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Top Data Analyis Tools one can learn today.

Data is most occupied in daily business. A click, a look, a smile can be data and it can be used for analysis as well. On the business side, major decisions are based on data. Data can take your business to huge success in the same way that the same data might take your business to the bottom of the barrel of loss.

You might wonder how data can lead us to a conclusion or happen to be a decision. Let's look into an example. Do you believe the public should buy those shares blindly, or will some sort of analysis be required? If analysis is required, then investors should have proper data available about the X company. It may be company profit and loss data, public opinion data, management decisions data, etc. Upon the data analysis, can an investor make a decision whether he can invest in those shares or not?

 


What is Data Analysis?

A process of inspecting, cleaning, transforming, and modelling data with the objective of getting meaningful insights out of it.

Data analysis can be done with various tools. I would like to recommend you some of the most popular and easily accessible tools that one can use to analyse the data.

  1. Microsoft Excel: MS Excel is a great platform that will help you analyse the data and get useful insights from it. Excel is easy to understand and use. Excel can be mastered by someone who has no knowledge of coding. Most companies use Excel as the major tool for data storing, manipulation, and analysing. One of the disadvantages with this tool is that it is not capable of handling huge amounts of data compared to Sql or any of the programming tools. Excel also has a VBA/Macro application where you can use VBA codes to automate repetitive Excel tasks.
  1. Python/R:  it’s a programming language we use mostly for data analysis and reporting purposes. R is used for data cleaning and advanced statistical analysis, but Python libraries will help one with data cleaning and the greatest analysis and visualisation work. Python is a popular programming language for data science projects, and it has a large community to assist with the tasks.
  1. Power BI: Power BI was named as a leader in analytics tools by the Gartner 2020 Magic Quadrant. This tool will help you prepare great data visualisations through Dashboard. Power BI is also one of the tools which are widely used in the business world.
  1. Tableau : Tableau is the Market leader in the Business Intelligence tool. Tableau helps one to interact with live data and to get great visualization to make proper business decision. It also provides options such as Tableau desktop and Tableau online where you can save your reports.
  1. SAS : SAS is a statistical software widely used by the financial industries to get insights from the data. SAS also introduced free university edition for students to learn the software. As all above one can also handle data from data cleaning to powerful data presentation.
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