20 Best Business Analysis Tools Intelligence Analysis Software Tools
Business Analysis
Business Analysis is the process by
which business needs are discovered. The information on the needs of a business
is known as business intelligence.
A systematic procedure is followed
in finding business needs.
The business intelligence analysis involves:
- Defining the business needs.
- Requirements gathering, prioritizing and describing.
- Communicating these requirements and suggesting ways of implementing these requirements to the clients and technical team.
- Adopting appropriate business analysis techniques.
Business Analysis Techniques
- Strategic business analysis
- Analytical business analysis
- Investigative business analysis
- Project management etc
The Need for Business Analysis
- To gather enough documentation
- To improve efficiency
- Providing nice tools for project management
Business Analysis Process
Business analysis is done
systematically.
Get comprehensive information
about the business/project.
Prioritizing the points that require more attention or more insights.
Define the scope to cover and elaborate on the requirements. A description of requirements for correct implementation should be given importance.
Discussing the approved requirements
with the technical teams for implementation.
Identifying changes required in the project.
The process of making decisions on the scope of business
analysis is usually difficult because of its wideness, hence while performing it, the
business analyst uses his/her specialty as a Strategy Analyst, Business
Architect, or System Analyst.
A business analyst has the skills to work as a Strategy Analyst, Business Architect, or
System Analyst.
How Do Business Analysts Analyze
Business Requirements?
A business analyst in the course
of his duty, investigates, defines, and
documents the requirements. Then use the insight from this documentation to
decide the scope, timeline, and resources to adopt in the project.
A business analyst serves as a link between the client and the technical team.
20 Most Popular Business Analysis
Software
There are many available business
analysis tools. The tools are in different categories and are used to carry out different tasks. Some of the tasks include but are not limited to:
Planning,
Brainstorming,
Business Process Diagram,
Data Discovery and Data Collation,
Documentation,
Taking Notes,
Requirement Management
Model Building
Data Analysis,
Analytics,
Visualization
Presentation,
Project Management,
CRM,
Communication (Calls/Meetings),
Collaboration,
Automation
Classes of Business Analysis
Tools CRM/ERP Software tools
Documentation tools
Data manipulation and computation
tools
1 Pipedrive (CRM)
Pipedrive is a CRM tool basically designed to assist businesses in improving their sales. This tool has features that enable users to create custom CRM fields for reports peculiar to their businesses. Pipedrive is best suited for Sales Performance Tracking and Real-time Analysis. The visual dashboards on the Pipedrive platform empower users to monitor important reports and KPIs on one platform.
This insight can be utilized to establish and track the progress of individual or company-wide goals in real time
Features of Pipedrive
Gives useful insight into sales
cycle duration to make the sales process more efficient.
Accurately predict company growth
and turnover with sales forecast reports.
Track goals by adding assignees,
types, expected outcomes, pipelines, intervals, and durations in Pipedrive.
The customizable dashboard and the drag-and-drop features enable you to create visually stunning reports
out of presented metrics.
2 Creatio
Creatio is a software platform
with CRM and process automation functionalities. With this low code platform, both IT and non-IT can build the apps to suit their specific
business needs. This BPM
tool is best suited for medium to large businesses.
Features:
CRM solutions Creatio offers Marketing, Sales, and Service.
It offers a self-service platform that enables users to collaborate with their clients.
Its out-of-the-box solutions will extend platform functionality.
Creatio CRM platform has a wide range of features like 360? customer view, lead management, case management, opportunity management, product management, document flow automation, case management, customer Contact Center, document flow automation, and Analytics.
You can personalize your communication with your client through on Service Creatio.
It offers features for product
management such as maintaining a product catalog hierarchy.
It enables group products and services based on custom or pre-defined product attributes such as categories, brands, and so on.
Supported platform
On-premise and in-cloud deployment
3 Oracle NetSuite
Oracle NetSuite is one unified
Business Management suite. It is suitable for small, medium to large size businesses.
It contains functionalities for ERP, CRM, e-commerce, etc. SuiteAnalytics offers the tool of Saved Search that has the capabilities of filtering and matching data to provide solutions to different business questions.
It offers features for standard and
customizable reports for all types of transactions. It lets users create a
Workbook without having to write any code and helps them with analyzing the data.
Features:
Oracle NetSuite offers an easy-to-use, customizable, and efficient business solution with various functionalities such as CRM and ERP, which make it suitable for all business sizes.
Medium-sized businesses can cut their
IT costs in half, reduce financial close times 20% to 50%, and improve quote
to cash cycle times by 50% by using Oracle NetSuite.
With Oracle NetSuite, you are sure of a tool that can help global enterprises with their complex functional,
industry, regulatory, and tax requirements.
4 Integrate.io
Integrate.io is a cloud-based data integration platform that offers marketing analytics solution for data-driven insights . It offers no-code and low-code options that will make the platform to be usable by anyone.
Its intuitive graphic interface will help you to implement an ETL, ELT, or a replication solution. Integrate.io offers solutions for marketing, sales, customer support, and developers.
Features:
It can provide omnichannel marketing, data-driven insights to enrich your marketing database.
It offers customer support analytics
solution that can enable businesses make good business decisions and provide comprehensive
insights.
Integrate.io’s market analytics
solution offers the features to help businesses understand their customers, data enrichment, have a
centralized database, and for having an organized CRM.
5 Write
Wrike is a cloud-based project
management software. It is a SaaS product. With the help of Android and iOS
apps, you will be able to update and provide tasks from anywhere.
Features:
It will help you in setting the
deadlines, scheduling, and other processes.
It assists you in balancing
resources.
It will support you in keeping a
track of the timelines and budget.
It provides Calendar,
communication window, and approval window.
6 HubSpot
HubSpot is an Inbound Marketing,
Sales, and Service Software. Its Marketing
Analytics Software will help you with measuring the performance
of all your marketing campaigns in one place. It has a built-in analytics
facility and provides reports and dashboards.
Features:
You will be able to analyze the
site’s performance with key metrics.
You will know about the quality
and quantity of traffic.
You can filter the analytics by
country or specific URL structure.
For each of your marketing
channels, you will get detailed reports.
7 Microsoft Viso
It is an application for making
diagrams. It is a part of the MS Office for Standard and Professional editions.
Features:
Helps in drawing advanced
diagrams and templates.
Diagrams can be connected to data
sources.
It can display the data
graphically.
Advanced shapes are provided for
electrical diagrams, floor plans, site plans, and office layouts.
8 Bizagi
Bizagi provides Business Process
Management tools. It has three products for on-premise use, i.e. Bizagi
Modeler, Studio, and automation. In the cloud, it provides a platform as a
service.
Features:
Bizagi Modeler is used for
drawing diagrams. It follows BPMN.
It supports Word, PDF, Wiki, and
Share Point.
Provides agile automation
platform.
9 LucidChart
LucidChart ia web-based tool for analytics diagrams and charts.
Features:
It is useful in drawing simple to complex diagrams and flow charts.
Offers features to create a connection
between the live data and diagrams.
With LucidChart, you can import data and automatically create build organizational charts.
10 Axure
Axure RP can create wireframe
diagrams, software prototypes, and functional specifications. This tool is for
web-based and desktop applications.
Features:
Easy to use because of drag and
drop facility. You can resize and format the diagram components as well.
For wireframing, it provides many
controls like image, text panel, hyperlinks, table, etc.
It provides many forms of control like buttons, text areas, drop-down lists, and much more.
11 Balasamiq
Balsamiq also offers a GUI for
mock-up which can be used to create wireframes on websites
Features:
Offers an editor and drag and drop tools
Balsamiq can serve as a desktop
application and as a plug-in on Google Drive, Confluence, and JIRA.
Model Building Designing
12 Pencil
ParklingLogic a business analysis tool useful in
creating the decision models. It offers a collaborative platform for team work and improved
communication.
Features:
It helps in drawing graphical diagrams for business processes
The models created on ParklingLogic can be tested
with real data.
It provides traceability to
original requirements by allowing you to document and link the requirements.
Decision Model and Notation.
BPMN (Business Process Model and Notation)
13 InVision
InVision is a business analysis tool that you can use to create a design for your product. You can use it with DropBox, Slack, JIRA, Confluence, Microsoft Teams, BaseCamp, Trello, and Teamwork
Features:
InVision Studio: Tool for designing the screen.
InVision Cloud: Products designs feature.
InVision DSM (Design System
Manager): The Design System manager you can sync all your changes, and you will be able to access the library from InVision Studio
14 Draw.io
This tool will enable you to draw flowcharts, process diagrams, ER diagrams, org charts, UML, network diagrams etc. You can work online or offline. It also provides training material.
Features:
Import and export features for different formats.
The tool is compatible with any browser and device
15 Rational Requisite Pro
It is an IBM Rational Requisite Pro tool for requirements management.
Features:
Rational Requisite Pro offers features for integration with Microsoft Word.
Can also be integrated with the database.
16 CaseSpec
CaseSpec is a tool for requirements management. It also supports importing data from the
existing documents from another source.
Features:
It is user-friendly.
It helps you manage multiple projects at once.
Provides reusable data and data structure,
17 Blueprint
Blueprint is used for agile
planning. It will scale your enterprise agility.
Features:
You can use it to create lean documentation
from the artifacts.
It can be integrated with JIRA.
Enables you to deliver the product
faster.
Documentation
18 Microsoft Office
Microsoft Word is a word document processor. Microsoft Word is compatible with Windows and Mac OS. Its file extensions are .doc or .docx
Features:
It has an in-built spelling checker and
dictionary.
The document can be protected with passwords. The Passwords can be set separately, to protect the documents form being opened, modified, and formatted.
It has Data Manipulation and Analysis capabilities
19 MS Excel
Ms Excel offers spreadsheets for
business data analysis. It has features for diagrams and charts. The spreadsheet is compatible with Windows, Mac, Android,
and iOS devices.
Features:
It offers features for a wide range of statistical data analysis especially average, standard deviation, and other higher-level statistical data analysis for business.
20 SWOT
SWOT, which stands for Strengths,
Weaknesses, Opportunities, and Threats is a business analysis tool
SWOT Features:
It is very useful for effective business decision-making.
Useful for matching
strengths to opportunities, converting threats to opportunities, and turning weaknesses into strength.