Selecting the appropriate analytical tool depends on various factors such as the nature of the business, the specific problem at hand, and the available resources. Here are some questions to consider:
What is the primary objective? Understanding whether the focus is on market, financial, or operational analysis can narrow down the choices. What is the complexity of the problem? Some tools are better suited for simple problems, while others are designed for more complex issues. What resources are available? Consider the availability of data, expertise, and time when choosing a tool.