6 Data Analysis Solutions to Benefit Your Business

Data Analysis

Data analysis is a burgeoning part of many businesses’ operations, ensuring that they can extract optimal value from the information they have at their fingertips.

Of course, as this market is proliferating, there are many different tools available to achieve the data analysis aims that organizations of all sizes might have. This makes finding the best solutions less than straightforward.

To point you in the right direction, let’s take you through some of the top tools to consider using right now.

SQL Server

As an all-purpose database solution, SQL Server is amongst the most popular and widely used of the many mainstream platforms out there.

Few databases do it better for storing, transforming, analyzing, and organizing data, and using the SQL language is an advantage because it is both commonly understood and relatively uncomplicated. With the help of SQL Server monitoring solutions, analysts can also make the best use of their resources.

Excel

Suppose you do not need a whole server-powered database at your disposal, but you still want to store and analyze data in a tabled format. In that case, Excel remains a very valid option, especially for smaller businesses.

Even if you have ambitions to use some of the more in-depth tools mentioned here, Excel is a great way of sharing your findings with others, whether colleagues in other departments, or customers, clients, and partners. This is because the software is so ubiquitous and user-friendly that third-party familiarity is almost guaranteed.

It is also well suited to all purposes, from email marketing to customer research and product testing.

Splunk

Primarily focused on data analysis in the context of machine-generated data, Splunk may have a fun-sounding name, but its functionality is very businesslike.

It can be applied across various disciplines, from security to DevOps and beyond. It benefits from having an intuitive and accessible interface that can be used from a web browser rather than requiring a separate piece of locally installed software.

Spotfire

If your data analysis aims are more complex, and you want to pick apart unstructured data composed mainly of text, then Spotfire from TIBCO might tick all the boxes.

Aimed at expert analysts, it is flexible and scalable and is endowed with lots of automation features to catalyze even the most unwieldy of projects.

KNIME

With the power of machine learning at its back, KINME’s data analysis capabilities are ever-evolving and always efficient.

Another advantage that it brings to the table is a degree of modularity, specifically regarding data pipelines, which means that integrating and rearranging components to suit your needs is easier.

Tableau

When it comes to data visualization, it is tough to top Tableau, which is why it has managed to grow an audience among business users despite the enduring popularity of the Excel mentioned above.

Likely, you will ultimately need a combination of several data analysis tools to achieve your goals, but hopefully, you now have a starting point for your procurement journey.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.