R and Python are very popular programming languages in terms of data analysis and financial modeling. Both tools are gaining much popularity among the financial analysts because of the flexibility and power they give. A study by today's fast-changing financial world requires adequate tools to make a valid output from the study of the analyst. The tools and its merits help an analyst get a head start ahead with the aid of Microsoft Excel, Tableau, Bloomberg Terminal, SAS, and programming languages R and Python. So, by adopting the instruments listed above, an efficient flow of work by smart decision-making will ascertain the fruitful accomplishment of an organization. These technologies enhance the quality of analysis and also impart the ability to analysts to communicate their results very effectively.