Most of us will agree to the fact that a formal study of analytics starts with MS Excel. It is a tool that most of us who work in an office environment, spend our considerable time on. Those who have already devoted a number of years with it, would probably agree that even the most intelligent and smartest among them, did not have an understanding of all the features of MS Excel. Neverthless, if we consider from a business analytics perspective, excel is merely like a middle segment economy car over a formula one racetrack.
Microsoft Power BI: Talking of Business Analytics, as a first step above excel, it is highly recommended to get an understanding of Microsoft Power BI (Microsoft Business Intelligence Service). It gives you much more capabilities of the visualizations and inferences which you can never achieve with MS Excel. You can use a collection of different visualizations, which are all interconnected with each other, automatically. Moreover, it is AI powered so you need not worry about how the interpretations can be achieved from scratch. You can get everything which is mostly required in Business Intelligence, out of it, as efficiently and accurately as possible, which you cannot achieve with your statistical skills (unless and until you devote one to two weeks for a single sheet, depending upon your capabilities).
The Language R For those who are skilled in programming to a certain extent, R is one of the most useful options, as it is one of the high level programming languages purposefully built for statistics. R is best for those who have a little background in programming.
Ateryx One another Giant in the segment of business analytics tools is Alteryx, a powerful and efficient tool for building stylish and impressive visualization, again powered with Artificial Intelligence techniques. Alteryx is most recommended for those who just want an intelligent interface for creating designs using drag and drop.
An important point which is increasingly getting important in this context is that there are several third party tools which are the market leaders in their own jargon. One important tool of such kind is “lucidchart”, which is a chart making tool, with the features which cannot be accomplished using either excel or powerpoint. Such tools are increasingly being used in professional presentations in the form of powerpoint or dashboards.
However, one way or the other, when you develop some hands-on skills over these tools, then you will develop an understanding of the theme and aesthetics which corresponds to a professional and elegant presentation. One can start skilling over any one of the tools required of BI for a fresh start, but skilling oneself with Ms Excel basics is a must which is a fundamental prerequisite for building skills matching BI requirements today.
Dr. Sachin Sharma
(Ph.D. M.Tech)
Prof. (Dr.) Sachin Sharma is an Engineering Graduate, with honors, of the year 2004. He is an M.Tech. and Ph.D., having vast experience in Computer Engineering, particularly in the field of Artificial Intelligence and Machine learning.