Global threats like a world war, depression, and epidemics are looming over businesses and individuals around the world. With no idea when the disaster will strike, companies must make themselves future-proof and navigate the defensive tool to survive such a volatile situation.
However, to overcome such uncertainty, businesses need to think and work on new ways of developing and transforming their business. The prominent way that strengthens business resilience and plays a critical role in times of ambiguity is digital transformation.
Enterprises will need innovative business analytic tools that aid businesses with insights, visualization, prediction, and comprehensive business overview.
Data analysis tools for business has the ability to predict upcoming trends, fashion change, and changes in the behavior of customers’ need. Business Analytics Software Tools aid businesses with a complete overview of the industry from one intuitive and user-friendly dashboard or platform, which makes business decision-making seamless and easy.
According to the survey, 67% of the global workforce use or have access to BI tools, and the global market value of BI will reach $39.95 billion by the year 2027.
What Does Uncertainty Entail in the Modern World, and How Can Businesses Prepare for This Impending Uncertainty?
Due to global economic uncertainty, no safe havens exist for any business anywhere in this modern world. The looming threat can originate and deviate from a range of factors – the worldwide organic recession, World War III, the spread of innovative industries, abrupt swing and out the fashion of necessity, choice, and loss of faith in financial institutions are just some examples.
Moreover, the black swan, called exceptionally unpredicted uncertainty like a pandemic, can have a brutal impact on businesses that lead enterprises to destabilize their existing business within a span of days.
Additionally, the economic, social, and political uncertainties enhance the instability in the market. Disruptive technologies, rising supply chains, and business competitiveness are other sources of uncertainty. Hence to survive in such disruptive market certainty, businesses need to consider something out of the box!
The question here is How?
How can Businesses Prepare for this Impending Uncertainty?
The answer is simple: Given the ongoing unpredictability of the globe, businesses in every sector must invest in digital capabilities to enable them to accomplish more with fewer resources. Embarking on digital technology will navigate this change and emerge stronger with more resiliency, scalability, and agility.
Getting more done with less effort doesn’t require longer or harder work. It entails using technology to expand your capabilities and, ultimately, the accomplishments of organizations under the constraints of the present. Your business won’t grow because of it.
To make businesses more future-proof, resilient, and agile, enterprises need transforming technologies like business analytics tools that move your business the best way and do your business to stay afloat even in volatile market situations.
However, with a litany of transformation BI tool provider options available in the market, organizations get baffled and laid a lot of effort into exploring and investigating the best BI tools in the market.
Nevertheless, to make your efforts worthwhile, we have listed the 10 top data analytic tools providers can aid your business to get transform digitally and get the resilience that your business is looking for:
10 Best Business Analytics Software Tools
Microsoft Power BI
Microsoft Power BI solution gains 36% of the total market share of business analytic tools and leading BI tool software providers worldwide. Microsoft Power BI offers adaptable, powerful, and user-friendly data analysis tools that enable them to discover insights crucial to their business’s success.
With the aid of this technology, it is possible to securely exchange data reports and dashboards between applications while they are being developed, set up, and maintained.
The data analytics and business intelligence platform from Google is one of the greatest BI tools for data exploration. Because Looker provides a powerful API, users can build their own applications on top of the data by utilising its special features.
Tableau’s data analytics software is regarded as the best integrated visual business intelligence solution on the market. Tableau is a well-liked option for companies of all sizes due to its efficacy and productivity. Additionally, Tableau integrates Salesforce’s Einstein Discovery AI with business intelligence (BI) tools, enhancing their capabilities and increasing organisational effectiveness.
Qlik data analytics’ machine learning capabilities help firms run more efficiently and effectively. QlikSense and QlikView are two data analytics solutions that are built primarily for small- and medium-sized entrepreneurial businesses that come with Qlik.
The San Francisco-based company is a seasoned BI tool developer in the market. The tools offered by Splunk can handle various aspects of data analysis. The Splunk tool can monitor and analyse the data from vast infrastructure and repository it in the form of graphs, dashboards, and reports.
Zoho Analytics offers a wide range of APIs, a drag-and-drop interface, and AI and machine learning capabilities to enable quicker responses and more fluid app operation. It provides a user-friendly connector interface in addition to reports and dashboards, well-known apps, cloud-based applications, and on-premises databases.
With its precise predictive analysis and data set control, Rapidminer is a useful and efficient analytical tool. Thanks to its sophisticated data forecasts, visualisation tools, and data mining capabilities, it is more than just an analytical platform.
As the name suggests, it is open-source software for writing apps. It was clear that it requires coding skills, but it also gives newcomers or those learning to code the opportunity to do it quickly and get started in the coding and programming field.
More than a thousand connectors are available through Domo, with the option to combine applications that automate corporate processes and transfer data anywhere, anytime. The widespread use of Domo analytics solutions is encouraged by the elegant and simple user interactions that Domo offers, which are beneficial to new initiatives and promising technologies.
The greatest data analytics tool for business decision validation and real-time measurements is Klipfolio. Using a sophisticated data modeller, users may edit, update, organise, and manage data anyway they see fit. Thanks to PowerMetrics’ historical data recording, users can easily match, compare, and evaluate time periods and examine historical trends.
Overcoming the Looming Uncertainty
To overcome the looming uncertainty in business enterprise, need to address the fundamental business requirements by improving technical efficiency, migrating towards the cloud, and choosing the right partner for technology integration, choosing the right partner to enhance your operational abilities and aid your business with the right pathway.
Choosing Microsoft BI as your analytical partner is the right step to go ahead. The power BI Consulting services from Microsoft have proved best, according to the survey. The organization can stay relaxed and continue concentrating on company development areas relying on the data work of the Power BI development company.
Michael Donald is a senior IT Consultant at leading Microsoft Gold Partner Company, Bitscape. He has unified experience in adding value to the existing technological architecture of various businesses. During his professional journey, he has tackled a wide range of challenges and has built the ability to work through challenging issues in any industry.