Consumers produce a vast amount of information about their preferences, experiences and activities that businesses can use to enhance their products and services to match customer demands. Finding the right analytics software to analyze and collect the data is an essential step in meeting business goals to improve engagement, increase sales, and more efficient operations.
Decide on which data types you want to integrate, and how you intend to accomplish this. Some tools are designed to provide traditional enterprise reporting, whereas others are made to help you conduct advanced mathematical analyses or track sensitive data, such as health data. You should also consider the way that the analytics tool you’re contemplating will work with your existing workflow and data architecture.
Certain tools provide an iterative experience for data scientists and advanced users, whereas others are primarily made to permit non-technical and people who are not experts in data to perform point-and click analysis. It is also important to take a close look at the options for data visualization and features provided by each tool. Some are built to support the creation of visual charts whereas others depend on SQL or other third-party tools to model your data prior to when you can examine it.
After you’ve narrowed 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 substantial upfront investment to get started and ongoing maintenance costs. Make sure you compare these costs with the potential return on investment from insights and efficiencies gained using an analytics tool.
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