5 Essential Data Analytics Tools For Business Intelligence
“War is
ninety percent information.”
The
importance of data or information can be understood from these words of the
great French military leader Napoleon Bonaparte. The famous general didn’t even
live the information age, and yet he attributed most of his military success to
having the right information. When you’re battling for a competitive advantage
in business, analytics data can be equally important to your success.
According
to Wikipedia Data Analysis is defined as a process of inspecting, cleansing, transforming, and modelling data
with the goal of discovering useful information, suggesting conclusions, and
supporting decision-making. Data analysis has multiple facets and approaches,
encompassing diverse techniques under a variety of names, in different
business, science, and social science domains.
Another quote which comes about importance of information
is “To
do a business well is to manage its future, and to manage its future well is to
manage information.”
There are various tools available for managing today’s
large databases and which are capable of extracting meaningful information from
them. Some of the best available tools for Data Analytics are listed here:
1.Tableau
It is one of the
fastest growing business intelligence and visualization tools available. Users
can create and distribute an interactive and shareable dashboard, which depict
the trends, variations, and density of the data in the form of graphs and
charts. Tableau can connect to files, relational and Big Data sources to
acquire and process data. The software allows data blending and real-time
collaboration, which makes it very unique. It is used by businesses, academic
researchers, and many government organizations for visual data analysis.
2.SAS
SAS (previously "Statistical
Analysis System") is a software suite developed by SAS
Institute for advanced analytics, multivariate analyses, business
intelligence, data management, and predictive analytics.
SAS can process complex data and generate meaningful insights that would help
organizations take better decisions or predict possible outcomes in the near
future. SAS lets you Mine, Alter, Manage and Retrieve data from different
sources and analyse it. With its strong statistical capabilities SAS can help
you analyse data in various ways to meet different needs.
3.
SPSS
The
software name originally stood for Statistical Package for the
Social Sciences (SPSS) reflecting the original market. It is a widely used
program for statistical analysis in social science.
It is also used by market researchers, health researchers, survey companies,
government, education researchers, marketing organizations, data miners and
others.
SPSS
has scores of statistical and mathematical functions, scores statistical
procedures, and a very flexible data handling capability. It can read data in
almost any format (e.g., numeric, alphanumeric, binary, dollar, date, time
formats), and version 6 onwards can read files created using spread sheet/data
base software. It also has excellent data manipulation utilities.
4.Google
Analytics
Google Analytics is a free web
analytics service offered by Google that tracks and
reports website traffic. Google Analytics is now the most widely
used web analytics service on the Internet. Most people / business who
choose Google Analytics do so because
· It is really powerful
(“enterprise-class”) software.
· The Standard version
is free.
· Google’s tremendous cloud
infrastructure allows them to rip through very large data sets rather quickly.
· It has a nice, clean User
Interface.
· They want to use data
to make informed business decisions.
5.Metabase
Metabase is an open source business intelligence
tool. It lets you ask questions about your data and displays answers in formats
that make sense, whether that’s a bar graph or a detailed table.Your questions
can be saved for later, making it easy to come back to them, or you can group
questions into great looking dashboards. Metabase also makes it easy to share
questions and dashboards with the rest of your team.
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