The amount of data being generated by cloud applications, like ERP and CRM is growing rapidly. This massive amount of data can be both confusing and a burden for organizations. So, to help them make sense of it all, many technological companies and startups are developing business analytics software that offers smooth and effective analytics solutions.
Today’s advanced business analytics software comes with powerful features that make it easier for companies to collect, analyze, and present data in real-time. These tools not only help businesses to spot trends and patterns in large datasets but also help them in creating new business models based on their findings.Â
Curious about what these software are? Read this article below to get familiarity with the top 10 Business analytics software list that you must know as a Business Analyst.Â
What Are Business Analytics Software?
Business analysts use different software tools to gather and manage data from various business systems. These software tools help them in collecting both – numbers (quantitative data) and opinions (qualitative data) and store it all in one place. This allows analysts to look at the data and make better decisions.
Companies often use a combination of multiple tools for business analytics, like statistical software for predicting future trends, and data mining tools for extracting data. These applications give businesses a clear view of important information, helping them to work more efficiently with increased productivity.
Are Business Intelligence And Business Analytics Tools Same?
While Business Intelligence tools also work on gathering and analyzing data, business analytics software goes a step further than this. It helps you to identify weaknesses, alerts decision-makers to unexpected events, fixes potential problems, and even predicts the future performance of the product.
The demand for high-quality business analytics tools is growing rapidly because of the powerful features these advanced tools offer in driving business success and growth. Experts believe that the increasing importance of data analysis will lead to better business decisions and create new job opportunities in various fields. Below are the top ten most popular business analytics software lists that are used by modern businesses.
| Top 10 Must-Know Business Analytics Software Lists |
| 1. SAS Business Analytics |
| 2. QlikView |
| 3. Board |
| 4. Splunk |
| 5. Sisense |
| 6. MicroStrategy |
| 7. KNIME |
| 8. Tableau |
| 9. Power BI |
| 10. Apache Spark |
1. SAS Business Analytics (SAS BA)
SAS BA is a powerful tool for business analytics, especially good at handling unorganized text data. It can take messy data and turn it into useful information that analysts can explore to find important insights. With its wide range of statistical tools, SAS BA makes it easier to analyze large amounts of data quickly. It can even predict future trends based on the data it processes.
2. QlikView
QlikView is a popular business analytics software known for its speed and unique features. It uses special technology and in-memory processing to create fast and efficient business reports. QlikView also helps users to visualize data relationships by using different colors to show how data is connected or not. Apart from all this it also keeps the data compressed to save space.
3. Board Â
Board is a top-rated tool for business analytics that allows users to create interactive reports and dashboards easily. It is highly scalable which means it can handle large amounts of data without getting stuck. The board also includes powerful tools for analyzing data and can also support scenario analysis and forecasting which helps businesses predict future outcomes by adjusting the data.
4. SplunkÂ
Splunk is widely used in small and medium-sized businesses for business analytics. It started as a tool for processing machine log files but has since added many useful features in it, including a user-friendly web interface and various ways to visualize data.
5. SisenseÂ
Sisense is a popular business analytics tool that is strong in text analysis. It can take unstructured text and turn it into valuable business insights. Sisense uses a special technology called Sisense Crowd Accelerated BI, which relies on open-source language for advanced statistics. This allows users to analyze and visualize complex data, helping them in making informed decisions and better predictions for the future.
6. MicroStrategyÂ
MicroStrategy is a business analytics software that helps you easily process unstructured text data. With its powerful analytics tools, you can analyze this data and make predictions in real-time. It also allows you to create and share business reports from anywhere, on any device, making it a convenient choice for users.
7. KNIMEÂ
KNIME, developed in 2004 by software engineers from the University of Konstanz in Germany, is a business analytics platform known for its high performance. It uses a unique data-pipelining approach that supports machine learning and data mining. KNIME allows you to analyze data, create visual programs, and generate business reports seamlessly.
8. Tableau Big Data Analytics
Tableau Big Data Analytics is a highly regarded business analytics tool, especially for analyzing unstructured text. It offers powerful statistical tools that allow users to analyze social media networks and predict trends based on current and past data. Tableau’s platform is dynamic and reliable, making it a favorite among experts.
9. Power BIÂ Â
Power BI, developed by Microsoft, is a popular business analytics tool known for its dynamic visualizations. It provides self-service business intelligence features, enabling users to create dashboards and reports on their own, without needing help from others. Power BI is a complete user-friendly software that helps businesses in gaining insights quickly.
10. Apache Spark Â
Apache Spark is a powerful tool for handling big data. It is mainly used for analyzing large amounts of data quickly. Spark is very flexible and can run on different platforms like Hadoop, Apache Mesos, or Kubernetes. One of the reasons it’s popular is because it processes data in memory, making it very fast and easy for developers to use.
Spark is designed for data scientists and engineers who work with big data at an enterprise level. It is great for a variety of tasks, such as handling real-time data and running machine learning algorithms.
11. Apache Storm
Apache Storm is a system used for processing data streams in real-time. It was initially developed by Nathan Marz and his team but was later acquired by Twitter, who completed the project and made it open-source.
Apache Storm is free to use and works well with any programming language. It’s designed to be a fun tool for real-time data processing.
12. PIG and HIVE Â
Yahoo had trouble managing and analyzing massive amounts of data. So, to solve this problem, they created Apache Pig. which helps them in processing large datasets without the needs of writing complex and time-consuming Java scripts. Pig is especially useful for people who are not programmers but still want to work with data.
On the other hand, Facebook contributed to the development of Hive because they needed a better way to manage Big Data using Hadoop. Hadoop processes data with MapReduce, but it required users to write long and complicated scripts, which was not easy for everyone, especially those not familiar with programming languages like Java. Many people, however, were comfortable with SQL, so Hive was created to allow them to use SQL-like queries for data analysis.
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Business Analytics Software FAQs
What are the key features of business analytics software?
Key features of the Business analytics software include- data visualization, predictive analytics, reporting, data mining, and easy dashboard creation. These features help users to understand and interpret complex data more easily.
How does business analytics software benefit a company?
Business analytics software helps companies by making data-driven decisions, improving efficiency, identify new opportunities for growth, and by gain a competitive edge in the market.
What are the most popular business analytics software tools?
Some of the most popular business analytics tools include Tableau, Microsoft Power BI, SAS Business Intelligence, QlikView, and hadoop.
How do I choose the right business analytics software for my company?
While choosing the business analytics software for your company, Consider factors like- easy to use, scalability, integration capabilities, cost, and specific features that are must needed by your business.
