Business analysts are a critical factor in the success of every business. Business analysis tools make it easier for professional analysts to perform their tasks effectively and improve business processes and services.
This article will walk you through the best business analyst tools. You’ll find the one perfect for your needs and preferences. You will learn how these software tools can help you in your project development and business decisions. These tools can help you become an influential business analyst and level up your competency in this industry.
The 10 Best Business Analyst Tools
- Adobe XD
- HubSpot CRM
- Jama Software
- Microsoft Dynamics
What Are Business Analyst Tools?
Business analyst tools are software applications for business project management. The role of a business analyst is to identify the customer’s requirements and create solutions to meet their needs. Business analysis tools make this possible through design visualizations and advanced analysis. With insights from these tools, business analysts can create compelling business ideas.
These tools are used in business process management to reduce repetitive tasks and increase the productivity of business operations. They automate the business process to avoid errors and improve the accuracy of the analysis. These tools help business analysts make a fact-based decision using a data-driven approach.
What Are the Main Types of Business Analyst Tools?
If you are looking for the right business analytic tool for you, read on as we give you some practical and standard tools for business analysis with incredible features and efficient functionalities.
Project management is the strategy used by an organization to make sure that the project development is on track. It involves monitoring every task and ensuring they align with the defined project plans. Project management helps an organization reach its goals. Without effective project management, the organization can suffer from scope creep, missing deadlines, and overbudgeting.
Examples of Project Management Tools
Requirement management is an analytic tool that includes planning, analyzing, tracking, communicating, and documenting project requirements. Requirement management tools help business analysts execute these tasks and ensure that everything is organized and well monitored. These tools establish a clear understanding of business requirements for all stakeholders.
Examples of Requirement Management Tools
- Jama Software
Customer Relationship Management (CRM) Tools
CRM are business analytics tools that help the organization improve and track business relationships. These tools allow business analysts to monitor the business’ interaction with customers and record their accounts, key activities, and transaction details. These tools provide an excellent way to assess customers’ behavior and get meaningful insights.
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Examples of Customer Relationship Management Tools
- HubSpot CRM
Wireframing tools are business analysis tools that visually represent system requirements, functions, and behavior. Business analysts also use these tools for software prototype creation. Wireframing tools bring clarity to the project structure and help achieve the intended layout of the system based on customer requirements.
Examples of Wireframing Tools
- Adobe XD
Enterprise Resource Planning (ERP) Tools
ERP is a must-have tool for business analysis. It is used to collect and manage data for business processes such as finance, supply chain operations, and manufacturing. ERP defines business workflow and gathers data from multiple sources to easily present and visualize them to different departments within the organization.
Examples of Enterprise Resource Planning Tools
- Microsoft Dynamics 365
Business Analyst Tools Cheat Sheet: A Tabular List of Business Analyst Tools
|Tool||Uses||Companies That Use It||Cost||Availability|
|Accompa||Requirement management||Samsung, Intel, Dell, Verizon, VMware||$199-$799/month||Commercial use|
|Adobe XD||Wireframing, UI and UX design||T-Mobile, Dell, LPL Financial, Brookings Institution||$10-$23/month||Commercial use, Personal use|
|Asana||Project management||Amazon, Google, Deloitte, Snap Inc, Business Insider, Avon, PayPal, Slack, Uber, Spotify||Free, $11-$25/month||Commercial use, Personal use|
|Figma||Wireframing, UI design||Bitpanda, Primer, Github, Microsoft, Uber, Rakuten, Zoom||Free, $12/month||Commercial use, Personal use|
|HubSpot CRM||CRM||Casio, Suzuki, Subaru, Monday.com||$45-$1,200/month||Commercial use, Personal use|
|Jama Software||Requirement management, Test management, Product development||Deloitte, Panasonic, Abbott, Texas Instruments||$115/month||Commercial use|
|Jira||Project management, Issue tracking||NASA, Hubspot, national Bank of Canada, CHG Healthcare||Free for less than 10 members, $75-$145/month||Commercial use, Personal use|
|Microsoft Dynamics 365||ERP, CRM||Mercedez Benz, Banco Sabadell, VITAS Healthcare, Miami HEAT||$65-$135/month||Commercial use, Personal use|
|Salesforce||CRM||Accenture, Adidas, Air Asia, American Red Cross, Amazon||$25-$300/ month||Commercial use, Personal use|
|Skubana||ERP, Inventory Management||3PL Central, Capsuline, Cotopaxi||$999/ month||Commercial use|
The Best Business Tools, Explained
- Type: Requirement Management Tool
- Companies That Use Adobe XD: Samsung, Intel, Dell, Verizon, VMware
- Adobe XD Cost and Availability: Standard Edition: $199 per month, Corporate Edition: $399 per month, Enterprise Edition: $799 per month
Accompa is a cloud-based requirement management tool used for efficiently tracking and managing business and user requirements. Customers and business organizations can interact through emails and web-based forms. This platform allows the user to monitor changes in the business requirements and identify requirement dependencies.
- Type: Wireframing Tools
- Companies That Use Adobe XD: T-Mobile, Dell, LPL Financial, Brookings Institution
- Adobe XD Cost and Availability: Personal use: $10 per month, Commercial use: $23 per month
Adobe XD, short for Adobe Experience Design, is a wireframing tool that enables users to design and layout an intuitive user interface. This versatile software creates prototypes and screen designs for software applications, websites, and mobile apps. Business analysts use this tool to ensure that the interface meets customer standards for the best experience with the software.
- Type: Project Management Tools
- Companies That Use Asana: Amazon, Google, Deloitte, Snap Inc., Business Insider, Avon, PayPal, Slack, Uber, Spotify
- Asana Cost and Availability: Basic: Free, Premium: $11 per month, Business: $25 per month
Asana is a popular tool used in task management and project organization. It has helpful features for visualizing the project progress and tracking team activity. Asana is also used to manage Agile projects and scrum processes. Project managers and analysts can also use Asana for scheduling and organizing events and meetings.
- Type: Wireframing Tools
- Companies That Use Figma: Bitpanda, Primer, Github, Microsoft, Uber, Rakuten, Zoom
- Figma Cost and Availability: Starter: Free, Professional: $12 per editor/month, Organization: $12 per editor/month
Figma is a user interface design application that features elements for wireframing software apps such as desktop applications, mobile apps, and websites. It can also assist in prototyping interface designs and layouts. Figma is a web-based application with additional cool features on mobile and desktop apps that allow users to interact with Figma prototypes.
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- Type: CRM Tools
- Companies That Use Hubspot: Casio, Suzuki, Subaru, Monday.com
- Hubspot Cost and Availability: Starter: $45 per month, Professional: $450 per month, Enterprise: $1,200 per month
Hubspot is could-based marketing, sales, and CRM platform that provides functionalities for managing all business activities with easier access. It offers tools for social media marketing, customer service, Search Engine Optimization (SEO), and lead generation essential in business management and customer satisfaction. Hubspot can be integrated with other platforms like NetSuite and Salesforce.
- Type: Requirement Management Tools
- Companies That Use Jama Software: Deloitte, Panasonic, Abbott, Texas Instruments
- Jama Software Cost and Availability: Commercial use: $115 per month
Jama Software is a web-based platform used primarily for requirements gathering. It offers test and risk management solutions that help businesses mitigate risks and increase development efficiency. It allows the organization conducts usability testing and virtual reviews to track user needs and make better business decisions.
- Type: Project Management Tools
- Companies That Use Jira: NASA, Hubspot, national Bank of Canada, CHG Healthcare
- Jira Cost and Availability: For a team with less than 10 members: Free, Standard: $75 per month, Premium: $145 per month, Enterprise: Varies
Jira is a project management software developed by Atlassian used in Agile project management and bug tracking. It features elements used in the project schedule, Agile software development, reporting, planning, and monitoring tasks. This tool also offers other functionalities such as scrum boards, roadmaps, Kanban boards, and Agile reporting.
Microsoft Dynamics 365
- Type: ERP Tools
- Companies That Use Microsoft Dynamics 365: Mercedez Benz, Banco Sabadell, VITAS Healthcare, Miami HEAT
- Microsoft Dynamics 365 Cost and Availability: Sales Professional: $65 per month, Sales Enterprise: $95 per month, Sales Premium: $135 per month
This tool combines ERP and CRM in one cloud-based platform. Microsoft Dynamics 365 provides sales insights, improves customer relationships, and features integration with Outlook and Microsoft PowerBI. Users can also create business process flows through its visual process designer.
- Type: CRM Tools
- Companies That Use Salesforce: Accenture, Adidas, Air Asia, American Red Cross, Amazon
- Salesforce Cost and Availability: Essential: $25 per month, Professional: $75 per month, Enterprise: $150 per month, Unlimited: $300 per month
Salesforce supports the customer relationship management platform Salesforce Customer 360. It is great for managing customer engagement and details. This cloud-based platform simplifies the interaction between the customers and the business organization. Salesforce, based in San Francisco, California, owns the Salesforce online platform.
- Type: ERP Tools
- Companies That Use Skubana: 3PL Central, Capsuline, Cotopaxi
- Skubana Cost and Availability: For commercial use that costs $999 per month
Skubana is an operations software that supports inventory management and business intelligence. This platform automates order management using the Orderbots that automatically purchase orders and execute inventory. Skubana helps business owners manage their product listings and notifies them when stocks are running low.
Why Business Analyst Tools Are Important
Business analyst tools are essential components in the overall business process as they help establish better business decisions. Using these efficient assessment tools, business analysts can prevent the waste of resources, time, and effort. Communication between customers and companies becomes much easier using these software applications.
Effective collaboration within the development team is also crucial during project development. Users can easily share information and meaningful insights with other stakeholders through business analysis tools. These also provide platforms that automate business analysis tasks to reduce mistakes and ensure operations productivity.
Business Analyst Tools FAQ
To become an efficient business analyst, you must learn the skills essential in business analytics. You can study popular business analyst techniques that most companies are looking for by enrolling in business analysis bootcamps and online courses. You can also start building business analytics projects to sharpen your skills and strengthen your experience.
PayScale reports that business analysts earn an average salary of $62,572
per year. An entry-level position can earn an average annual salary of $57,974. Obtaining a Master’s of Science in Business Analysis can increase your average salary to $72,000 a year.
Yes, free business analyst tools are available, such as the Aris Express and Bizagi Modeler. Other tools offer a free version of their software with limited features and access, such as Jira and Figma.
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Some of the business analyst skills that companies require are business intelligence, database management, statistical analysis, data mining, and data visualization skills. Some may also require skills in programming languages such as Python and R. You must also be adept at business analyst tools. Learning these skills can lead to a lucrative career with a high job growth outlook.
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