Which Business Analytics Software Program Is Right for You?
The ability to leverage your data to make business decisions is increasingly critical in a wide variety of industries, particularly if you want to stay ahead of the competition. An estimated 40% of organizations use big data analytics, specifically, while many others harness more traditional data and business analytics software programs to gather powerful insights into operations and customer behavior.
By having the right business analytics software program, your company stands a better chance of navigating an increasingly challenging market. If you want to find your ideal solution, here’s how to go about choosing business analytics software.
What Is Business Analytics Software?
Business analytics software is a type of program with a set of tools designed to capture and assess quantitative and qualitative data from a variety of sources. When used, the solutions allow companies to generate potent insights for informed decision-making.
Generally, business analytics software programs feature a range of capabilities. Data mining, predictive modeling, performance forecasting, pain point identification, and similar capabilities are all usually part of the equation.
Why Do You Need It?
Business analytics helps companies assess their performance and secure a competitive edge by harnessing the power of collected data. Companies of all sizes gather and store mountains of information, both on their operations and on customer actions.
By leveraging the related data, it’s possible to improve operational productivity and efficiency, as well as boost sales and drive profits. Additionally, the right insights can identify areas for cost-cutting to reduce spending without hindering productivity.
Essentially, business analytics create opportunities for sounder business decisions. This software can eliminate much of the guesswork that would otherwise go into decision-making, allowing companies to adopt a data-driven approach to ensure the viability of a path before walking it.
Benefits of Capable Software
Business analytics software programs simplify the collection, management, and analysis of data collected by companies in a variety of forms. Typically, these solutions can leverage structured, semi-structured, and unstructured data, ensuring every piece of information can provide suitable value.
Additionally, many business analytics solutions aim to make what’s otherwise a technically complex process easier for the masses. The need for tech-savviness, coding skills, or similar capabilities isn’t as high when you select a program that’s designed for everyday people.
Capable software also provides functionality beyond its core tool set. For example, integrations with popular platforms can centralize activities and streamline workflows. Often, they also make communicating insights with non-technical stakeholders simpler, ensuring the information is digestible by a broader audience.
Top Provider Options
When you’re looking for a business analytics software program, choosing from the broad selection of options is tricky. Often, you can make some progress by using your requirements and budget to narrow down your choices, though the resulting search is still cumbersome in many cases.
Fortunately, you can streamline your hunt for the right business analytics software program by focusing on top providers first. Typically, these solutions are known for their well-developed tools, as well as strong customer service from the provider. Here are some options from leading providers:
- Board
- KNIME
- MicroStrategy
- QlikView
- SAS Business Analytics
- Sisense
- Splunk
- Tableau Big Data Analytics
