Data analytics is the process of applying statistical and mathematical algorithms in analyzing large data sets to be used for predictive reporting and forecasting from current data insights. Data analytics enables organizations to move one step above reporting data insights, by applying elements like predictive modeling on current trends and patterns for informed decision making.
Business Intelligence uses data software and services to transform raw data into actionable business insights in business reporting. These insights lead stakeholders in making strategic and practical business decisions to improve their operations, products, and services.
Discovering more about your raw data means leveraging software or services called business intelligence (BI) tools. BI tools are at the heart of every data analytics department or data-centric organization. Many companies use more than one BI tool for various functionalities depending on the workflow.
BI tools process captured data and present data discovery as insights. These analytical findings are presented as data visualizations and summaries that can be transported into reports and dashboards to provide users with intelligence about the question at hand.
A data visualization is a visual representation of raw data used for dashboards and reports. Data visualizations are graphs, diagrams, or charts. Visualization generally makes explaining data insights more compelling and impactful to an audience.
Now that we have talked about data analytics, let us learn about the four most impactful BI tools on the market today. ThoughtSpot, Tableau, PowerBI, and Qlik are leading the pack in data analytics. Here is why.
ThoughtSpot is a BI tool that uses artificial intelligence (AI) to act as a google-like search for ease of business use. ThoughtSpot uses AI to search for data insights you might have never thought to ask while using both natural language and a drag-and-drop feature to find answers to questions you are looking for.
Most users attest to the ease of use for creating dynamic data reporting. No need to be a data or even a BI tool expert with ThoughtSpot at your side. ThoughtSpot users benefit from having regular product updates and the platform could be slightly customized based on client feedback. ThoughtSpot support works very closely with clients and vendors with tasks like setting up supported data architecture for their business needs.
Tableau is a powerful data visualization tool that uses raw data to pull out trends and insights easily from structured data. Tableau uses a drag-and-drop feature as part of its initiative interface, making data querying fast and dynamic for its users. While Tableau is user-friendly and requires no coding knowledge, most users face an intermediate learning curve before they can drive optimum results with this BI tool.
Power BI is Microsoft’s BI tool for business intelligence and data visualization. Power BI was developed in 2013 as a way for business end-users to track their analytics in one BI tool. Power BI features an interactive user interface that helps non-technical users create dashboards and reports by converting data from various sources into its easy-to-use interface.
Accessible data discovery for quick deployments and configuration is the concept behind Qlik’s technologies. Qlik makes business insights accessible for data-driven decision-making to all its users. This BI tool differentiators include the Qlik Associative Engine, which searches and explores every possible relationship in your data, resulting in faster insights without any boundaries.
Well, it depends on your organization’s needs. We can help with a one-on-one breakdown! Use the contact link below or reach out on social media.
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