5 Industry-Preferred Programs that Give Accurate Analytical Results
To say the data industry is booming would still be an understatement, and since 2018 it has almost doubled in worth, to $140 billion, and is expected to top $229 billion by 2025. This growth is for good reason, as many experts believe that proper usage of data analytics can result in companies completing tasks like determining market success in a tenth of the time, and as the old adage goes: time is money.
As data science and business analytics continue to drive evolution in industries from healthcare to sports to travel and more, the amount of programs to conduct data analysis is also increasing at a very steady clip. There are many factors that should be weighed when determining what data software to use, and ease-of-use, cost, and accessibility are important to many, but for some industries, accuracy is the be-all and end-all, and this list is of five analytic programs touted for their accuracy.
This is a great choice for teams who know they need to up their data analysis but may not be particularly well-versed at programming. There is a free trial version that allows users to get their feet wet, and no programming skills are required to access the data analysis tools. Simply select the data sets you wish to analyze, and easy-to-read graphics are generated to provide statistical analysis and predictive measures that are just as easy to digest. If you decide to this data analysis program, there are many options to choose from as far as payment, each with different levels of offerings.
Most new members of the workforce are familiar with Minitab in some sense, as it’s used to create and analyze data by more than 4,000 institutes of higher education across the globe. According to their website, 90% of fortune 500 companies utilize the software in some form, as well. It is easily compatible with many other data analysis software, including Microsoft Excel. It’s also the most affordable option on this list, at $49 annually, after a free trial.
Another program touted for its ease-of-use, NCSS is recommended for teams who need to analyze large pools of data and have the results shared quickly and securely. Marketed as “statistical, graphics, and sample size software,” NCSS is great for marketing teams, and the basic package is quite affordable at just $239 per year. Many upgrades are available in small increments, price-wise.
One of the first data analysis software tools for home use is Microsoft Excel, the spreadsheet program that has been one of the flagship offerings from Microsoft since before the turn of the century. XL Stat was created to further increase the analysis capabilities of the data on a given Excel spreadsheet and is compatible with both PC and Mac setups. The price is competitive at $275 per year, and a free trial is available.
A name almost as prominent in 21st-century computing as Microsoft, IBM’s advanced analysis tool, SPSS is a visual treat and extremely easy to navigate and utilize. Though it does offer local options, most of the analysis tools are cloud-based allowing for easy remote access in a world trending more and more towards the digital office. IBM has long been touted as a front-runner in precision, and their data analysis tools are as accurate as any, especially with a little familiarity with how SPSS can be best utilized. It’s priced per user, so small teams don’t have to put up big dollars to use this dependable software.
New Year, New Software
Though all of these programs offer frequent updates and have stood the test of time, evolution in the data industry is faster than almost any other industry, driven primarily by money. With that, it’s necessary to revisit lists like this one and stay up to date on trends in the industry.