Today, all you hear about is data analytics and how it is changing the face of industries. This field that centralizes data statistics, business intelligence, and technology all under one frame has astounded many people by its positive scope.
It is a no-brainer that businesses should adopt this growing technology, or they will be left behind in the industry race. However, the question that stumbles the mind is: which company should get the responsibility of handling the data? You cannot hire anybody to skim through confidential data.
A terrifying visual, but we have you covered. We did our own data analysis on today’s top-rated companies and narrowed down the huge list to a few favorites. This article will cover all the basics and then jump to the big list. So, let’s get started.
What we cover
Why is there a need for data analytics?
Feel free to skip this section if you already know the basics. For beginners, stay vigilant. This could decide the fate of your business.
First things first, there is a key difference between data analytics and data analysis. The former is a general way to gather data, while the latter is a specialized method. While data analysis simply helps assess the data to gather reports, data analytics takes it a step further and helps drive insightful conclusions from the data.
The need for data analytics comes with the growth in this era. For example, with interactive platforms available to billions of people, there are trillions of datasets that need to be assessed. Hence, data analytics helps businesses determine patterns and visualize huge datasets from different angles. It guides businesses in connecting the dots, bridging the gaps, and making key decisions for the business.
How does it work?
According to the statistics, data analytics is only expected to grow in the coming years. By 2023, the market value is expected to reach $307.52 billion. By 2030, it can reach $745.15 billion, which is a booster for any economy.
This huge growth in the field is seen due to its varied applications in different industries, from tourism, security, and engineering & development to healthcare, education, Web optimization, and even transportation.
However, its most integral application has to be in healthcare by detecting abnormalities and predicting treatments. The market size for healthcare analytics is expected to be around $51.6 billion between the years 2022-2027. So, the market size for data analytics is huge. You have to make your pick.
Here is a more brief outline of how it can help a business;
- A large number of business decisions can be made at a small price. Many software solutions and data analytics company hires have reduced costs, aiding the financial budgeting of the business.
- By assessing large datasets, the probability of making relevant and better business decisions becomes higher.
- This field benefits the customers the most. It helps analyze their behavioral patterns and needs, aiming for a higher customer satisfaction rate.
Different types of data analytics
The field of data analytics is quite vague. To get a more defined look, here are a few of its types;
- Descriptive Analytics – It narrows down all the past metrics in a dataset and provides a valuable report by conducting data processing & analysis along with data visualization.
- Diagnostic Analytics – The reports generated through Descriptive Analytics help determine the problem’s crux. It can provide a report on the positive and negative improvements.
- Predictive Analytics – This type predicts the likelihood of a future event by identifying trends and patterns in a dataset. It utilizes certain machine-learning techniques to develop relationships in the data.
- Prescriptive Analytics – This type comes into focus when a business or an individual is unsure of what needs to be done next. Through various techniques, it provides data-based decisions.
How to choose the right data analytics company?
Before getting to the list of top-rated analytics companies, you need to consider a few factors. They will help you narrow down your search.
- Define your goals and requirements – What data analytics tools do you need? What discoveries do you want to make with these tools? What is your budget? Is your IT team capable of handling bugs and repairs?
- Check their expertise and experience- Look for their portfolio and find if there is any existing case study that is relevant to your goals. Are there any positive responses?
- Evaluate the tools and technology- Do they have the tools you need? Do they offer integrations and collaborations if you would need any? Will they be willing to offer customization for your specific business needs?
- Research your security requirements- You will need to outline your security needs on the contract to avoid any privacy breaches.
- Think about mobility in data- Another important thing is whether the company would help you access data anywhere and anytime. Integration from multiple sources of data is equally important.
What mistakes to avoid when choosing a data analytics company?
- Missing out on the track record – Having experience is not adequate. You need to see if the company has happy clients and successful projects.
- Incomplete research over prices – There are many companies offering exceptional services. Compare all the company’s services and their prices to find the best subscription for your budget.
- Poor research on your data analytics needs- If you do not align your business goals correctly, you might pay more for a generalized service. Instead, you could have paid less for the services you actually needed.
Best Data Analytics Companies
To simplify your job, we decided to grab the biggest sharks in the industry and put them all down here. You can explore hundreds of options or skim through this refined list of the best data analytics companies.
Best Data Analytics Companies – Comparison
|SG Analytics||Oracle||SAP||Salesforce||Vention||Mu Sigma Analytics||Accenture Analytics||Fractal Analytics||Tiger Analytics||Alteryx|
|Industries||BFSI, Healthcare, Technology, FinTech, EdTech, Media & Entertainment|
GovernmentHealthHigh TechnologyHospitalityIndustrial ManufacturingLife SciencesMedia and EntertainmentOil and GasProfessional Services
|Business Technology, Customer Management||Communications, Automotive, Media, Higher Education||Food, Transportation||Business Intelligence, Customer Outcomes||ChemicalsCommunications and MediaConsumer Goods and ServicesEnergyHealthHigh TechIndustrialInsuranceLife SciencesNatural ResourcesPublic ServiceRetail||Retail, Healthcare, Consumer Packaged Goods||Life Sciences, Manufacturing, Retail, Technology, Transportation||CPG, Retail|
|Core services||Technology Services, Market Research, Investment Banking, Investment Research, ESG Services||Cloud solution||SAP Enterprise Support, SAP Preferred Access, SAP Cloud Application Services||CRM Analytics||Predictive data analysis||muIDA – Interdependency Analysis, muDSC – Decision Supply ChainmuUniverse, muPDNA, muOBI – Outcomes, Behaviors, and Insights||Application Development, SAP, Software Development, Blockchain, Supply Chain||Asper.ai, Crux Intelligence||AI consultancy||Advanced automation tools|
|Pricing||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote||Get a quote|
|Clients||Celent||Sentinel, Mythics, Workforce Software||dNata Travel Management||Razorpay, Flame University, Secutech||Vegmo, Slice, Thomas Internationals||Puma, Stratonik, Standard Chartered Bank||Coca Cola, Bira 91||Aimia, Forester Research||LinkedIN, PayPal, Intel, Levi’s||Texas Rangers|
Best Data Analytics Companies – Let’s dive deeper
1. SG Analytics
Best Employer in the Region for 2016, 2017, and 2018.
- Key Services: Technology Services, Market Research, Investment Banking, Investment Research, ESG Services
- Price: On-Demand Price Plan
- Reviews & Ratings: 3.2/5
- Pros: Competent in data research, 16+ languages, Leading ESG service
- Cons: 3 industries only
Headquartered in India, the company is one of the biggest ESG services and data research providers. It has over 1000 employees, and its network is spread out in the U.S.A, U.K., Switzerland, Canada, and India. Since 2007, people have complimented its technical expertise in various departments.
The company has been recognized as a leading provider among data science providers in India by the AIMs 2022 Report. The diversity ratio is greater than 40% in their team, making it easier to connect with different audiences. For Media & Entertainment alone, they have conducted 300+ research studies.
Why You Should Consider: Consider SG Analytics for mid-large enterprises for market research.
Oldest Data Analyst Company.
- Key Features: Cloud applications, Cloud infrastructure, 22+ industries, Owns personal Data Analysis software
- Price: On-Estimate Costs
- Ratings: 4.3/5
- Pros: Wide number of integrations, secure transactions, customizable services
- Cons: Comparatively slow
Founded in 1977, it is one of the oldest companies to deal with data analytics. Customers have found the integration of external applications along with a wide variety of features to be a beneficial part of their experiences. The company also offers tutorials and guides to aid customers with technical issues.
The company has a strong employee strength, which encompasses 1,35,000. Apart from Data Analytics, they also offer IT and Cloud-based solutions. They use Machine Learning for their data analytics approach, which may help if your business requires such an objective.
Why You Should Consider: Oracle is one of the most reliable companies that can help enterprises with 10000+ employees making large revenues.
Provider of unlimited access to certain reports.
- Key Services: SAP Enterprise Support, SAP Preferred Access, SAP Cloud Application Services
- Price: On-Demand Price
- Reviews & Ratings: 4.4/5
- Pros: Wide coverage of products, 24/7 customer service
- Cons: Bugs
Customers found the software easy to use and allowed necessary integrations across various fields. Plus, it is responsive in exploring the technical issue at hand and versatile in its solutions.
It offers 24/7 support, a key indicator in determining a Data Analytics company. This works especially for those businesses that do not have a reliable IT setup.
Plus, if you seek versatility in data analytics tools, they offer a whole list, including IQ and Event Stream Processors.
SAP anticipates hidden risks for your business and helps you understand the customers better. This way, all the services are customer-friendly. This is the key to developing a reliable service for users.
Why You Should Consider: Data scientists looking for a trustworthy data analytics company for a large enterprise with considerable data.
AI+Data+CRM= More Sale and Happy Customers.
- Key Services: CRM Analytics, All types of data analytics- descriptive, diagnostic, predictive, and prescriptive, Upgrades three times a year, 16+ languages
- Price: $81.46-$238.96/month
- Reviews & Ratings: 4.2/5
- Pros: Robust, customization available, predictive behavioral patterns
- Cons: Tricky to use at first
Customers love the completeness of the package that this company offers. At a favorable rate, they can indulge in the services of actionable CRM. On top of that, it provides a user-friendly and easy-to-use interface for users.
This is not just a data analytics company but a CRM combined with data analytics. You can get reports, insights, and insightful decisions to help you swiftly make the right CRM actions. Without any extra pricey customization, you can get the two-in-one deal.
Why You Should Consider: An industry-leading software best for medium-large enterprises looking for a CRM and data analytics.
A solution for startups, medium, and large-sized businesses.
- Key Services: Predictive Data Analysis
- Price: On-Demand Price
- Reviews & Ratings: 4.9/5
- Pros: Data tools and databases available, attention to detail.
- Cons: Might be pricey.
The brand has over 20 years of experience, so most customers admired their fast delivery and attention to detail. Moreover, their problem-solving attitude helped many customers reach their objectives in time.
Why You Should Consider: If you are a startup, you can opt for Vention. They have various quotes that allow you to set up a proper approach for your business goals.
6. Mu Sigma Analytics
Decision Sciences Company.
- Key Services: muIDA – Interdependency Analysis, muDSC – Decision Supply ChainMuUniverse, muPDNA, muOBI – Outcomes, Behaviors, and Insights
- Price: On-Demand Price Plans
- Ratings: 4.8/5
- Pros: Centralized services of big data analytics, value to money, variety of services
- Cons: Poor management
Mu Sigma deals in a variety of industries, including Retail and Airline. With a unique approach, they are changing the face of data analytics by including human knowledge.
Many clients have started to follow this approach for their business objectives. They offer everything from exploring the problem to scaling with the tools.
They provide expert data scientists who can manipulate data analytics tools to make insightful decisions.
Why You Should Consider: If you are unsure of providing your data to AI tools and robots, then this is the company you should hire.
7. Accenture Analytics
Leading Data Analyst Company.
- Key Services: Application Development, SAP, Software Development, Blockchain, Supply Chain
- Price: Customized Pricing
- Ratings: 4.5/5
- Pros: Great customer service, complete tech solution.
- Cons: Implementation standards were low in some cases
The company offers a huge portfolio for a tech company. This is only the tip of the iceberg from Machine Learning & Artificial Intelligence to Data Analytics solutions.
The company also deals with cloud computing and app development, among many other IT solutions. Customers have found their knowledge of data analytics to be quite commendable. Moreover, they are dedicated to achieving the best outcome.
Why You Should Consider: If you are a business with a tech solution in mind, you can seek them out for diverse solutions.
8. Fractal Analytics
Hub for AI Innovation Center.
- Key Services: Asper.ai, Crux Intelligence, Flyfish.ai, 6+ Industries
- Price: On-Demand Price Quotes
- Ratings: 3.7/5
- Pros: Positive results, dedicated team
- Cons: Higher costs on licensing
The company mainly deals in data science and artificial intelligence. They are headquartered in the US and India but have a loyal customer base worldwide. Customers believe they work towards customer service just as much as they are dedicated to offering core services.
They have proper models that can generate predictive behavior patterns and allow you to avoid mistakes using self-correcting feedback.
Why You Should Consider: This company could be the right decision if you are looking for predictive analysis, especially with your customers.
9. Tiger Analytics
Leading Advanced Analytics Company.
- Key Services: AI consulting, advanced analytics tools, Risk analytics, 7+ Industries
- Price: On-Demand Price Only
- Ratings: 4.8/5
- Pros: Expertise about the domain, swift services, good customer services.
- Cons: High cost.
The company has gained a decent positive outlook for its starting projects. Customers admire the services they provide to them, along with their responsiveness to individual needs.
Their core service is risk analytics, but they also offer marketing, customer, and operational analytics.
Why You Should Consider: If you want your organization to manage the risks and streamline the normal services, you can opt for this company.
Ranked #1 for Predictive Analytics tool by Peerspot.
- Key Services: Automated Analytics, Free or Code-friendly, Predictive Analytics.
- Price: Starts at $4950.
- Reviews & Ratings: 4.2/5
- Pros: Free trial available, work for people with low or no-tech bg, versatile user cases, easy to use.
- Cons: Scalability needs improvement.
Customers have praised their data analytics technology on multiple occasions. This is why they have been able to bag big clients. From baseball teams to premium brands, they have all found the company’s work worth their time and money.
Why You Should Consider: If you do not have much IT knowledge, this is the company you can choose. They will streamline the processes for you and make it easier to understand from scratch.
What tools do data analytics companies use?
Some popular tools are Microsoft Excel, Tableau, RapidMiner, KNIME, Power BI, Apache Spark, QlikView, Talend, R, Python, Redash, Metabase, and many others.
Can a data analytics company help my business grow?
Yes, organizations have the expertise and knowledge to scale their business with the right data analytics tool. However, it does help if you do pre-research and gather an idea of what your business needs from the company.
What is the difference between a data analytics company and a data consulting firm?
Data analytics companies help gather valuable insights and patterns based on the data. As for data consulting firms, they provide suggestions and advice on data analytics.