How does analyst analyse the problem statement and business requirement?
The first step followed by the analyst is describing the problem and desired outcome from analysis. As well as timeline, and resource decision. Next develop an investigation tool, data storage plan, analysis model, technical team, and implementation strategies.
The most common business analysis tools
Some commonly used freely available business analysis tools are as follows
1. Microsoft Word
Microsoft word available for both Windows and Mac OS. We can store data in .doc or .docx file extension.
Features
· Build in spell check and Thesaurus
· Document can be encrypted with password
· File can be exported to PDF, XML, Rich text format, XPS
· Other futures like macros, world art, smart art, layouts, numbering etc.
2. Google Form
A data collection tool from google, one can collect primary data from target audience. We can export data into CSV extension.
Features
· Quick analysis can be done by using google forms dashboard
· Quiz can be conducted
· All kind of data measure types available
· Compulsory answer option available in forms
3. Microsoft Access
Microsoft word available for both Windows and Mac OS. We can store data in .accdb file extension.
Features
· Store all kind of data
· Import and store data from HTML, SQL, Excel, Text, XML.
· Export data into HTML, Excel, Text, XML and emails.
· Create a query between data
· Simple data collection form design and store data in same Access file
· Advanced customization options are available
· Document can be encrypted with password
· Other futures like macros, relationship between data base, layout etc.
4. SQL
SQL used to handle a structured data and data operation in RDBMS.
Features
· Support cross platforms
· Data storage and manipulation
· It is a declarative programming language.
Data Manipulation and Analysis
5. Microsoft Excel
This spreadsheet software can be used on windows, mac, android, and iOS. We can store data in .xls or .xlsx extension
Features
· Support all kind of logical, arithmetical, financial, maths and trigonometric calculation
· Also support macro programming language
· Import and store data from HTML, SQL, Access, Text, XML.
· Data analysis by pivot table
· Advanced data analysis like regression, correlation, hypothesis testing by data analysis tool pack
· Can solve linear regression problem by using solver
· Advanced customization options are available
· Document can be encrypted with password
6. R – Studio
It’s a free statistical computing and Graphics software.
Features
· It can be installed in windows, UNIX, mac OS
· It can manage multiple working directories
· Inbuilt debugging options
· Inbuilt advanced graphical presentation tools
7. Google Analytics
It helps to analyse website traffic and to generate traffic reports accordingly
Features
· Free tool for analysis by Google.
· Integration of many other platform such as Facebook Pixel, Google Adsense, Google Adwords.
· Deeper insights on online marketing and business
· Simple and easy steps to generate custom dashboards and reports.
8. Tableau
Tool for data visualization without a coding experience and multiple data can be combined and published online.
Features
· Easy to create a visualization by using drag and drop techniques
· Create a multiple dashboard
· Create a story from created dash board and visuals
· Interlink between charts and table
· Data can be stored on cloud and published online
9. Power BI desktop
A visualization tool from Microsoft.
Features
· Support all kind of maps, charts, tables available
· Import and store data from HTML, SQL, Access, Text, XML and Excel.
· Create a multiple dashboard and export into PDF and Image format
· Document can be encrypted with password
10. PowerPoint
A windows tool helps to create a presentation.
Features
· One can add text, image, excel table, create table, videos, graphics
· Even animation and transition on presentation and slides
· We can present online also
· Build in spell check and Thesaurus
· Document can be encrypted with password
11. OneNote
MS OneNote is a tool which is used for planning and idea generation on digital device like desktops, laptops, and mobiles.
Features
Simple and multiple books can be maintained
Creation of different modules and pages within a book
Website links can be excessed within OneNote
It supports Mac OS, Windows, iOS, and Android
Saved notes can be shared to team by outlook
12. Trello
A team management web application available for free.
Features
· It can be integrated with different platforms
· Divide and track work flow
· Can do personal work also
· Can be installed in android and iOS.
CRM - Customer Relationship Management
13. HubSpot
It’s an email and marketing analysis software helps to measuring the performance of all marketing campaign in one place.
Features
You will be able to analyse email marketing campaign
Client meeting schedule and management
Order management
Helps to create a customized report and dashboards
There are many other business analysis tools available in market. In this article we have explained a few analytical tools from different categories. Each tool has its own features and helps to optimize the analysis outcome.
One should select a right tool as per business requirement and problem statement. to learn all these tools click here.
