Businesses can utilize the data collected by consumers to enhance their products and services in order to meet customer needs. Finding the right analytics tool to collect and analyze the data is an essential step towards achieving business goals for increased engagement, higher sales, and more efficient operations.
To select a tool first determine the type of data you’d like to integrate and how you plan to implement it. Some tools are more geared towards traditional enterprise reporting while others are designed to help you conduct more sophisticated mathematical analysis or to track sensitive data like healthcare information. Also, you should consider the ways that the analytics tools you’re looking at will fit into your current workflow systems and data architecture.
Some tools are made for advanced users and data scientists, whereas others let non-technical users conduct analysis using a simple point-and-click interface. It is also important to take a close look at the tools for data visualization and the features that each tool offers. Some tools are designed to create visual charts while others require SQL or third-party tools in order to create models of the data before it can be analyzed.
Once you’ve narrowed down your options, be aware of the cost and whether the platform is cloud-based or based on software licenses and subscription fees. Some tools are completely free, while others require a significant initial investment and ongoing maintenance costs. Make sure you compare these costs to the potential return from the insights and efficiencies that can be gained from using the analytics tool.
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