Top 5 Data Analysis Tools For Business
Data analysis tools are key factors in building a successful business. Your business requires commitment and monitoring of the day-to-day operations of every activity.
The market performance of your business provides vital information that can help in reviewing company policies, modifying strategies, and enhancing productivity. Business data is a key component with regard to the success or failure of a business.
It is important that you understand the benefit of data and how to use it to your advantage.
This article outlines some important data analysis tools you can use to power up your business.
What is data analysis?
Data: This is the unit of numeric or textual information. According to Wikipedia, they are a set of values of qualitative or quantitative variables. They are simply facts and figures as it relates to your business. These facts and figures are useful for critical decision making
Analysis: This means the examination, evaluation, and breaking down of information. This is for the purpose of extracting facts, and the truth about a subject or topic to gain a better understanding.
Data Analysis means the examination, evaluation, inspecting, analysis, transformation, and organization of data. It helps you gain insight, understand useful information, and draw helpful conclusions.
A data analyst is someone who interprets the information gotten from data. He also provided ideas on how the said information can be of benefit to business
What are data analysis tools?
Data analysis tools are those tools used by data analysts to collect, organize, interpret, and present data for useful application
How to identify the best data analysis tool
There are some important factors to look out for in order to get the best tools that perfectly suit your project. A good data analysis tool should :
- Give accurate information
- Be Precise
- Easy to use
- Present Organized data
- Interpret data in a simplified manner
Let’s take a look at some of the best data analytics tools you should have for seamless business operations
1. Zoho
Zoho is a self-service business intelligence (BI), and data analysis software. With Zoho, you can create stunning data visualizations with charts, graphs, and bars. You can also, get accurate information from your surveys.
Zoho helps you track your vital business metrics, and identify outliers. You can use it to get data from multiple sources and create reports and dashboards with a drag-and-drop design feature. It also comes with an artificial intelligence assistant that gives answers in the form of a report.
You can also share data and set smart data alerts to tackle any anomaly. You have full control of accessibility. Zoho can be embedded in your own product application or website for easy access.
| Features | Pricing |
| Automatic data sync & Data integration | BASIC ₦6,600/month billed yearly |
| File upload from multiple sources & Fine-grained access control | STANDARD ₦13,500/month billed yearly |
| Drag and drop, and Spreadsheet-like interface | PREMIUM ₦33,600/month billed yearly |
| Multiple components: Dashboards, charts, widgets, pivot tables | ENTERPRISE ₦133,500/month billed yearly |
2. SaS Forecasting
SaS is a predictive analytics software. As an advanced analytical tool, SaS allows you to choose a forecasting model that is appropriate to your needs. It provides a wide range of forecasting procedures that helps you optimize parameters, and come up with a large number of high-quality forecasts.
You can get all of these done automatically with little or no human intervention. Sas is designed to relieve you of stress by offering a GUI that provides point-and-click access to SaS forecasting capabilities.
Sas is user-friendly and does not require any knowledge of programming. Another powerful feature of SaS is that it effectively examines the history of each item you are forecasting and instantly identifies outliers and data shifts.
It automatically determines the forecasting model suitable for historical data. SaS also has an amazing feature that allows forecasters to analyze scenarios, to determine the likely effect on future demand.
| Features | Pricing | |||||
| No coding Required | Pricing is based on request | |||||
| Automatic model generator | ||||||
| Automatic outlier detection | ||||||
| Hierarchical forecast reconciliation | ||||||
| User override facility | ||||||
| Scenario analyzer |
3.RStudio
Rstudio is a statistical analysis software that comes with lots of packages and extensions. It is an open-source platform for the creation of data science and statistical computing.
An integrated development environment for R and Python. Rstudio has a very flexible interface that provides suggestions while coding. It comes with a console and syntax highlighting editor that supports direct coding.
Rstudio is designed to handle a large collection of data. With a high-quality data display function, it is easy to use and does not require high programming skills.
It can be used as a training research assistant and data analysis. Available in open-source and commercial editions. It runs on Windows, MAC, and Linux
| Features | Pricing |
| Supports Multiples Programing languages | Rstudio Desktop Free |
| Drag and drop interface | Rstudio desktop PRO $995/ year |
| Pre-built algorithm & Model training | Rstudio Server Free |
| Feature Engineering | Rstudio server PRO $4,975/year |
4. erwin
erwin is an advanced data modeling tool that can be used to easily generate conceptual models, logical data models, and physical data models. It is perfectly designed to solve all your design issues.
One interesting feature of erwin is that it speeds up the data modeling process, especially in exporting the physical data model and deploying it on any database.
It is good for large data models with a large number of entities. With Erwin, you will ultimately master data and metadata management, Big data, business intelligence, and analytics initiative.
It can be used to find, visualize, design, deploy, and standardize enterprise data assets. With this tool, you can create perfect data for your data warehouse.
| Features | Pricing |
| Data Visualization and cloud adoption | Pricing is based on request |
| Automated data model and database schema generation | |
| Centralized model development and management | |
| Data literacy, collaboration, and accountability |
5. Talend
Talend is a cloud data integration and governance platform. It can be used for application and API integration. Built for cloud, multi-cloud, and hybrid environments, Talend also connects all your data in the cloud with support for any cloud data warehouse.
Talend is used in financial services to customize products by integrating market data, social media feeds, GPS services, or web analytics. It helps in masking sensitive personal information.
According to their website, Talend, as one of the most relevant data analysis tools, helps healthcare personnel channel data to forecast patient needs, from notifications for getting tests and renewing medication to improved diagnosis and more.
In addition, it also speeds up results and gets life-saving interventions to the public faster by bringing together past and current research findings from all types of clinical trials, and R&D data.
In business, it provides self-service cloud capabilities that make it easy for business users to curate data for advanced analytics. Without advanced technical skills, it lets them run more targeted and timely campaigns that deliver better results.
| Features | Pricing |
| Reporting & Auditing | Open Source Free |
| Scalability, Automation, and extraction | Stitch Data Loader Paid Edition: $100-1,000 USD/month with 14 free trial |
| API designer Security standard Big data processing File transfer management | Pipeline Designer Usage-based hourly pricing, with14 day free trial Talend Cloud Data Integration* Monthly: $1,170 USD/user Annual: $12,000 |
| Data virtualization |
Conclusion
There you have it. The most popular data analysis tools on the web. Use any of them to gain insights from your business data, get business intelligence, and develop strategies to put your business ahead of your competitors.
Data is essential information that when used right, can tremendously transform your business to engender rapid growth.
Check out this software and see which one best suits your business needs.
