis and visualisation have made it an indispensable asset for companies that would like to make use of their data.
10. Board
The Board, highly regarded as one of the most outstanding business analytics tools that promote an innovative analytics model, allows users to create custom, highly perceptible, and interactive reports and dashboards. It can deal with large amounts of data while supporting accurate analysis and forecasting through advanced data manipulation techniques such as drill-down and drill-through. The tools from the Board support companies that want to derive actionable insights from their data so that more informed decision-making and strategic planning are achieved.
*sprintzeal.com
How Can You Get Hands-on Experience Using Business Analytical Tools?
The field of business analytics is booming, with exciting new roles emerging at top companies. If you’re curious about the path to a career in business analytics, you might be wondering what milestones you need to hit along the way. Don’t worry—we’ve simplified the roadmap to becoming a business analyst in one easy step just for you!
Pursue the ePost Graduate Diploma in Advanced Business Analytics (ePGD-ABA) – IIM Ahmedabad.
This course is curated to help working professionals equip themselves with skills to leverage data for impactful decision-making. It is a 16-month diploma business analytics certification that offers advanced tools, techniques, and domain-specific applications in finance, operations, strategy, and public policy. By enrolling in this programme, learners can get hands-on experience in data visualisation, modelling, cloud computing, and machine learning. The course is 100% online, which helps to ensure participants can seamlessly integrate learning into their careers. So, if you’re looking for an ideal pathway to advance your career in data-driven leadership, this IIMA online course is a great certification programme.
Programme Highlights
- Highly recognised PG Diploma Programme.
- Cutting-edge content and case-based pedagogy by IIMA faculty
- Domain-specific elective choices
- Hands-on experience in analytical tools
- Industry-relevant curriculum
How Can Jaro Education Help You?
Jaro Education is a renowned higher education and upskilling company that provides career counselling and support to launch your career in business analytics. Whether you’re starting your journey or looking to advance your career in Business Analytics, Jaro Education is here to support you every step of the way.
By enrolling in the ePost Graduate Diploma in Advanced Business Analytics (ePGD-ABA) offered by IIM Ahmedabad in partnership with Jaro Education, you’ll get access to a range of exciting benefits:
- Get a chance to learn with the top industry experts, mentors, and faculties to ensure you understand the latest business analytics tools and technologies.Â
- Receive dedicated career guidance and support from an experienced counsellor for better academic decision-making.Â
- Be a part of discussions and forums for enhanced learning.
- Build networks with alumni and attend events.Â
Conclusion
As the business world relies more on data-driven strategies, businesses are putting more pressure on skilled business analysts and effective business analytics tools across all sectors: automotive, healthcare, retail, banking, and hospitality. A careful choice of the right tool related to your interests and skills can significantly boost your analytical ability to contribute to impactful business decisions.Â
So, why not take the next step by enrolling in the ePost Graduate Diploma in Advanced Business Analytics (ePGD-ABA) from IIM Ahmedabad? This course can open the door to exciting professional advancements!
Furthermore, if you’re pursuing this diploma programme through Jaro Education, your learning experience will be exceptional. Join us and take the first step toward a thriving career in business analytics!
Frequently Asked Questions
Related Program
Trending Blogs
