5 Data Analytics Tools to watch out for 2016

5 Data Analytics Tools to watch for

INTRODUCTION:

Data Analytics is one of biggest growing domain for today. Everyone try to get into this domain by updating their skills. All businesses are looking for new insights by using their own historical values, trying to improve their service or product or customer satisfaction. Businesses always look for improvement and more customer base. They need to understand their customer needs and requirement and at the same time have to estimate their futuristic demand and change in customer needs. And to do that there is the need of data analytics tool which helps them to make their work easy in meeting customer requirement and forecasting their needs. These days many analytics tools are available in the market. Here in the below article we are reviewing tools such as SAS, R, Excel, Python and Tableau in context to Indian Market on the basis of the following points:

  1. Ease of Learning
  2. Number of jobs available
  3. Amount of money involved through business
  4. Recent development
  5. Handling Big Data
  1. Ease of Learning

How easy for anyone to learn these analytical tools? Time to learn any new IT skill varies from person to person. Some people may be feeling comfortable to write program and some do not. Some are good in logical and analytical thinking and some are average. So it is quite difficult to judge these tools. But if we restrict ourselves to people who have average knowledge of computer skills and programing with average logical and analytical skill, we can rate these tools on the scale of 1 to 5 where 1 is very difficult and 5 is very easy.

Tools                          Ranking

SAS                               4

R                                    2

Excel                              3.5

Python                           2

Tableau                          3

  1. Number of jobs available

We have collected information from Naukri.com related to number of openings present on these analytics tools. And these data are collected in Jan 2016 with at most accuracy and are unbiased. Here are our ratings on the scale of 1 to 5 where 1 indicates least openings and 5 indicates most openings.

No. of Jobs in Tools                                                            Ranking

18976 SAS Jobs on Naukri.com                                             4.5

17446 R Jobs on Naukri.com                                                  4

16286 Data Analyst Jobs on Naukri.com using excel         3.5

5803 Python Jobs on Naukri.com                                           2

740 Tableau Jobs on Naukri.com                                            1

  1. Contribution in Business Turnover

Business analytics software market in India is forecasted to grow at 9.6 per cent year-on-year through 2019, reaching USD 583 million, as compared to 6.8 per cent across Asia-Pacific region, a report said today  (source : http://articles.economictimes.indiatimes.com/2015-07-31/news/65074512_1_analytics-data-scientists-risk-management)

We are taking Business Turnover into consideration because we want to know how much business these data analytics are making. From this information we can indirect interpret growth of these tools in monetary terms and their number of users growth. More revenue means more users and more project they are handling.

SAS has achieved a business turnover of about 3.09 billion dollar as per 2014 report. R is free software, so we cannot get any business turnover for it. Excel is a part of Microsoft office package, so it very difficult to calculate business turnover only for excel. Python is again a freeware. Tableau – TABLEAU revenue as per 2013 is 232.44 million dollar

But if we have to rate these tools in contribution of total revenue, then on the scale of 1 to 5, where 1 id for least and 5 for highest:

Tools                         Ranking

SAS                               5

R                                    3

Excel                             3

Python                          2

Tableau                         1

  1. Recent developments

We have tried to analyze recent development of these analytics tools, so that we can figure out which software tool is more prominent and update itself with change in challenges over a period of time. Here is update regarding latest version available for all these software.

Latest version available for Tools                              Ranking

Latest version of SAS is 9.4.                                                   4

Latest version of R is (3.2.3)                                                  3

Latest Version of Microsoft Excel is 2016 version             4

Latest version of TABLEAU is 9.2                                         3

Latest version of Python is 3.5.1                                             2

  1. Handling Big Data capability

In terms of big data handling capability, SAS can handle any amount of data and process it for any statistical test. R can also work with big data but you need to keep higher RAM size. Excel can keep only around 1 million rows in one worksheet.

Tableau Desktop and Tableau Server can handle any limit of data depending upon RAM size, disk space, and type of database used. It does not have any enforced row or column limits for the amount of data. But by increasing volume of data their performance gets affected.

Python can also be used extensively in the field of big data. There are couple of packages that can be useful while working with big data using python. These packages are

  • NumPy – The Fundamental package for scientific computing in Python
  • SciPy – Mathematics, Scientific and Engineering package

If we rate these data analytics tools on the scale of 1 to 5 where 1 is least and 5 is higher:

Tools                          Ranking

SAS                               5

R                                    4

Python                          4

Tableau                         3

Excel                              1

 

Data Analytics Tools Ease of learning Number of jobs available

 

Contribution in Business Turnover

 

Recent developments Handling Big Data capability
SAS 4 4.5 5 4 5
R 2 4 3 3 4
Python 2 2 2 2 4
Excel 3.5 3.5 3 4 3
Tableau 3 1 1 3 1

Scale information – rating is done on scale of 1 to 5, where 1 is for least and 5 is for high.

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About the Author

Alok Ranjan
Alok is an Analytics enthusiast. He is an MBA in Finance and B.E in Computer Science. He has years of experience in Analytics and is also Co-founder, COO, Nikhil Analytics. He has prior worked with companies like SLK Soft, Fifth-Third Bank, Bank of Maharashtra etc.

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