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10 Best AI Analytics Tools for Data-Driven Decision Making

Artificial Intelligence
Aug 6, 2024
10 Best AI Analytics Tools for Data-Driven Decision Making

From things like solving maths homework to predicting chronic diseases based on lab data, it’s safe to say that AI found a place in every aspect of our lives since the launch of ChatGPT. And while you can trust AI to solve some algebra problems, would you trust it with your business data?

Today, we present the very best AI analytics tools that your team can use, whether you have in-house data scientists or not. These tools simplify data analysis, cleaning, visualization and making meaningful conclusions about your data.

Luzmo

When the data is already there, it can be difficult to make sense of it if you’re not a data scientist. Staring at complex datasets, long rows and columns of data won’t help with forecasting sales for the next quarter.

This is where Luzmo comes in. This data analytics tool uses AI and machine learning to help you create stunning dashboards so you can easily interpret what the data is telling you. 

Luzmo’s AI chart generator works in a pretty simple way.

  1. Connect your data through a user-friendly interface
  2. Type a query in natural language and ask Luzmo what you want to find out
  3. Luzmo’s AI-powered chart generator creates a chart that answers your specific question

This not only helps you automate data visualization but also lowers the barrier to entry for data analytics. You no longer need a degree in data science to be able to do business intelligence operations from various data sources.

If you’re building customer-facing dashboards, Luzmo offers a second tool called Instachart for quick prototyping. It lets you upload a sketch, a screenshot or a description of a chart that you need to make functional and beautiful. One click and Luzmo uses generative AI to turn a sketch into a chart you can share with your engineering team, or embed straight away in your software app.

Luzmo is built for embedded analytics, which means that you get all of these features embedded in your own software. Thanks to our developer-friendly API and a vast number of data sources, adding embedded dashboards to your products takes hours instead of days or weeks.

Let your end-users do data exploration on their own terms. Thanks to AI models and natural language processing, you can add more value to your product and let your customers get actionable insights from the data in your app, as simple as asking a question in plain English.

Book a free demo with our team to learn more!

Microsoft Power BI

If you’re already in the Microsoft ecosystem and possibly a Power BI user, you should be aware of their AI offerings. This tool can do just about anything in terms of advanced analytics and visualizations. With AI, you can do some of the following with PBI:

  • Use Azure Cognitive Services to analyze large amounts of text
  • Use AutoML (automated machine learning) to deploy and create machine learning models in Power BI without ML knowledge
  • Predictive analytics: use natural language processing (NLP) to ask PBI to predict future outcomes based on historical data
  • Use anomaly detection to find outliers in large datasets without data analytics knowledge

Of course, getting Power BI just for these machine learning algorithms and features may not make a lot of sense. However, if you’re already looking for a data analytics tool (with an enterprise focus), you should be aware of the many use cases it solves with AI.

Pricing: starts at $10 per month

Tableau

If you’re on Team Salesforce rather than Microsoft, Tableau recently launched a series of AI tools and features that you’ll find useful for data analytics.

For example, you can:

  • Ask data: use natural language to ask questions about datasets connected to Tableau
  • Explain data: identify and explain patterns in datasets
  • Predictive analytics: forecast future movements based on the data provided to Tableau
  • Smart recommendations: get recommended visualizations based on the type of data you’re working with and the end goal of your data visualizations
  • Analytics extensions: data integration with Python and R allows end users to apply statistical models to data in Tableau

Pricing: starts at $35/user/month

KNIME

KNIME is an open source tool for data analysis. Thanks to its drag-and-drop functionality, it’s suitable for professionals in data analytics, but also for complete beginners who want to use AI to analyze data.

The platform is suitable for data analytics across different industries and it can find place in an finance business just as easily as it would in a marketing team. Data experts can use it to access all popular AI/LLM models through the KNIME ecosystem, then write scripts in their chosen programming language (e.g. Python) and then share the analysis with their team.

Pricing: starts at 99EUR/month

Polymer

If data preparation is a major concern, Polymer can help with that. This AI-powered business analytics tool supports a variety of data sources and lets you connect them all in one place. Polymer then structures and prepares it for analysis and visualization, ensuring proper data quality.

You won’t need a team of data analysts to prepare data for operations such as predictive analytics. After you streamline the data normalization process, you can visualize the data too.

Pricing: starts at $25 per month.

Coefficient

This cloud-based AI tool is ideal for those that want to take Excel and Google Sheets to the next level. Simply download Coefficient from the Google Workspace Marketplace and it goes straight to your Chrome browser. You can now harness the power of ChatGPT and AI-powered analytics directly in Google Sheets.

Here are a few things that you can do with this plugin:

  • Return answers to prompts in a cell
  • Prompt GPT to return answers in individual cells (as a list)
  • Classify text according to a set of categories and labels
  • Convert input text into a specified format

While it may not be as advanced as predictive modeling, it can help you save time on spreadsheets and optimize your workflows. What’s even better is that it can help you turn unstructured data into material that is ready for further analysis and visualization.

Pricing: free for 3 data sources, paid plans start at $49 monthly

Brand24

Brand24 is a media monitoring tool that captures when someone mentions your brand online, on social media or on various websites, forums, and platforms. But there are many other tools that do the same thing. What makes Brand24 unique is the AI algorithms behind it.

For each mention that comes in, Brand24 uses AI data analysis. With sentiment analysis, it determines if the mention is positive, negative or neutral and assigns it a score. It also analyzes the frequency of mentions at the same time. This way, if a sudden rush of negative mentions comes in at once, the app flags it and sends a warning about a potential crisis.

It also analyzes the sources where the mentions come from, telling you where to target your efforts for the best social media engagement.

Pricing: starts at $119 per month.

Medallia

Medallia (previously known as MonkeyLearn) is a text analytics tool that uses natural language understanding and AI. It is useful for any business that communicates with customers through text or transcribes text from customer interactions.

For example, you can upload customer emails or live chat messages and have Medallia identify trends, common pain points, opportunities for improvement, key people, and more.

You can use it to set alerts for key opportunities, such as prioritizing customer support tickets based on the contents (and the context) of a message. Naturally, it can also do sentiment analysis and pick up how the customer is feeling when they interact with you.

Pricing: not available publicly, you have to request a demo.

Julius AI

If you want data analytics and visualizations but can’t justify the time and cost investments of something like Tableau or Power BI, this just might do the job. Julius is known for its ease of use and wide variety of data sources.

Connect spreadsheets, Postgres databases or Google Sheets, and ask Julius AI to analyze the data. It has a chat interface that allows you to ask questions about your data and get accurate answers or create statistical AI models.

Pricing: not available publicly, but research shows that it starts at around $20 per month

Akkio

Akkio is a data analytics tool built for agencies that want to wow their clients with the use of AI. It works threefold.

First, it helps agencies pitch clients by showcasing them how the agency uses AI to spot wasted ad spend, identify top-performing ads, and optimize ROAS.

Second, you can use it to predict future outcomes based on historical data provided by the client. A capable agency can then use Akkio to sell its services and upsell existing clients.

Last but not least. Akkio helps optimize existing campaigns by taking a detailed look at all the metrics.

Pricing: starts at $49 per month.

Wrapping up

Artificial intelligence can reduce the number of repetitive tasks you do every day, not just for your data analytics team, but also for your entire organization. These powerful AI tools can be used by anyone, not just people with previous knowledge of data analysis tools. 

While it’s still not possible to rely entirely on artificial intelligence and machine learning for analytics, you can consider these tools as an AI assistant that can lead you from data to an informed decision more quickly.

At Luzmo, we can help you do just that for your end users. Let your users go from large volumes of data to visualized metrics and beautiful dashboards.

Grab a free demo with our team today!

Mile Zivkovic

Mile Zivkovic

Senior Content Writer

Mile Zivkovic is a content marketer specializing in SaaS. Since 2016, he’s worked on content strategy, creation and promotion for software vendors in verticals such as BI, project management, time tracking, HR and many others.

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