Over the last few years, there has been a paradigm shift in the analytic industry. SAS (software suite created by SAS Institute for advanced analytics) monopoly is now a thing of the past, as businesses are increasingly using open-source business intelligence software solution.
Modern-day statistical analysis software tools are quite easy to learn and use in comparison to SAS. These tools are helping organizations to collect, organize, analyse and interpret corporate data. An overwhelming amount of data can be statistically designed to provide valuable insights into revenue, profitability, sales conversion costs and the productivity of employees.
Best statistical analysis software solutions in the present time majorly adopt inferential statistics and descriptive statistics techniques. While descriptive statistics technique uses indexes to organize data from a given sample, inferential statistics helps organizations draw insights even from random variant data.
Both these statistical analysis techniques help companies in making crucial business decisions regarding revenue, profitability and customer satisfaction. Let’s have a look at top 10 statistical analysis software for business, which are helping businesses by identifying trends in the marketplace and risks associated with a particular project.
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List of Top 10 Statistical Analysis Software
IBM SPSS Base
IBM SPSS Base is an impeccable statistical analysis software, which helps in chart creation with advanced reporting functionalities. It is also useful in making hypothesis for testing, identifying trends and making predictions. Businesses using IBM SPSS Base can outperform their competitors and make smart business decisions by using advanced statistical analytic features of this software.
Brainpower BI is a comprehensive intelligence and analytics tool, which helps organizations in defining future strategies and monitoring them with efficiency. Its user-friendly interface helps users in streamlining mission-critical activities like budgeting and forecasting. This software also generates customized reports and effectively monitors governance, risks and statutory compliances.
Quick MyReport is a trusted business intelligence tool, which helps in data visualization in an intuitive and interactive manner. It collates and summarizes the data from multiple sources for effective report generation and distribution. This software allows trigger-based broadcasting with its unique distribution feature. This way, it saves a lot of efforts and time of users in extracting, loading and transforming the data.
PanBi is a business intelligence solution that configures and interlinks dashboards to support Extract, Transform and Load (ETL) processes. It has a robust security layer that collects data from different sources to generate customized analysis reports. In addition, it has an exhaustive user management capability backed by data visualization tools. This helps in augmenting and enhancing its flexible external API integration capabilities.
Zoho Reports online reporting and business intelligence solution helps businesses in visually analyzing their corporate data and creating insightful reports. It is a useful tool for making informed business decisions based on detailed analytic reports. This software also provides effective data connectors like Google Analytics, cloud storage, database and Salesforce CRM for insightful reporting.
This unified business intelligence tool helps in preparing and analysing a large set of data at scale. 50+ pre-built data connectors of Ideata Analytics allow users to connect data across different sources, regardless of the format. Its advanced data cataloguing feature further helps in creating a central repository of enterprise data. Ideata Analytics provides more than 20 advanced chart types, making it simple for users to visualize and share business insights.
WebFOCUS provides a single platform to fulfil all business analysis needs. This business intelligence platform helps businesses in making smarter and effective decisions based on trusted data from different sources. Businesses can turn unorganized data into useful insights through predictive analysis, visual discovery and operational intelligence.
Quirkos is a qualitative data analysis software, which helps users sort and manage textual data in different formats. It is popularly used for comparing themes across different data sources and for coding relevant data sections. Data coding becomes quick and easy with its visual interface feature. Qualitative researchers use this statistical analysis software for analysing data like articles, surveys and interview transcripts.
Atlas.ti is another popular qualitative data analysis tool in the market. Qualitative analysis of large textual, audio, video and graphical data is possible with Atlas ti. Users can work with a vast range of media and textual data and extract valuable insights through automatic searches. This software provides the most integrated way to manage your data through visualization and analysis.
Ideal Analytics allows users to perform free cloud-based data analysis from anywhere and at any time. Users can extract data easily from an excel file and other sources like LinkedIn and Salesforce to perform hassle-free analysis.
In the recent years, businesses are largely using statistical analysis software and business intelligence tools to harness the power of data and gain competitive advantage. By embracing modern business intelligence tools, organizations can now successfully maximize data control and governance.