Business Analytics tools these days offer increased depths of functionality that can effectively function, even without a data scientist having to support them. Even the companies are developing advanced technologies to meet the need of the time.
These advances have led to the popularity of business analytics tools to its peak. And a result, there are over 100 new business analytics tools that have entered the market in the last 18 months.
There are a series of criteria that help in defining which tools are the latest and most popular cutting-edge analytics. Ease of use, depth of integration points and intuitive navigation design are a few features in which the tool should excel in.
Each tool available in the market has the potential to extend beyond its core functions to include advanced analytics functionality. And by adding support of advanced modelling, business analytics tools aim to provide deeper insight.
Here are some quick facts:
- As predicted by Gartner, by 2020 there will be more than 75% of midsize and large global organisations deploying advanced analytics as part of a platform or data analytics application. This will significantly influence the present and future of how business decisions are taken.
- With the most powerful data analytics features being offered to business processes through these tools, businesses will no longer need to hire data scientists. And as we already know how hard it is to find one.
- Today, the amount of data being generated using CRM, ERP, SCM and SLM applications is accelerating. Be it structured or unstructured data, business analytics tools are needed to find relationships in all forms of it.
- The future of business analytics tools is becoming defined by new applications supporting data exploration via intuitive interfaces are defining the future of business analytics tools. These new apps will support analysis workflows using something like a Natural Language Processor.
Avant-Grade analytics tools for businesses are bridging the gap between business-led, predictive and descriptive analytics, contextual analytics. The group of advanced analytics tools are quickly overshadowing the traditional Business Intelligence (BI) applications. Following are the five Avant-Grade business analytics tools for any business’ big data needs:
It is a full-featured business intelligence system that offers functionalities of BI, Enterprise Performance Management and Business Analytics in one platform. The product provides a self-service data-discovery environment that serves mid to large companies in various industry segments.
Providing an end to end business intelligence solution, Sisense helps to prepare and analyse complex data easily. It caters to the complete life cycle of data analytics including data extraction, processing, mining, visualisation and storytelling. The product is designed to handle all sorts of data, be it small datasets or complex, big unstructured data. For managing complex data models, it provides ETL capabilities and visual data management environment.
- Dundas BI
Award-Winning browser-based business intelligence and data visualisation software, Dundas BI secured the first place in performance satisfaction, product satisfaction and embedded BI in the prestigious BARC BI Survey 17. Along with examining data, it also structures the data for easier processing. The product has multiple built-in functionalities, fully open APIs and active data flows adapted to the user’s skills. So it means, the user does not need to depend on multiple tools.
- Tableau Big Data Analytics
By rapidly transforming data into smart business analytics, Tableau makes everything easy for the user. Be the data of any size, format or subject Tableau simplifies the way it is explored and communicated. It is a new kind of business intelligence software with rapid-fire business intelligence.
- TIBCO Spotfire
Data discovery and business intelligence tool with depth, TIBCO Spotfire has the capabilities of colourful graphics visualisation and in-depth statistical analysis. Various data visualisation with custom interactive dashboards can be created to aid in discovery. Well, the scope of the tool is much more extensive.
Utilizing the result of data mining, helping in-house intelligence analysts crunch proprietary numbers, aiming for new business growth – all these a TIBCO users can do.
The list as mentioned above of five Avant-Grade business analytics tools reflects upon how successful software providers have been in simplifying business intelligence and complex analytics workflows to increase adoption. They all have been successful in making business analytics more available at a broader level of business users than it had ever been.