Top 5 Business Analysis Tools Every Analyst Should Know
Business analysis is essential for any organization to make informed decisions to improve their business processes, operations, and performance. With the growth of data and technology, there are various business analysis tools available that can help analysts to gain insights into the business data and make strategic decisions. In this article, we will discuss the top five business analysis tools every analyst should know in 2021.
1. Microsoft Power BI
Microsoft Power BI is a powerful business intelligence tool that allows analysts to create data visualizations and interactive dashboards to gain insights into business data. It has a user-friendly interface that makes it easy for non-technical users to use. It also allows users to share their reports and dashboards with others, making it effortless for collaboration. Microsoft Power BI is free to use with limited features, but it also has paid versions that offer advanced features such as data modeling and real-time dashboards.
2. Tableau
Tableau is a popular visualization and data analysis tool used by many businesses to gain insights into their data. It allows users to create interactive dashboards, visualizations, and reports from multiple data sources. Tableau’s drag and drop feature makes it easy for analysts to create complex reports with minimal effort. It also has a free version with limited features and paid versions that offer advanced features such as integrating with more data sources and creating custom calculations.
3. Google Analytics
Google Analytics is a free web analytics tool provided by Google that allows analysts to track website traffic and user behavior. It provides detailed data such as page views, bounce rates, and time spent on the website. Google Analytics can also track conversions and revenue generated by a website. It has a user-friendly interface that makes it easy to use for beginners. Google Analytics also integrates with other Google tools such as Google AdWords and Google Search Console.
4. SAS
SAS is a business analytics software suite widely used in the industry for data mining, predictive analytics, and statistical analysis. SAS provides a wide range of tools that enable data management, data visualization, and advanced analytics. SAS offers a trial version with limited features, and the enterprise version is subscription-based. It is commonly used in finance, healthcare, and retail industries.
5. IBM Cognos Analytics
IBM Cognos Analytics is a self-service analytics platform that allows analysts to create dashboards, reports, and data visualizations. It’s a powerful tool that provides features like data blending, advanced analytics, and forecasting. IBM Cognos is designed to handle large datasets and complex analysis, making it suitable for enterprise-level businesses. It has a subscription-based model with different pricing tiers based on the number of users and features required.
Conclusion
Business analysis is essential for organizations to gain insights, make informed decisions, and improve their business processes. The top five business analysis tools every analyst should know in 2021 are Microsoft Power BI, Tableau, Google Analytics, SAS, and IBM Cognos Analytics. These tools provide a wide range of features, from data visualization to advanced analytics, making it easier for analysts to gain insights into their business data. By leveraging these tools, businesses can improve their performance and stay ahead of their competitors.
