As more companies have started automating workflows, the demand for analysts is skyrocketing. After all, business owners need analysts to make sense of data generated through digital mediums. For example, every forum offers rich insights about changing consumer preferences, from social media to Google. However, only analysts know how to interpret this data.
While data analysts look into the technicalities, business analysts help owners make informed decisions. They compare past and current data to find gaps and improve the systems. In addition, they collaborate with key stakeholders to identify goals and best practices for enhancing the bottom line. Previously, all these tasks were performed manually, but that has become arduous due to the massive amount of data.
Business analysts have switched to analysis tools because everything is integrated with technology. It allows them to perform tasks efficiently and quickly while reducing the likelihood of errors. If you are unfamiliar with this, have a look below. Here is a list of nine business analysis tools that can do wonders for your business.
Do you have to work with loads of data? The conventional files tend to crash after every minute when the data load is high. In such cases, you have to opt for tools like QlikView. It is one of the most preferred business analytics tools, even used by Revature business analysts because of its unique features.
Besides in-memory processing and high speed, it offers a patent technology. It allows analysts to facilitate ultra-fast business reports regardless of their size. In addition, it will enable users to visualize data relationships with the help of colors and graphs, maintaining data association.
When working with raw data, alignment is crucial. If you have information all over the place, consider switching to SmartDraw. It is a business analysis tool that simplifies project management work. You can create diagrams and dashboards to align your work. Likewise, this tool can integrate with Microsoft Office, Google Drive, and DropBox, making it easy to import data. Above all, the software is protected by a firewall, eliminating all security concerns.
Lately, Board has featured in the top-rated business analysis software tools. It is different from traditional tools because of its user-friendly design and features. It allows analysts to create intuitive and interactive reports, understandable by everyone.
Besides this, it also creates dashboards, projecting crucial data on everyone’s screen. Furthermore, it is a highly scalable analytics platform that supports accurate scenario analysis and forecasting. Based on the past trends, it identifies patterns and forecasts results for the coming years.
ClickUp is a customizable business analysis tool, allowing analysts to create their custom views. That means you don’t have to fit your data into the templates. Instead, you can design and craft templates and integrate reports to drive rich insights. Moreover, this tool also offers time and task management, enabling collaboration between different business units. You can import documents from other apps, assign tasks to your subordinates, and even sync them with Google calendar. Sounds simple, no?
Does your analysis require creating wireframes? If so, we understand how time-consuming that is, draining all your energy. Fortunately, you can seek help from software and speed up this process. For example, Balsamiq is a business analysis tool for creating wireframes. It uses minutes from meeting and brainstorming sessions to develop reports and wireframes. In addition, it also incorporates feedback from the company’s stakeholders and presents mockups using PDF with links. These links allow analysts to access the prototype for demos and testing.
At times, analysts have to evaluate reports from a strategic perspective. Here, the SWOT analysis tool can come in handy. First, you must mention the company’s strengths, weaknesses, opportunities, and threats. In turn, the software will conduct a comprehensive analysis. It will highlight how you can use your strengths to avail opportunities and combat threats. The best part is that this tool is free; hence, your company won’t spend a penny on this, saving costs.
7. CASE Spec
Case Spec is another impeccable business analysis tool. It allows analysts to manage projects with complete traceability. Similarly, it will enable users to categorize products with trace graphs and special editors.
Besides this, it supports customizations with different links, allowing you to share and collaborate with other units. It also offers baseline comparison for all the reports generated, automatically giving monthly and yearly evaluations. About the user interface, the software has a precise predefined template, making it easy to use.
Business analysts often work on the same project and towards the same goal. However, collaborating seems like an enormous challenge due to limited data sharing options. For example, you can’t exchange large files over email, whereas other forums can expose the company to data breaches. Luckily, Trello is an incredible collaboration tool for business analysis. It enables the communication between teams, allowing them to share information securely.
Most analysts face trouble with data representation. Even though everything is analyzed in the reports, communicating those insights with the team can be challenging. For this, you can use iRise. It offers working visualizations of business software. Simply put, it will turn information into bar charts, histograms, and graphs, promoting user understandability. iRise also offers ALM integration that helps an organization manage analysis from beginning to end.
Believe it or not, technology has made everyone’s life much simpler, and business analysts are no different. However, a few tools and software solutions can help business analysts work smartly and more efficiently.
In addition, automated analysis and reporting systems will reduce the likelihood of errors, ensuring accuracy. Therefore, start experimenting with these tools and make the most of them.