Business Analytics Tools denotes statistical analysis of a particular industry to attain insights contributing to business improvement. Companies leverage different methods and tools to analyze their business better and make firm decisions.
Data mining, data visualization, predictive modeling, forecasting simulation, data management, and optimization are a few effective methods to carry out business analytics. Several tools are used to accomplish positive results in these methods. Business analytics is also known as business intelligence (BI), which marketers employ to initiate a data-driven approach.
Reports show that 97% of the big enterprises around the globe leverage business intelligence to progress in their respective domains. In this content piece, we shall discuss the top business analytics tools for an enhanced understanding of business intelligence.
Top Business Analytics Tools
Microsoft Power BI
Microsoft Power BI is a powerful tool that helps marketers visualize, discover, and prepare data effectively. Users can formulate more communicative reports based on data-driven insights, which allows users to anticipate market trends and transformations in the forecast period.
Power BI by Microsoft also offers cloud-based facilities that ease the worries of accessing data from anywhere. While utilizing this tool, marketers use an all-in-one interface, Power BI Desktop, making it smoother to comprehend and process data.
Qlik is another data visualization and management tool for business analytics. It offers quicker results as one of the features with greater impact. The tool can manage data automatically with AI-powered capabilities. Additionally, Qlik can compress data by 10% from its original size, enhancing its easy accessibility measures. It has two broad segments: Qlik Sense for self-service data analytics and QlikView for data discovery, as well as customer data analysis.
Unlike other business analytics tools, Looker by Google offers scalability as a feature for impactful predictive business modeling. It creates an interactive interface that helps users easily manage their data alongside their teammates.
Looker can extract data from various sources at a time and create effective reports. Moreover, the tool can support over 50 SQL dialects, resulting in comfortable data identification.
Domo is a cloud-based business analytics system offering a vast set of libraries for data extraction, such as GitHub, AWS, etc. As a feature, it has automation to manage data and doesn’t need coding for usage. Domo aims to simplify complex databases for better visualization. It is a powerful tool for streamlining workflows.
The most significant feature of Google Analytics is it is free to use. The data-driven insights of this tool assist users in understanding user behavior, analyzing website traffic, and assessing overall site performance. It can provide more than 200 metrics at a time to track site activity. Google Analytics further helps in locating a specific target audience for a business.
Sisense can use multi-dimensional analytics for business progression. It collects data from multiple sources, analyzes it, extracts insights, and helps marketers make data-driven decisions. Sisense creates an easy-to-use dashboard so that users can comfortably process data analytics.
Microstrategy is an effective cloud-based application that allows businesses to not only attain relevant data but also analyze and manage it with ease. It assists users in tracking different data sources, such as Microsoft Power BI, Tableau, Qlik, etc, and creates more detailed data reports. It offers a 30-day free trial period to its customers.
Splunk is one of the best business analytics tools when it comes to data visualization as well as compliance with security measures. It can effortlessly collect, assess, monitor, and manage data. Indexing, troubleshooting, and security while managing data are some of the advanced features Splunk can offer. Furthermore, it provides a graphical interface that is visually suitable and understandable for the users.
Klipfolio is a simplified business analytics tool integrating various third-party sources to gather data. Alongside scalability, it offers dynamic databases for easy monitoring and implementation. Moreover, Klipfolio’s basic plan is free so users can subscribe to it as per their requirements. Its insightful database and predictable model also help understand the business visibility in the long run.
Tableau is one of the best business intelligence tools to rely on. It can reach out to any data sources to gather relevant information and formulate customized reports as per the users’ requirements. Its impactful methods of data discovery and shortlisting help in creating robust business analytics. Additionally, Tableau can provide reliable predictive data, associating contemporary and historical insights. Like other paid business analytics tools, it also provides free trials to its users.
Summing Up on Top Business Analytics Tools!
The commercial sector is becoming more competitive with each passing day. Under such circumstances, integrating methods of business analytics is part and parcel. Alongside better decision-making, it also assists in forecasting future industry trends and risk management. To attain success in business analytics, organizations often leverage specific tools. Business intelligence tools benefits include offering real-time data, integrating multiple sources at a time, analyzing data in no time, and others.
The above-mentioned tactics are the best business analytics tools currently available. Each uses different techniques to collect and analyze data for business progression. Integration of AI and ML is another factor contributing to the success of these tools. To know about more tools and software, read our other blogs.