In the present digital era, technological transformations have made a plenty of data accessible that can be optimized for better business performance. Data in turns generate vital information that enables to take smarter decision, to keep pace with emerging and fluctuating market trends, to analyze performance, to form strategies and even new ways for better improvements. But to carve out the vital information, collection and processing of data are essentially required that can be a time consuming task. For faster and more accurate results, one can use any available data analytical software based on Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR) or any other advanced algorithm. However, there are many factors involved in rating any analytical software viz. Performance check, compatibility with various systems, Total cost of ownership, ease of use, etc. All software comes up with some unique features, which make selection of one over another a difficult task. Let’s have a look on top 10 trending analytical software.
- Sisense: Natural Language Detection (NLG) technology, Data Visualization and Anomaly detection with a user friendly dashboard make it a top of all analytical software. Aimed for business data analysis, it is easy to operate for even non technical users through its set of tools and features. A faster speed, user friendly dashboard, advance BI reporting, more accurate predictive analysis and no requirement of hard coding are some of the features of this product.
- SAP Business Intelligence Platform: It is a BI solution that delivers easily understandable and actionable information. It can be used for solving specific business needs and decision-making as it collects IQ of any business, generate required insights and produce usable solution that can be accessible anytime and anywhere. It enables broad data integration and supports both SAP and non SAP data sources. Broad data integration, anytime anywhere accessibility, multiple users, efficient decision making and understandable data visualization are some of the features of this product.
- Looker: It is a web based solution that collects data from various sources and loads it in a SQL database. After processing for custom business logic, it makes the result accessible for all the users through dashboard, insights and exploration. Its unique feature is that it does not lock the data in analytical tool and make it accessible to users. Data delivery is also easy but it is less user friendly and advanced than above two.
- Yellowfin: Known for its story telling data visualization, this solution was created to solve multiple data analytical objectives and to compile data exploration, reporting and data analysis to one platform. Accessible by both desktop and mobile devices, this solution also provides facility to integrate it to various business systems, add-ons and widgets. Multiple data visualization options, integration to other system, machine learning capabilities, customizable notifications and performance insights for smarter decision making are some of its unique features.
- Good data: Based on cloud data analytics, it performs and presents secure data analysis from the beginning i.e. collection of data to the generation of insights. Capable of making data driven prediction, this solution is specifically built for addressing needs of insurance, retails, finance services and lSV. This tool ensures enterprise-grade security on HIPAA, GDPR, SOC II and SO 27001
- Birst: This system makes use of connected network approach that links insights for making better business decisions. Multi tenant cloud architecture, adaptive user interference and User data tier approach are some of the features of this tool. These networked analytics solutions combine the speed, agility, and usability of consumer-grade desktop tools with the needs of IT specialists for data governance and scalability. The unique feature of this product is that developers can create their own connections using this for both centralized and decentralized teams.
- IBM Analytics: With specialization on evidence based insights, IBM Analytics simplifies data collection, organization and analyzation that generates optimization of procurement, management and scale of business. It also allows collecting data from various sources. Integration of Machine learning, perspective analysis and predictive analysis makes this system more efficient for business enterprises in comparison to other alternatives.
- IBM Cognos: It is more applicable when user wants to make quick decisions using smart self service capabilities. Self service functionality, accessible report using both online & offline ways, wide options for selecting analysis method like trend analysis, analytical reporting, what if analysis, robust automation and completely cloud based technology are some of its features.
- IBM Watson: It is an advance data analytical solution based on artificial intelligence and cloud computing offers smart data discovery and analysis. Due to induction of atomization, without help of data analyst, anyone can easily gather data and get answers that are more understandable using its cognitive tools like natural language dialogue. It enables any user to visualize trends and present them in very specific form.
- STATA : It is a researcher to researcher data analytics software for obtaining, exploring and manipulating data. It is a complete and integrated software package for all tools needed in data management, analysis and design. It is very fast, easy and secure. For a non technical person, it is hard to operate. But option of writing script for any specific or additional task makes this software very usable for data researcher as it produces publication quality graphics.
The process of analyzing data for better business performance doesn’t stop at purchasing or selecting any data analytical software. For more utilization of data, one has to focus on ins and outs and data science involved in that analytical software. Hope, this article will help you a lot in your data journey. If you know any other good data analytics tool, do let us know in your comments.