Business analytics tools are an important part of business’s information infrastructure. These tools analyze a huge amount of structured and unstructured data, improving the quality of business decisions. The advancement of information technology has made an abundance of information available through business analyst training. Utilization of this information is possible through proper application of business analytics tools. In addition, businesses are using business analytics tools to identify trends, detect patterns and evaluate risks.
The other benefits offered of business analytics tools include reduction of costs, improvement of operational processes, enhancement of competitive advantage and increased revenues. However, choosing the wrong tools can lead to wasted money and time. To operate efficiently, this post covers helpful business analytics tools to use in your business, whether you own a men’s health business or an IT consulting firm.
R is, without a doubt, one of the most popular analytics tools in use today. R is an open source business analytics tool, which means it is free to use. This is a huge benefit if you are trying to keep costs low. This software has over 8,000 packages. That makes it an incredibly robust tool for any and all processes you need, including data mining and data visualization. However, this also means you may want a bit of business analyst training in order to use it to its full potential. If you want a comprehensive, open-source business analytics solution, consider R.
A user friendly interface and up-to-date data analysis make Tableau one of the most popular business analytics tools. Tableau easily recognizes patterns and identifies trends by quickly analyzing business data. Its breakthrough technology transforms picture data into usable and optimized database queries. What’s more, you can perform queries without writing codes or using scripts. Plus, its advanced features like highlighting, filtering, fast data engine and interactive dashboards simplify business analytics. With the easily navigable user interface of Tableau, even the business owners with limited technical knowledge can explore data sets.
If you are trying to find business analytics tools that help in business decision making process but are not quite as expensive as IBM business analytics, MicroStrategy is an ideal choice. This tool helps business owners transform business data into easily understandable and attractive dashboards. Furthermore, it creates enterprise reports, allowing business owners to identify and share insights derived directly from their business data. With MicroStrategy, you can easily set up complete enterprise data discovery solution, increasing flexibility, security and scalability of your business. Moreover, MicroStrategy businesses create customized enterprise apps, leveraging analytics, workflows, transactions and multimedia. Most importantly, MicroStrategy replaces traditional and ineffective business analytics tools with a single, interactive platform.
CanopyLabs is another useful business analytics tool that analyzes sales trends, customer behavior data and predictive analysis models. Its findings can be used to make better affiliate marketing strategies and products according to consumer demands. On top of that, CanopyLabs offers advanced features like 360 degree customer view, collecting comprehensive details about each customer. This information includes lifetime value, loyalty, engagement level, purchase history and email behaviors. Additionally, it allows business owners to analyze customer groups, find marketing opportunities and generate sales campaigns with personalized offers. All these incredible features of CanopyLabs certainly help in sales growth.
KNIME Analytics Platform
KNIME is a highly beneficial business analytics tool that utilizes visual programming, assisting users manipulate, model and analyze data. KNIME Analytics Platform takes things further by creating customized data driven solutions. It reveals usable information hidden in data sets, mines fresh insights and predicts business futures. Moreover, this business analytics tool uses graphical interface, making coding optional and visually documenting all the business data analytics. This can be especially useful if you own a hearing aids business, where product and customer satisfaction is paramount. The tool blending feature of KNIME Analytics Platform combines R, Python, SQL and Java Scripting nodes, creating the opportunity of advanced code driven analysis. Added advantages like image processing, data analysis, chemistry and time series have made KNIME Analytics Platform one of the best business analytics tools.
SiSense allows business owners to analyze and visualize data sets without depending on IT professionals. Getting a business analytics tool like SiSense on board will help you analyze disparate and complex data sets with efficiency. By using SiSense you can quickly join data, using drag and drop feature to share business model insights through well organized visual dashboards. Furthermore, SiSense integrates data from various sources to ensure 100% analysis accuracy.
One of the best business analytics tools, QuilkView empowers business owners to leverage their business data in discovering new solutions and opportunities. Its superior self service tool permits data manipulation, data analysis and insights. Supporting these features, QuilkView’s in-memory indexing feature automatically builds and maintains data relationships from multiple sources, providing scope of unrestricted exploration. This is sure to help anyone’s internet marketing strategies.
These business analytics tools enable businesses in quickly make important business decisions, keeping long term business objectives in mind. Moreover, the business analytics tools are essential in deriving effective business strategies and creating customized sales or marketing campaigns. Above all, the business analytics tools boost business growth and development through increased decision-making accuracy.
Learning To Do It Yourself
Even with all of the best business analytics tools in your arsenal, they are not helpful at all unless you know how to use them. However, you should not need research and development companies to bring this technique to your small business. That is why Coursera offers courses curated by the Wharton School of Business at the University of Pennsylvania designed to introduce business professionals like yourself to big data analytics. In the five courses offered on the topic, you can learn how to describe, predict and inform business decisions using big data. If you want to learn how to have an analytic mindset to make better data-based strategic business decisions, consider taking a course from Coursera to make proper use of the tools mentioned above.
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