lutz logo
lutz logo
  • Services
  • News & Insights
  • About
  • Client Portal
Search
  • Services
  • Accounting
  • Advisory
  • Financial
  • M&A
  • Talent
  • Tech
  • Accounting Services
Services
  • Audit & Assurance
  • Client Advisory Services
  • Outsourced Accounting
  • Tax
  • Business Valuation
  • Litigation Support & Forensic
View All
Industries
  • Agribusiness
  • Construction
  • Family Office
  • Healthcare
  • Manufacturing & Distribution
  • Nonprofit
View All
News & Insights
Financial Access Checklist
Guide
Financial Access Checklist

Share this information with your spouse to assure you each have access to manage important financial tasks independently.

Read More
  • Advisory Services
Services
  • Accounting
  • Financial
  • M&A
  • Talent
  • Tech
View All
Resources
The Art of Budgeting
Recording
The Art of Budgeting + Smart Saving Strategies
Learn how to get your finances under control and increase your savings! Hear real-life examples and best practices to secure a successful future.
Watch Now
Business Insights
Comparing Business Valuation Methods
Blog
Comparing Business Valuation Methods: Which is Right for You?
Valuation experts rely on three primary approaches to determine the value of a business: income approach, asset approach, and market approach.
Read More
  • Financial Services
Services
  • Financial Planning
  • Investment Advisory
  • Retirement Plan Services
  • Pooled Employer 401(k) Plan
View All
Resources
  • Lutz Financial Blog
  • Our Team
  • Client Portal
  • Charles Schwab Login
  • Send Files Securely
Contact Us
NEWS & INSIGHTS
Website Featured Content Images
Market Commentary
Financial Market Updates

Read our latest financial market updates and sign up to receive them straight to your inbox.

Read More
  • M&A Services
Services
  • Sell-Side Representation
  • Transaction Advisory
  • Exit Planning
  • Business Valuation
View All
Resources
Selling a C Corporation
Blog
Factors to Consider When Selling a C Corporation

Understand the tax issues affecting both buyers and sellers involved in C corporation merger and acquisition transactions

Read More
Business Insights
Post-Acquisition Checklist
Guide
Post-Acquisition Checklist for a Seamless Transition
To help you navigate this critical period, we've compiled a comprehensive checklist covering key areas that demand attention after the deal closes. 
Read More
  • Talent Services
Services
  • Search & Staffing
  • Outsourced HR
  • HR Consulting
View All
Candidate Resources
  • Job Seeker Process
  • Current Opportunities
  • Lutz Internships
Contact Us
News & Insights
Overcoming Bias in Recruitment
Blog
Unconscious Bias in Recruitment: How to Overcome It
Learn how to take the bias out of recruitment and build a diverse, talented workforce with these tips.
Read More
  • Tech Services
Services
  • Outsourced IT
  • Data Analytics
  • Technology Strategy
  • Software Consulting
View All
Resources
When to outsource your IT
Blog
How to Know When It's Time to Partner with an IT Pro

One day your technology seems manageable, and the next you're wondering if you need more support. Here are the clear signs it's time to outsource your IT.

Read More
Business Insights
Untitled design (1)-Mar-08-2024-08-50-35-9527-PM
Video
Pella Client Testimonial
"I've used them for valuation work, stock transfers, hosting all of my technology, and now data analytics. I'd say they lead the pack in terms of anticipating what I'm going to need before I even know I need it."
View Now
Business Insights
BLOG
Explore Topics

Get the latest news and insights on relevant topics that matter most to you.

View All
Webinars & Events
Events
Register Today

Register for an upcoming event or access our library of on-demand recordings.

View All
Market Updates
COMMENTARY
Stay Informed

Catch up on market moves with our weekly update, featuring in-depth insights and analysis.

View All
Resources
EBOOKS & GUIDES
Download Now

Take a deep dive into challenging business topics with these free educational resources. 

View All
  • News & Insights
  • Business Insights
  • Webinars & Events
  • Market Updates
  • Resources
Business Insights
BLOG
Explore Topics

Get the latest news and insights on relevant topics that matter most to you.

View All
  • About
About

Lutz is a business solutions firm for people seeking a partner to help energize and heighten economic and organizational success.

Our Company
Our Team
Offices
Careers
Internships
Contact Us
  • Contact
Client Portal

Log in to your relevant client portal to access your account, upload documents, or make a payment.

Make a Payment
Accounting Client Portal
Financial Client Portal
Charles Schwab Login
Send Files Securely
Contact Us
  • Data Analytics

4 Data Analytics Tools Your Company Should Be Using

Tony DeSantis, Data Analytics Shareholder
February 18, 2021
4 Data Analytics Tools Your Company Should Be Using

If businesses wonder where they can obtain more information about customer insights, leaks in productivity and efficiencies, and how to increase their revenue, they need to look no further than the data they already collect each day. While many organizations understand that the data they collect contains vital information, some may be unsure of the simple tools they can use to analyze it. This article reviews four tools for businesses that want to incorporate data analytics into their overall business strategy.

 

Microsoft Excel 

For smaller businesses, there is no better place to get started with data analytics than the Excel spreadsheets you likely use every day. While Excel may seem like a less than momentous choice, it is familiarity and reliability are precisely the reasons why businesses should not overlook this tool. Many businesses already use Excel spreadsheets or at least have the package available, which means they will not have to invest money into another software product. In addition, the learning curve for Excel is minimal, so businesses can get up and running very quickly.

Microsoft has also made some enhancements to Excel over the years, which can help businesses construct a variety of analytics ranging from basic models to more complex forecasting. Two such enhancements include their Power Query feature and their Analysis ToolPak.

The biggest drawback of using Microsoft Excel for data analytics projects is its inability to scale; both in volume of data and the ability to connect multiple data sources. As businesses grow, they continue to collect data, requiring a robust, easily adaptable tool that can handle their data analytics projects' increased size and complexity.

 

Data Visualization Tools

Data visualization tools are available for both smaller and larger organizations, with some visualization tools either already part of a larger software package or available as an independent application such as Microsoft's Power BI or Tableau. Regardless, visualization tools are helpful in analyzing data through their ability to connect large volumes of disparate information and present it in useful formats such as a chart or a dashboard. These visual formats allow users to see both trends and patterns, as well as data anomalies. 

The visualization tools today will also allow users to explore their data; allowing users to slice and dice data on the fly. As a result, users can ask questions of the data, identify answers, and highlight anomalies/areas that may need further investigation.

 

Robotic Process Automation

Robotic process automation (RPA) is an automated technology consisting of software bots or "digital workers" using artificial intelligence. While smaller businesses may have assumed these types of tools are out of their reach, that is not necessarily the case. There are a number of no or low code options available, making these types of tools available to organizations both large and small.

RPAs are capable of performing a multitude of functions, including moving data from legacy applications to a data store or repository, cleaning and standardizing data, saving file attachments to emails, and automatically combining files into a specified folder. By automating the process of aggregating data, RPA can free up resources so users can focus on performing analysis or reviewing analytics output.

 

Text Analytics Tools

Last but not least are text analytics tools. These tools are invaluable for a multitude of tasks. For companies who have large amounts of unstructured data such as emails, Word documents, call logs, service requests, or customer reviews, text analytics tools can help in the analysis process of these types of information.

Text analytics tools read and process text by way of Natural Language Processing (NLP). They can help determine whether a customer is happy or dissatisfied by identifying high-frequency phrases or words. These tools are also often found in chatbots, utilizing RPA processes, and they can also create written text from analysis of data through Natural Language Generation (NLG).

 

Selecting the Right Tool

Each company must determine what its particular goals are when it comes to developing a sound analytics strategy. The tools and techniques they employ will depend upon what insights they hope to discover within their data. Depending upon their strategy, organizations may chart a course of gradual expansion of data analytics processes or decide to take a more aggressive approach and employ a variety of tools and techniques to help them reach their goals. If you would like to learn more about leveraging the power of analytical tools to strengthen and grow your business, please contact us.

  • Maximizer, Deliberative, Consistency, Adaptability, Relator

Tony DeSantis

Data Analytics Shareholder

Tony DeSantis, Data Analytics Shareholder, began his career in 1999. With over two decades of experience in data analytics and forensics, he has honed his skills in interpreting complex data sets and designing impactful visual reports. 

Leading Lutz's Data Analytics offering, Tony specializes in data management and the application of artificial intelligence to simplify business processes and create solutions that directly impact their bottom line. He values the firm's unique blend of technical skills and business expertise, which enables them to provide well-rounded solutions to their clients.

 

At Lutz, Tony is passionate about mentoring and developing emerging talent within the firm. Additionally, he has been actively involved in various policy committees, contributing his expertise to shaping the firm's strategic direction. As the leader of the data analytics team, he consistently strives to make the complex simple for clients, helping them uncover the stories hidden in their information.

 

Tony lives in Omaha, NE, with his wife and four children. Outside the office, you can find him attending and coaching his kids' sporting events and other activities.

402.496.8800

tdesantis@lutz.us

Connect on LinkedIn

Recent News & Insights

Recent News
Lutz Announces Redemption of Ron Nebbia’s Shares
Lutz, a Nebraska-based business solutions firm, announces the redemption of ownership held by ...
Read More
Market Commentary
2025 Has Been a Boring Year + 5.14.25
2025 Has Been a Boring Year Imagine you went to sleep on New Year’s Eve and just woke up ...
Read More
Job Seeker
5 Ways to Maximize Your Chances of Employment
Let’s face it, job searching can be a rollercoaster. One moment you're motivated, the next ...
Read More
Guide
Finding a Lifelong Career
You’ll spend over 90,000 hours of your life at work. That’s more time than you’ll spend with ...
Read More
module-bg-desktop module-bg-mobile

Let’s get you where you want to go.

We work to simplify complexities, help make critical business decisions, and confidently focus on the things that are truly important to you. We embrace your business as our own to spark the right solutions and help you thrive.
Contact Us
Lutz-Logo-white
  • Services
    • Accounting
    • Consulting
    • Financial
    • M&A
    • Talent
    • Tech
  • About
    • Our Company
    • Our Team
    • Offices
    • Careers
    • Internships
    • Current Opportunities
  • Client Portal
    • Make a Payment
    • Accounting Client Portal
    • Financial Client Portal
    • Send Files Securely
    Submit RFP
TOLL-FREE: 866.577.0780 | © Lutz & company, PC 2025 | Privacy Policy
Follow us on Facebook Follow us on LinkedIn Twitter - X Logo Follow us on Instagram Follow us on Facebook