Top 7 Best Business Analytics Tools Recommended for every Business Analyst

Every Business Analyst needs to use certain BA tools to succeed in his/her organization. Business Analysts use business analysis tools and techniques for various work areas such as collaboration, requirement elicitation, project management, use case analysis, workflow management, and prototype creation.
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The article highlights the types of Business Analytics tools classified based on work functions. The top tools being used by Business Analysts are also mentioned, along with their key features and functionalities. We have also discussed why Business Analysts must upgrade their skill sets in these tools and choose the best training institutes for these certifications.

Business Analysts play an important role in bridging the gap between IT and business in an organization. They help businesses improve business processes, products, and services. Business Analysts use various data analysis methods to achieve this goal. There are several Business Analyst tools for BA, using which business analysts can perform business analysis tasks more efficiently. 

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Top reasons why Business Analysts need Business Analytics Tools

One of the most common requirements for which Business Analysts need Business analysis tools and techniques is to understand requirements and business needs. Business Analysts also use these tools for effective project management, use case analysis, planning and prioritizing work, understanding organizational assets, and business processes.

There are various industry-leading business analyst tools for Business Analysts. In this article, we will be discussing the best Business Analyst tools for BA. 

What Methods Do Business Analysts Use to Examine Business Requirements?

A business analyst looks into, clarifies, and analyzes the requirements during this process. The Business Analyst will be capable of determining the project plan, timeframe, and access to essential services on this documentation. A business analyst will serve as a liaison between the tech team and the customer. There are important business analyst tools and skills available to perform these tasks smoothly. Tools for doing business analyses come in a variety of forms. These devices can be grouped according to how they are used.

Types of Business Analysis Tools

The Business Analyst tools for BA can be broadly classified based on the following functions that they address: 

Business needs assessment tools

Every Business Analyst working on business requirements and elicitation needs some specialized tools to analyze these requirements. The area of analysis can be document analysis, identifying business gaps, SWOT (Strengths, Weaknesses, Opportunities, and Threats) and PESTLE (Political, Economic, Sociological, Technological, Legal and Environmental) analysis, cost-benefit analysis, affinity diagram, or the RACI (Responsibility Assignment) Matrix. 

Analysis tools for Business Modelling

The Business Analyst tools for BA can be further classified into tools required for modeling and diagrammatic representation. A Business Analyst has to translate user requirements into use cases and diagrams for solution design and business model building. The popular Business Analyst tools available today, help Business Analysts create user stories effectively, define use cases, build various Entity-Relationship (ER) diagrams, create a feature model, and efficient prototyping.  

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Requirement-related Business Analysis Tools

An entire process flow, which often comprises use cases in which each instance defines specific functionality, may have several requirements for a project. As a result, the business analyst must update any related requirements if a use case changes. It is now quite challenging for a human to remember all the criteria and use application adaptations. Even though the requirement dramatically rises, a tool can readily preserve these linkages. In general, requirement managerial activities like requirement monitoring and requirement description can be completed using Microsoft Word or Microsoft Excel. The complete task can be managed using these tools, but they are not always impactful. Software tools for provision management may be beneficial.

Modeling Tools

Words are less powerful than a picture can convey. Therefore, when a diagram expresses a business process specification, its interrelations across various functional elements appear to be better created. Additionally, it lessens the likelihood of misunderstandings. Therefore, to depict the business relations pictorially, the business analysts utilize top business analysis tools like MS Visio for UML or Business model development.

Collaboration tools

The working frame of a business analyst utilizing business analyst tools and skills is not an easy job. The critical role of any Business Analyst is also effective in stakeholder management and collaboration. Every Business Analyst needs to use some best-of-breed tools to ensure effective collaboration for meeting business and project goals. Hence, for every change that the BA makes in requirements, the same must be seamlessly communicated to connected teams like development and project management.

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The top tools every Business Analyst must know

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1. Jira and Confluence

Jira and Confluence are compelling collaboration tools. Every Business Analyst must be familiar with the basics of Jira for effective project collaboration and requirements sharing. The documents will be stored in a centralized repository in Jira. All the business stakeholders can see the status of projects and communicate with diverse teams using tools like Jira and Confluence. 

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2. Trello

Trello is another effective project collaboration tool. It uses a Kanban-style approach for managing and prioritizing tasks. With Trello, a Business Analyst can easily track his tasks, project plans, and progress of key activities to be completed.

3. Rational Requisite Pro

The Rational Requisite Pro tool for Business Analysts is a must-have tool for every BA working on requirement gathering and elicitation. It has a very robust architecture that can easily manage requirement documents that are dynamically linked to a project database. It is very easy to use this tool for managing requirements. 

4. Balsamiq

Balsamiq is a leading cloud-based tool for designing wireframes. This is an excellent tool for Business Analysts working on New Product Design, brainstorming, and sketching new business ideas. This tool helps the Business Analyst to communicate his vision for the product to the relevant stakeholders. It is one of the leading Business Analyst tools for BA. 

5. Pencil

Pencil is a free to use and open-source tool for prototyping and creating easy mockups. Creating a prototype for the user is often crucial for business analysts to help customers understand the final product’s look and feel. Any inputs and changes based on customer feedback can be incorporated in the prototype to ensure the best final product for the customer. 

6. Microsoft Visio

Microsoft Visio is a leading tool for project management and business modeling. It can be used to create use case diagrams, project flowcharts, project schedules, process flow charts, and data models. 

7. Google Docs

Google Docs is a powerful document sharing and collaboration tool for Business Analysts. Business Analysts can share all types of files and documents with stakeholders using Google Docs. 

These are the best 7 of the leading top 10 business analysis tools present in the market. A Business Analyst needs to keep himself updated with the knowledge of the leading Business Analyst tools for BA. Various leading institutes offer the best courses for Business Analysts to amp their industry knowledge and achieve their career goals.

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Wrapping up

upGrad is one of the leading training institutes offering students a comprehensive course for Business Analysts. upGrad offers courses on business analytics with hands-on seminars, real-life industry projects, dedicated and continuous mentoring for their students.

Although the greatest business analyst tools and techniques described make business analysts’ jobs easier, they are not the only factor in success. You should develop fundamental business analysis abilities if you want to be an efficient and positive analyst, and signing up with a reputable educational platform like upGrad ensures you inherit the right business analyst tools and techniques to take over the industry with your abilities!

Besides learning the best Business Analyst tools for BA, students will also have hands-on experience from industry-sponsored Business Analytics Projects. upGrad promises to deliver high-quality knowledge related to top 10 business analysis tools and diverse other skills to prepare you for the competitive future.

Companies across both IT and e-commerce sectors pay excellent compensation to deserving candidates who can add value to their organization. Apart from the regular educational qualifications and work experience, having advanced Business Analysis certifications also helps in bagging jobs that offer high-level salaries.