5 Best Business Analytics Tools for Tracking Performance

Fiverr Team
February 4, 2022
business analytics

If you’re looking to scale in the foreseeable future and increase your company’s revenue streams, it’s essential to have a diverse and robust tech stack.

Utilizing the best business analytics tools can provide you with actionable insights to improve your business by helping you to make informed business decisions. Whether you’re a small-to-midsize business or a large enterprise, it’s essential to take advantage of data tools right away, and the good news is that business analytics software is now more accessible than ever.

In this guide, you’ll find the top business analytics tools to help you collect, analyze, and convert data into reports. But first, let’s delve deeper into what business analytics tools are and how they can help your business.

What Are Business Analytics Tools?

Business analytics tools are usually known by several different names, such as BI tools or analytics software, but they’re often similar tools to one another.

The general use of business analytics tools is to provide intelligence and valuable insights by analyzing data. Some of that data may include key performance indicator measurement, sales data, business health planning, and risk assessment to help you make more strategic business decisions.

It’s also important to note that business analytics tools can retrieve data and present it in real-time, empowering your organization to spot trends through advanced reporting and identify problems such as supply chain issues.

Top Business Analytics Tools

Here are some of the best business analytics tools for tracking business performance. Whether you’re a computer wizard or not very tech-savvy, there are tools available for users with different skill sets.

1. Sisense

Sisense is a great business analytics tool that can help to manage data sets, alongside visualizing data without the need for IT specialists.

With Sisense, you can retrieve data from Salesforce, Adwords, and Google Analytics to combine the data and create analytics reports. Sisense is a cloud-based platform, allowing you to access analytics data from anywhere, which is especially useful for employees that are working from home.

2. Tableau

As one of the most popular business analytic tools, Tableau is a business intelligence platform that can analyze data and visualize it with ease. Tableau currently supports data inputs from Google Analytics, Oracle, MS Excel, Salesforce, and MS SQL.

One of the great aspects of Tableau is that there is a cloud-based version and a local version of the platform, which can be run via desktop. If you’re interested in Tableau, there is a free edition for personal use and an enterprise version.

3. Google Analytics

Google is a household name, so it should come as no surprise that they have their own set of business analytics and intelligence tools. Google Analytics allows you to track business performance online, alongside measuring website metrics, ad, and social media data.

Google Analytics is a great tool to collect and analyze data on the surface level—it can provide business intelligence to understand your audience demographics better. However, a lot of companies often find that they need more advanced business analytics tools to help them make smart business decisions.

4. SAP Business Intelligence

As a leader in providing business intelligence software, SAP business intelligence software provides advanced insights through the retrieval of data. Within a single platform, SAP business intelligence can enable machine learning, help with business planning, and aid BI predictive analytics.

Important note: SAP Business intelligence is an advanced analytics tool and isn’t as beginner-friendly as some of the other tools available.

5. Microsoft Excel

As one of the most popular and commonly used pieces of software in the world, Microsoft Excel is often used by the IT industry and non-analytic professionals to input and store data.

Whether you’re a small company or a large organization, Excel can be vital for collecting data and distributing it to reporting tools.

The Best Business Analytics Tools

In today’s business landscape, it’s important to have every tool at your fingertips. Retrieving and analyzing data to provide better business intelligence can help you make informed business decisions and improve your bottom line.

To get the most out of your data and business analytics tools, hire a professional data scientist today.

Fiverr Team
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