![]() ![]() Here is a list of 13 common business analytical tools, with a comprehensive description of each: 1. Related: What Does a Business Analyst Do? 13 common business analytical tools With the use of such tools, businesses can attain a comprehensive view of their performance and thus devise more actionable insights that can help them to make better decisions in their various functional areas. These include but aren't limited to statistical software, spreadsheets and tools for predictive modeling and data mining. Therefore, tools specifically designed for business analysis typically include features for real-time data collection, analysis and presentation.īusinesses commonly use multiple tools to carry out their analytical tasks. The functions of a business analyst include the tracking, description, management and modeling of requirements and collaborating with stakeholders such as business executives and team members. They gather data from one or several sources and store it in a repository, where a user can view and analyze it. ![]() Related: Business Analysis: Definition, Process, Techniques and Tips What are business analytical tools?īusiness analytical tools are any software applications that assist in the process of gathering, identifying and analyzing business requirements. In this article, we define business analytical tools and provide a list of 13 common ones, plus their features. If you'd like to learn more about the application of business analysis to business operations, it can be helpful to understand what tools you can use. It involves collecting and interpreting data from various sources to draw insights, tasks for which numerous tools are available. Business analysis is the process and practice of identifying the needs and concerns of an organization and devising solutions to them.
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