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Companies can use the information collected by consumers to improve their products and services to meet the needs of customers. The right tool to gather and analyze this data is a crucial step in meeting business goals to improve engagement, increase sales, and more efficient operations.
To select a tool, first determine the type of data you want to incorporate and how you intend to do it. Some tools are geared toward traditional enterprise reporting while others are designed to assist you do more advanced mathematical analysis or monitor sensitive information such as healthcare data. It is also important to consider the ways that the analytics tools you’re looking at will integrate into your existing workflow systems and data architecture.
Some tools are made for advanced users and data scientists, whereas others let non-technical users do analysis using a point-and-click interface. Think about the capabilities and features of each tool, focusing on those related to data visualization. Some tools are designed to create visual charts while others require SQL or third-party software to model the data prior to it being able to be analysed.
Once you’ve narrowed down your options, pay attention to the cost and whether the platform is cloud-based or based on software licenses and subscription fees. Some tools are free, but others require a significant upfront investment to begin and ongoing maintenance costs. Be sure to weigh these costs with the potential return from the insights and efficiencies generated by the analytics tool.
