Businesses can make use of the data generated by consumers to enhance their products and services in order to satisfy the needs of their customers. Finding the right analytics tool to gather and analyze this data is a crucial aspect in achieving business goals for higher engagement, greater sales, and more efficient operations.
To select a tool, start by determining what types of data you want to integrate and the best way to accomplish it. Some tools are more geared toward traditional enterprise reporting, while others are designed to assist you perform more sophisticated mathematical analysis or track sensitive information like healthcare data. It is important to consider the way that the analytics tool you’re considering will integrate with your current 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 casual users to perform point and click analysis. Consider the capabilities and features of each tool, focusing on those that relate to data visualization. Some tools are designed to create visual charts, while others require SQL or third-party software to create models of the data before it can be analyzed.
Once you’ve narrowed your choices down, take a look at the cost and whether the software relies on subscription fees or software licenses. Certain tools are free while others require an upfront investment as well as ongoing maintenance costs. Be sure to compare these costs with the potential benefits from the insights and efficiencies that can be gained from using the analytics tool.