Data Analytics is the heart of any modern business today, and therefore the tools are too essential. The market is flush with the wide variety of Business analytics tools.
Business Analytics tools are the ones that help you to perform data analytics with ease. Some might give you impeccable visuals building capability, or some might give you the flavor of building your own workflow data models.
To choose any business analytic tools, you should first analyze the type and amount of data your organization or enterprise requires. Based on that, you can select your tool.
Business Analytics Tools
The Business Intelligence Tools are broadly classified into the following three categories as follows:
- Traditional Business Intelligence includes traditional and recurring reports
- Self Service Analytics helps the users to prepare and carry out their analysis with the data provided by IT and Tools together
- Embedded Analytics delivers solutions with the together approach of modern and traditional business applications like ERP, CRM, and HR System.
Top 7 Business Analytics Tools
We always help you choose the best for your business. Thus, the following is the full discussion about the top 7 Business Analytics Tools with thorough discussion:
The top 7 Business Analytics Tools are as follows:
- Qlik Sense
- Power BI
Must Read: Top 5 Data Visualization Tools in 2020
Let us discuss one by one in detail;
1) Tableau – Business Analytics Tools
- Tableau is considered as an 8th consecutive leader in analytics and business intelligence platforms in Gartner’s Magic Quadrant 2020 report
- Tableau provides a fast and robust kind of functionality to give insights.
- It can connect to many cloud-based and local business services.
- Tableau’s interface is capable of merging data sourcing, preparation, analysis with a presentation in a proper workflow.
- All three types of analytics is suited to Tableau.
- It is capable of handling recurring reports
- It provides geospatial functionality and have an integrated statistic for the same and thus supports advanced self-service
2) SAS – Business Analytics Tools
- SAS stands as the best in Data Science & Machine Learning for the 7th year in a row in Gartner’s Magic Quadrant
- It is the best software for forecasting and correlation
- It interprets complex statistical data
- SAS helps everyone including Business Analysts, Data Analysts, and Data Scientists
- SAS is the best statistical analysis software that can make new discoveries from the available data
3) MS Excel – Business Analytics Tools
- Excel is the traditional tool for Data Analytics
- It is used for Data Analytics before the advent of any other top business analyst was made in the market
- There is an option of Data Analysis tools in Excel that can be accessed under Data Tab on the ribbon
- In short, a total tool pack for business analysis is there in Excel software
- Functions such as LEN, COUNTA, SUMIF, and many more are available in Excel to support data or business analytics
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4) KNIME – Business Analytics Tools
- KNIME is the leader in Data Science and Machine Learning by Gartner’s Magic Quadrant
- It is an open-source platform to perform analytics.
- It is designed in such a way that a data scientist will connect with it in a single glance
- It has nodes that can perform anything, including both extracting to presenting data.
- Its virtual interface provides nodes for integration and performs actions.
- It is capable of integration with a wide range of other data science tools. These tools include Python, R, Hadoop, including unstructured and structured data types.
- KNIME is supportive of the leading data science cases. E.g., medical claim outline detection, text mining, market basket analysis, social media sentiment analysis, etc.
5) Qlik Sense – Business Analytics Tools
- It is 10th time leader in a row in Analytics and Business Intelligence Platforms in Gartner’s Magic Quadrant
- It is designed to provide speedy insight discovery
- It helps in determining the relationships among data at the time of data preparation and acquisition
- It can automatically segregate the data from all the identifier links, inbound sources and the combined data set is shown to the user rather than the old query-based part of receiving the data
- Qlik Possess in-memory architecture that aids many users to work on a diverse range of data simultaneously and seamlessly
- It also includes functions such as dynamic calculation, binary indexing, and logical functions
- It can well integrate all platforms like mobile platforms, web-based, and business applications.
6) Power BI – Business Analytics Tools
- It is 13th time in a row proved as a leader in Gartner’s Magic Quadrant
- Microsoft Power BI supports a lot of data sources
- It is a business intelligence platform that helps the users to create and share dashboards, visualizations, and reports
- You can merge more reports and documents in a single Power BI application for more natural distribution
- It helps in building machine Learning Models with ease
- It integrates well and works seamlessly with the Azure Machine learning model.
7) Alteryx – Business Analytics Tools
- It is considered as a leader in Data Science And Machine Learning platforms in Gartner’s Magic Quadrant
- Alteryx is popularly known as a Self-Service Analytics tool. Business users can build their data workflows in Alteryx by quickly blending and preparing the data without any programming skills.
- It takes minutes to produce the output by performing analysis with drag and drop workflows and data cleansing techniques.
- All the processes that are followed to bring the data in a suitable format to perform the analysis is called ETL (Extract, Transform, and Load).
- Alteryx is a software that makes this ETL process easier.
- Alteryx is the one super tool that combines the functionalities required for Data Preparation, Geo-Spatial Analytics, and Data Science.
In this article, we discussed the following:
- The impact of BI tools
- What are the top 7 BI tools to choose from?
- Briefing about all the tools to decide among the best BI tool suited for you or your organization according to its functionality