Software Used By A Business Analyst

By Author: ramky johny
Total Articles: 34
Comment this article

Today’s business scenario has become very competitive with a view to perfection and technologically accurate analysis. However the MNC’s prefer to buy business analysis software to facilitate this entire process. It’s not necessary that the software has to be very expensive but there are various types of software for business analysis which are available in the market dedicated to business analyst training. In fact business training has become much easier than ever before with the advent of these types of business analysis software. Let’s discuss the varieties of them:

1. General Management/Quality management software: If you are involved in creative thinking, business analysis thinking, data analysis, projects then this type of software is very essential. Benefits of this type of software is that you may manage any type of virtually managed project which includes Balanced Scoreboard, Six Sigma Quality, ISO 9000: 2000 , Benchmarking, Strategic planning, Reengineering and Total Quality Management. You may use this software to organize your projects, meet support tools, prepare flowchart tool, design cause n ...
... effect/tree diagram tool, form design tool, brainstorm and affinity diagram tool, consensus builder tool, forced field diagram tool and slideshows.

2. Business strategy software: Helps to give your business a perfect strategic outlook and competitive review by providing expert advice from leading business strategists and models. Software like Quick Insight ensures that your product or service is launched successfully by using expert advice and analysis of market potential.

3. Forecasting Software: Helps to automate the forecasts of sales, marketing, finance, manufacturing using the trend analyses, time series analyses, regression analyses and other forecasting techniques. You may use them to forecast automatically using expert mode by yourself, analyze advance decisions using forecasting model, forecast thousands of batches per set by using larger data sets, perform a thorough financial analysis including financial statements, ratio projections, funding and analysis requirements.

4. Artificial intelligence software/Neural software: This software applies artificial intelligence or neural network algorithms to analyze business data. Very much useful software for business training .

5. Statistics software: These types of software are used to perform a variety of powerful statistical analyses. You may turn your spreadsheet to a powerful statistics engine, improve projects and meet management, quality management and data analysis requirements.

6. Data mining software/Data visualization software: These are software tools to mine and analyze data to uncover hidden pattern and relationships within data. They help to extract data from your existing reports, databases, .pdf files, .html files and more. The advantage is that you can extract data from your records with no IT assistance.

7. Optimizing software: This sort of software is used to deduce an optimal solution of a business problem provided there are some constrains in the system.

8. Project Management software: These are type of project management software tools that help to effectively deliver projects on time and within budget. The tasks included are general project management, brainstorming and facilitation initial projects and process improvement projects.

9. Business Process Management software: These are software used for documenting, simulating, data analyzing and business forecasting.

All these types of software for business analysis is very much useful and mandatory for business training for a company who should appoint a special business analyst training under the hands of an expert trainer.