BEST 5 TOOLS USED FOR BUSINESS ANALYTICS IN INDIA
INTRODUCTION
Business
Analytics refers to studying of data of an
organization and using all the obtained information to make decisions
pertaining to the organization. Statistical analysis of the data plays a major
role in the process of business
analytics. Data can help the organization to come up with optimized plans
in future and is also treated as a major asset for every company. Efficient business analysts help organizations to
derive maximum conclusions from this data and help companies in their path of
data-driven decision making.
TOOLS
USED FOR BUSINESS ANALYTICS
There are several tools that
organizations have been using for the process of business analytics and ultimately come up with more profound and
optimum decisions pertaining to their company. The most commonly used tools for
Business analytics in India are:
·
EXCEL
It is one of the most
widely used business analytics tool
and almost every company uses it. It is basically a spreadsheet software
developed by Microsoft which contains a good number of features including
calculation, graphing tools, pivot tables etc. It is available on all platforms
and is used by all the companies for some of the tedious works. Excel provides
a great connecting link between the analysis and the business team, therefore,
it is a great tool for business analytics.
·
TABLEAU
The software can be
used to produce data visualizations by focussing on business intelligence and
can come up with some outstanding results beneficial to the company. The software
has a focus towards US. But there are some companies like Ashok Leyland in
India which have been using it for the purpose. The software is known to derive
information from spreadsheets, databases, cloud and produce graphical results
which can help a lot in the analysing and optimizing business processes.
·
R
As of now, it is most
effective tool that is used not only in India but also worldwide. Companies
like Facebook, MuSigma, Accenture, Cognizant etc have been using this tool for
their business analytics processes. It
has been getting improved by the developers over the years and has currently
surpassed SAS in its usage. It is an open source analytics tool, currently has
over 8000 different packages integrated onto it.
·
SAS
It is one of the
commercial analytics tool which came into existence long back. This tool has
been undergoing modifications of late like package inclusion for IOT, Anti
money laundering and SAS Analytics for Mid size businesses. SAS is a versatile
business analytics tool, being used by several companies like HSBC, Citibank,
Google, Netflix etc.
·
SPLUNK
Main motive of starting
this tool was processing of log files data of machines. This tool has had
several modifications and has become one of the most widely used tools for business analytics. Web interface &
visual graphics makes it a great tool. Several Companies like Adobe, NASDAQ,
Coca-Cola etc have been using this tool for said purpose.
CONCLUSION
These tools help analysts to come up
with certain conclusion from data which is conveyed to the company. This
process of business analytics help
companies to perform and take wiser decisions.
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