Top 10 Business Analytics Tools

Every company whether it is a mere startup or a branded business, focuses on growth and development. There are different technologies which impact the business in one way or another. Success of a business is not a one factor driven process but depends on multiple factors and strategies. 

 

Take a look at how the Business Analytics tools can play a part in improving your business insights, productivity and profitability. 

 

 

What are the Business Analytics Tools?

 

Business Analytics tools include the set of software and technologies used by business analysts. These tools help in capturing qualitative and quantitative data from different business networks. 

 

The Business Analytics tools help the analysts to review and analyze the data and in integrating the collected data into a repository. At the same time, Business Analytics tools enhance the process of decision making. 

 

Companies use statistical tools, data mining tools and predictive modelling for making their business process easier. These tools provide the company's key insights and help in improving its efficiency, thrust, and profitability.

 

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A comparison between Business Analytics Tools and Business Intelligence Solutions
 

Many times, people and company owners misinterpret business intelligence solutions as Business Analytics. The two are different applications of software technology and are used to serve two different purposes. Mentioned below are the differences and similarities between the two. 

 

1. Both Business Analytics and business intelligence tools are used to compile and analyze data.

 

2. But Business Analytics tools are complex processes and require deep research, while business intelligence tools involve a simple process.

 

3. Business Analytics tools analyze the trends of the past for future prediction. Business intelligence solutions use available data to analyze past patterns.

 

4. Business intelligence solutions solve the immediate problems while Business Analytics tools are future focused.

 

5. Business intelligence tools are strategic in nature while the Business Analytics tools are tactical.

 

6. Business intelligence solutions are generally used for reporting KPIs and metrics, on the other hand, Business Analytics are used to deliver statistical and quantitative analysis. 

 

Related blog - Difference between Business Intelligence and Data Analytics

 

Top 10 Business Analytics Tools

 

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Top Business Analytics Tools

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In recent times the use and demand of the Business Analytics tools has constantly increased. Here is the list of top ten Business Analytics tools which are mostly preferred by the companies.  

 

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1. SAS Business Analytics

 

The SAS based Business Analytics is a top in the category. It allows users to transform and inspect unorganized text data. It transforms raw data into relevant information. Thus, helping the analysts to discover insights. The SAS based Business Analytics is filled with a lot of statistical tools. The platform assists in predicting future trends from information framed.

 

 

2. TIBCO SPOTFIRE Business Analytics

 

TIBCO Spotfire is one of the most advanced Business Analytics. It is specially designed for data professionals. It offers powerful and robotic analytics solutions. It allows the users to run Business Analytics reports for a defined time span. TIBCO has following capabilities:

 

1. Scalability capability

 

2. Statistical analysis capabilities

 

3. Capacity to analyze text-based unstructured data

 

 

3. DUNDAS Business Analytics

 

Dundas Business Analytics is a fully equipped tool. It offers first-class analytics and business intelligence solutions using the R programming language. Dundas provides robotic and systemized analytics. 

 

It assists trend forecasting and a high-level dashboard. It helps the users to visualize data and create Business Analytics reports. One of the significant features of Dundas is its easy-to-use drag-and-drop feature. 

 

 

4. QLIKVIEW Business Analytics

 

QlikView is the most preferred tool for Business Analytics. It consists of a variety of unique features. For example, patented technology, in-memory processing and enabling the delivery of super-fast Business Analytics reports. 

 

The platform allows users to envisage data relationships using specific color techniques. It maintains data association and compresses non-relevant data with 10% of its native size.

 

 

5. BOARD Business Analytics

 

The Board Business Analytics tool is a top-rated business analyst software. It is an industry-leading Business Analytics model. It permits the users to create intuitive and interactive dashboards and business reports. 

 

This software helps in managing massive data volumes. At the same time, its sustenance is precise analysis and forecasting. The platform integrates the best-in-class analytical tools for business, for example, a statistics suite.

 

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6. SPLUNK Business Analytics

 

Splunk is used as a Business Analytics tool in small and medium scale industries. The main features of Splunk are

 

1. Processing machine log file data

 

2. User-friendly web interface

 

3. Visualization options 

 

 

7. SISENSE Business Analytics

 

Sisense business analyst software contains dynamic and strong text analysis functions. The software enables the users to transform unstructured text into valued business analysis. The features of Sisense are as follows:

 

1. Crowd accelerated Business Analytics

 

2. Open-source language

 

3. Computational statistics

 

4. Extensive analysis

 

5. Visualization of complex analysis

 

6. Data driven decisions

 

7. Improved forecasting of future trends

 

 

8. KNIME Business Analytics

 

KNIME Business Analytics platform was launched in 2004. The software was developed by a team of software engineers from the University of Konstanz, Germany. KNIME is known as one of the best high-performance business analyst software. 

 

The platform provides services via its exclusive data-pipelining approach. The platform facilitates machine learning and data mining. It also supports persistent analysis, visual programming, and continuous Business Analytics reports.

 

 

9. MICROSTRATEGY Business Analytics

 

As the name shows, MicroStrategy is a Business Analytics software that focuses on basic and small strategies. The platform allows hassle-free processing of unstructured data. The software has superior analytics capabilities. 

 

MicroStrategy software integrates insightful analytics. Its statistical capabilities help in enabling real-time trend forecasting. It also provides options for third-party mining. The platform combines a number of business analysis technologies and thus, creates and shares a Business Analytics report.

 

10. TABLEAU Big Data Business Analytics

 

Tableau Business Analytics has dynamic and cutting-edge capabilities. The platform is highly beneficial for unstructured data analysis. It includes following features:

 

1. Reliable statistical tools

 

2. In-depth analysis of social media networks

 

3. Patterns on current and historical data

 

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What are the advantages of Business Analytics Tools?

 

The Business Analytics tools have following advantages:
 

1. The Business Analytics tools provide relevant and accurate reporting of the analysis done. They generate the most precise and accurate information from raw and unorganized data.

 

2. The Business Analytics tools provide the key insights related to the business. It provides complete insights of loss, revenue, profits, productivity and performance of the employees.

 

3. The Business Analytics tools benefit the company’s growth. It helps the company in budgeting, planning, forecasting, and staying on the top.

 

4. The Business Analytics tools help in cleaning and creating data of accurate and high quality.

 

5. The Business Analytics tools enable fast decision making.

 

6. The Business Analytics tools enhance customer satisfaction.

 

7. The Business Analytics tools increase the net profits and gains.

 

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A way forward

 

Business Analytics tools are important for maintaining accuracy and perfection in a company’s process and working. Business Analytics tools and business intelligence solutions are the soul of every organization irrespective of their size. 

 

These software build the employees capability to focus on their organization. They are able to make powerful decision-making. But Business Analytics tools should be chosen according to the needs of the company.