Collecting raw data is only the beginning of the Data Analysis process. Modern organizations regularly collect a vast amount of data in the form of Big Data. However, only a few businesses can successfully present and analyze big data to yield results. It is observed that business organizations that effectively use data analysis are more likely to see an increase in revenue and a significant decrease in production costs. Thus, data analytics software or tools that help in data analysis are steadily gaining in popularity and are predicted to grow even further.
What is Data Analytics Software?
Data Analysis is a valuable process that offers insights into data collected by organizations. Most data are unstructured, making them very difficult to process and analyze. A data analytics software helps businesses extract meaningful information from unstructured raw data. This information collected, stored, presented, and analyzed using data analytics software can provide essential knowledge to organizations regarding their products or services, customer buying behaviors, current market trends, and many more.
Organizations can select the best data analytics tools or software by understanding their business needs and their usage frequency. There are several factors that business organizations that intend to collect, store, and analyze data must consider before selecting the best data analytics tools for data analysis. Also, collecting, storing, and analyzing data is not enough for data analysis. The data analytics tools should be able to present data comprehensively. Many data analytics software has a visualization feature for presenting data, and some data analytics software can collaborate with third-party visualization tools to help present data for further analysis.
Best Data Analytics Software for Data Analysis
As discussed above, selecting the best data analytics software depends on the organization’s business needs. So, organizations must align their business requirements with the features offered by some of these below-mentioned data analytics software for data analysis.
The four best data analytics software for data analysis in 2022 are:
- Microsoft Power BI – This data analytics software from Microsoft offers superior data visualization and data analysis by combining AI (artificial intelligence). It is one of the best data analysis software today that provides business intelligence solutions. Its adaptable and easy-to-use user interface has made it the preferred choice as a data analytics tool for many small businesses. Additionally, Power BI can easily incorporate with Microsoft’s other services like Excel and Teams to get maximum benefits for business.
- Tableau – This data analytics tool is best known for providing business intelligence to improve productivity in modern organizations. Its built-in visualization features help organizations effectively present and analyze data. Available as both cloud and on-premises deployments, Tableau is scalable and adaptable. However, it is expensive compared to other data analytics tools on this list, although it does offer a free trial.
- Qlik Sense – Available through software as a service (SaaS), on-premises, and cloud-based solutions, this data analytics tool uses machine learning (ML) to provide improved business solutions to organizations. Its augmented capabilities and insights generated through predictive analysis help businesses gain an advantage over their competitors.
- Domo – Best known for streamlining workflows, this data analytics software is available as a single, cloud-based platform. Its pricing is not as flexible as other data analytics tools mentioned in this article. But it offers a free trial and is easy to automate with powerful drag-and-drop ETL (extract, transform, and load) features.
Therefore, data collection alone is insufficient; modern business organizations must present and analyze data to derive meaningful information. These data analytics tools incorporate business intelligence solutions through ML and AI to predict patterns and discover trends. Thus, data analytics software provides information that helps organizations improve their business operations using facts rather than assumptions. The expert advisors and consultants of our Data Analytics Consulting Services can help businesses make intelligent decisions regarding the best data analytics tools to select and increase their revenue. This will not only help them improve their business functions but create long-lasting success as well.