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Analytics Software
To carry out data analysis efficiently and appropriately, the staff members need tools to deliver the best results possible. These tools help the business to analyze several data stores. They’re effective that they can perform data mining to monitor several business activities.
Featured Analytics Software
Xero
Xero has completely transformed the way we manage our accounts and made our team 10x more productive than it was before. I’m glad we made the switch!
Shawn James, GetUp Co.
We’re so grateful we found Wave when we did. It’s simplified our bookkeeping and made us look like pros to boot. The perfect tool for small businesses on a budget.
Leon Lee, Teetime
Having used Freshbooks for over a year now, I can confidently say that it is a perfect accounting tool for businesses that want efficiency without breaking the bank.
Fiona Hunt, The Wave
What is Analytics Software?
Data analytic software is a digital tool to perform qualitative and quantitative business data to enhance productivity. This digital technology allows the organization to mine and group data and identifies and analyze patterns to get a clear insight.
Common Features of Analytic Software
Good analytics software should generate reports that can benefit the business and be time-efficient. The following are some common features of analytics software:
1. It should be accessed from anywhere
Whether you are a home or in the office, it is always important to be able to make an accurate decision. The business industry is quickly evolving, and you must be quick to meet various demands that it brings about. Postponing activities until you reappear to the office to check the reports will significantly cost the business. Therefore, ensure that the tool you are landing on can be accessed from home, in the office, or at a meeting.
2. Dashboards
Gain instant insights by seeing well-represented data. The data is often presented in graphs and tables – this helps you highlight important features. With a good dashboard, you’ll want to look deeper and answer questions that may arise. Additionally, a good dashboard helps you manage your sales data and store cards.
Also, it helps you drill down any data feature you see and handle it the way you want. The customisation feature should help you categorise by products, customers, or any other preferable feature for your organisation. Through this feature, you can quickly identify sales opportunities or unnoticed business threats.
3. Combine Sales History And CRM Tasks
Analytic software tools often combine the staff’s sales performance and CRM activities. This engages all your basic accounts, allowing you to match your sales, budge, and your notes’ order.
4. Sales Call Reporting
This is the basic feature to track your sales meetings every month. This feature allows you to compare sales monthly and examine specific meetings and the relevant notes. You’ll gain transparency that can help you coach your sales team. The feature also allows you to track customer neglect.
5. Simplicity and Flexibility
Simplicity and flexibility is an important feature as it moderates the ability to use the software. Analytics software is easy to use, and you don’t need IT experience. The tools allow you to deliver great ad-hoc analysis and provide instant answers. Things that should be simple and flexible with analytics software include:
- Sales comparisons overtime
- Sales versus no sales
- Gap analysis
- The comparison of sales performance
- Trend analysis
All these features are important components of any analytic software. Lacking these features can pose challenges when generating sales and make the process even more tedious.
Why Use Data Analytics Software?
Data analytics software helps conduct data analytics to better understand the business and its inefficiencies. Using this digital technology can help the business correct unproductive workflows and track the performance to organise the supply chain. So, here is why you should use data analytics software:
1. Instant and Reliable Reporting
Data analytics software helps staff members track the basic performance indicators. It provides quick reporting data and reliable information. Through this, the organization can make decisions based on the new information. And what is more interesting is that the information is presented in graphs, tables, and charts, making the finding understandable.
2. Data Analytics Software can Deliver Clear Insights.
Through data analytics software, the business can track productivity, sales, and inventory management in various departments. Additionally, this digital technology can help determine incompetence and strength, so you’ll know what you need to fix and what doesn’t need fixing.
3. Access to the Right Insights To Maintain An Edge
Data analytics software allows you to collect and manage massive information, providing an instant benefit. Using this collected information makes it easier to boost cash flow management, inventory sales plans, marketing campaigns, and other business activities. This automatically boosts efficiency and productivity, providing a competitive edge.
4. Better Decision Making
Due to stiff competition, your business needs to make a quick decision. Failure to make these decisions efficiently means the business will likely lose its clients to its competitors.
Organizations can harness quality insights and analyses to improve decision making performance management and deliver the right information to the right people.
5. Improved Customer Satisfaction
High operational efficiency and workflow improve the quality and output management. Through targeted marketing campaigns, the business can easily address various needs and demands. This helps attract new markets, increase brand loyalty, and grow the customer base.
How to Select the Best Data Analysis Tools?
Like any office equipment, choosing data analysis software is a huge decision. Before picking a given data analytic software, you need to give it a second thought. A tool that doesn’t match your business needs can bring confusion, making it difficult to uncover quality data insights. Choosing the right data analysis tool should not be challenging. Here are some factors to consider:
1. The Objective of the Business
The software you choose should support your current and future business requirements. You must first identify the main business objectives and list the desired outcomes. The next step is breaking down the objectives into SMART analytic goals. Later, you need to select a tool that’ll allow you access to data and reporting features to help you achieve your objectives.
2. Pricing
Before choosing a data analysis tool, it’s important to consider the related prices. Different data analysis tools have different prices, and it's important to be aware of these differences before investing in the tools.
3. Interface
Employees often refer to the data analysis tool before making various decisions. The data analysis tool must have a user-friendly interface. This makes it easier for different types of users to access the tool.
4. Mobility
Mobility is the perfect way to keep every staff member connected anywhere. So before choosing a data analysis tool, consider the kind of mobility your staff members need.
Analytics software plays a massive role in business growth. An effective data analysis tool improves customer satisfaction and delivers instant and reliable information.