Consumers produce a vast amount of information about their preferences, experiences and other activities that businesses can use to optimize their products and services to meet the demands of their customers. Choosing the right analytics tool to capture and analyze this data is a crucial step to achieving the business objectives for increased engagement, higher sales, and more efficient operations.
When choosing a tool, begin by determining the types of data you’d like to integrate and how you plan to implement it. Some tools are geared toward traditional enterprise reporting while others are designed to assist you perform more sophisticated mathematical analysis or track sensitive information like healthcare data. You should also think about how the analytics tool you’re looking at will integrate with your existing workflow and data structure.
Some tools provide an iterative experience for data scientists and sophisticated users, whereas others are specifically designed to allow non-technical or novice users to perform point-and-click analysis. Consider the capabilities and features of each tool, focusing on those that relate to data visualization. Some are designed to facilitate the creation of visual charts while others depend on SQL or other tools from third parties to model your data before you can analyze it.
After narrowing your options down, take a look at the cost and also whether the platform relies on subscription fees or software licenses. Some tools are free, while others read review require an upfront investment as well as regular maintenance charges. Be sure to weigh these costs with the potential benefit from the insight and efficiencies generated by the analytics tool.