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, modify strategies, and enhance productivity. Business data is a key component with regards 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.

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 to your business 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, analyzing, transforming, and organizing of data. It helps 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 analyst 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
  • Interprete 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 and bars. You also, get accurate information from surveys. Zoho helps you track your vital business metrics, and identify outliers. You can use it to get data from multiple sources, create reports and dashboards with drag and drop designs. 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 alert to tackle any anomaly. You have full control of accessibility. Zoho can be embedded in your own product application or website for easy access.

FeaturesPricing
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 without 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 shift. 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.

FeaturesPricing
No coding RequiredPricing is based on request
Automatic model generator
Automatic outlier detection
Hierarchical forecast reconciliation
User override facility
Scenario analyzer

3.RStudio

rstudio, data analytics tool, modanwealth

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

FeaturesPricing
Supports Multiples Programing languagesRstudio Desktop
Free
Drag and drop interfaceRstudio desktop PRO
$995/ year
Pre-built algorithm & Model training
Rstudio Server
Free
Feature EngineeringRstudio server PRO
$4,975/year

4. erwin

erwin, data analytics tool, modanwealth

erwnin is an advanced data modeling tool that can be used to generate conceptual models easily, 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 deploy it on any database. It is good for large data models with a large number of entities. with erwin, you will master data and metadata management, Big data, business intelligence, and analytics initiative. It can be used to find, visualize, design, deploy, and standardized enterprise data assets. With this tool, you can create perfect data for your data warehouse.

FeaturesPricing
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 environment, talend 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, from GPS services or web analytics. It helps in masking sensitive personal information.

According to their website, Talend helps healthcare personnel channel data to forecast patient needs, from notifications for getting tests and renewing medication to improved diagnosis and more, speed up results and get 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.

FeaturesPricing
Reporting & AuditingOpen Source
Free
Scalability, Automation, and extractionStitch 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

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