Business Analytics Tools

Nikita R.

Media-savvy content creator, with a curiosity for all Salesforce experiences.

Updated: Nov 15th, 2023

Are you trying to figure out how to make data-driven decisions in your business? The best way you can is with business analytics tools. They give you insights into the business operations you want to study and let you make informed decisions at the end of the day.

Keep reading our article to learn more about how techniques and tools for business analytics can help you identify trends, business opportunities, and risks in your industry based on data.

Business Analysis Tools

There are many business analysis tools that you could use to collect and examine data. The one that you end up choosing must match the requirements of your study or you will be wasting good time.

Every business analysis tool is designed with a different purpose, so take a look at these 3 common tools below to see if they might fit your research purpose.

SWOT Analysis

The first tool on our list that is super popular and used in many different business areas is SWOT Analysis. The SWOT term is an acronym for Strengths, Weaknesses, Opportunities, and Threats.

Managers often use SWOT Analysis to take a look at the team or company’s internal strengths and weaknesses as well as the opportunities and threats that face the business.

Opportunities and threats are external factors, but all data collected from a SWOT Analysis are used to make business decisions.

PESTEL Analysis

With PESTEL Analysis, you can examine the external macro-environmental factors that affect your business. The acronym PESTEL stands for Political, Economic, Social, Technological, Environmental, and Legal.

Porter’s Five Forces

The last business analysis tool we would like to discuss in this article is Porter’s Five Forces. This tool is used to examine any competitive factors that exist in your specific industry.

Businesses find that Porter’s Five Forces is a well-rounded tool to find out about new companies entering the industry and the threats that they bring to your organization.

It can also be used to create bargaining strategies when dealing with suppliers and customers.

What do Business Analysts do?

Business analysts will employ the tools mentioned above and software to help the organization that they work for. With the assistance of these analytics solutions, business analysts can improve business processes across all departments, make decisions, and help teams meet their project goals.

Companies hire business analysts to make sure that the technology solutions that they provide to customers align with the needs of the company.

Let’s take a look at some of the tasks that a business analyst would have to perform on a regular workday.

Elicit Requirements for Projects

As business analysts have to understand the solution provided by a team, they are responsible for documenting the project requirements, the business need for the solution, and the objectives the business wants to achieve.

You will find that business analysts spend a lot of their time in meetings, talking to stakeholders, clients, managers, subject matter experts, and end users to gather requirements for the project.

Business analysts collect information mostly by engaging in interviews or sending out surveys.

Analyzing Data

Next up, after collecting data, business analysts have to analyze the data. They perform this task to identify trends and patterns that can arise in the data, which can shine a light on areas in business that can be streamlined. Analyzing data is also used to create reports that can be sent to managers to aid in decision-making.

Process Modeling

Another common task that business analysts get assigned is modeling processes. This activity will include creating flowcharts to show colleagues, partners, and important stakeholders current methods and new ones that will be adopted to optimize business operations.

Process modeling is an essential task to help identify traffic jams in the workplace so that workflows can be revised and optimized.

Business Analytics Software

A lot of these tasks performed by business analysts can be time-consuming and error-prone if conducted in a manual manner.

Since collected data needs to be accurate as it will be used to make informed business decisions, it is absolutely crucial to get business analytics software to collect, analyze, and display data. The appealing part about getting the best programs for business analytics is that when you invest in them, they can be used across all departments in your organization, no matter which industry you belong to.

When you look for a market-leading software that focuses on business analytics, make sure that it contains these basic features and functionalities:

Your business analytics software should collect data from many locations, such as databases, Microsoft Excel spreadsheets, cloud services, and Salesforce, to name a few.

The software should have data cleaning and transformation tools. They will help to keep your data accurate and consistent across all the platforms that you are integrated with.

Your software must have data analysis tools! A good business analytics platform will give you statistical and analytical techniques to work with your data.

Titan for Business Analysis Solutions

Titan is the market-leading no-code platform that you want for business analysis. Our powerful platform integrates directly with your Salesforce database to read and write data to your web projects in real-time. With Titan, you can create custom documents, web forms, and apps, add eSignatures to projects, and build surveys fast!

Our platform is extremely flexible and lets you build scalable organizational processes that connect your teams, customers, and partners.

If you want to reduce development costs, improve your user experience, and increase your revenue streams, we suggest you look no further than Titan.

The Titan platform has a solution for any use case! Take a look at our apps in more detail.

Titan Docs lets you build custom-branded business documents directly from Salesforce in seconds. Add digital signatures for approvals and save your documents in multiple formats. You also get to add dynamic content to your documents.

Try Titan Forms to create fully customizable forms using complex conditional logic and dozens of integrations. You can easily add maps and schedulers to our forms that have responsive design in mind.

Use Titan Sign to generate ready-to-sign documents directly from Salesforce. Add digital signatures to your documents if you need them and automate your approval processes from end to end. We have a progress tracker as well as complete security.

Do you need to gather requirements? Try Titan Survey to build insightful surveys and questionnaires for every kind of audience or business use case. You can add conditional logic and custom styling to surveys that have responsive designs. With Titan Survey, you also get reports and analytic tools to work with your collected data.

With Titan Web, you can create web apps for every website and portal. From landing pages to payment portals, build and launch fully responsive no-code web pages in minutes.

Titan Flow helps to automate workflows with zero code for every business process. We provide conditional logic, advanced reports, and 100% automation capabilities.

Or do you need to manage your contract lifecycle? With Titan CLM, you can create automated contract lifecycle processes for Salesforce using zero code! Colleagues can collaborate on dynamic documents that contain bi-directional updates from Salesforce.

If you would like to know more about a specific Titan app or need a full feature breakdown for automation, please feel free to reach out to us. We are #1 on Salesforce AppExchange and can be found on all the leading social media platforms.

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Disclaimer: The comparisons listed in this article are based on information provided by the companies online and online reviews from users. If you found a mistake, please contact us.