Product and data teams come to a road that does not lead to another destination at a certain point in time. They try to make Google Analytics work, build their own dashboard, or maybe invest in a product analytics platform. But don’t we all wish Google Analytics was enough? Although it is free, it is also limited and stagnant at times. The user experience is confusing and there is an outdated paradigm for collecting data. Google Analytics relies on page visit activity. What is needed for product and data teams is click-based activity. Investing in product analytics tools can help your business soar. In this blog, we will take a look at product analytics, tools, and the need for product analytics tools.
Why Do You Need a Product Analytics Tool?
Product analytics is carried out using tools. Such tools are reliable and give objective feedback about digital products. When customers are satisfied, they turn into a loyal customer base for brands. This is what product analytics tools give insights into. Product analytics and relevant tools are used for the following.
Product Engagement – This gives insights into how often consumers use a specific feature of the product and for how long.
User Behaviour – These tools track and collect data on user behaviour.
Product Performance – This part of product analytics provides insights into what features of a product are attracting more users.
Comparative Analysis – Product analytics tools also provide dashboards and analytics reports in a visual format. This makes data analysis easier.
Benefits of Product Analytics Tools
Product analytics tools are not just an investment for the success of a brand. They are worth much more. Here are some benefits of products analytics and relevant tools.
- Provide insights into how your product is performing.
- Also, tell you how frequently customers visited and what features they used.
- Tools offer comparable data and create a base for SWOT analysis of product features.
- They offer segmented analysis on various parameters.
- They also identify the pain points of customers.
Top and Trending Product Analytics Tools
This analytical marketing tool has improved its functionality and user experience since the time it was launched. The best part about Google Analytics as an analytical marketing tool is that one can use the basic version initially without paying and upgrade it later.
Amplitude analytics is an analytical marketing tool with incredible features like real-time analytics and cross-platform tracking. It has a very loyal client base since it meets all the needs of modern digital businesses.
This is a good analytical marketing tool for product managers who collect data and want to analyse the collected data themselves. It can be customized according to the needs of businesses.
This analytical marketing tool is widely popular and is great at pinpointing the spot in a multi-step digital journey.
The analytical marketing tool Pendo is great for product managers looking for proactive engagement with users. It offers quantitative and qualitative insights into customer experience.
This is rich, robust, and equipped with collaboration tools. Brands can use FullStory to understand customer issues and get appropriate answers.
Glassbox promises a frictionless digital journey to customers, and works in real-time across websites and mobile applications.
This is a highly-rated tool and offers real-time insights into a customer’s digital journey.
A leading product analytics tool, Indicative explores user behaviour around products and collects insights about each touchpoint. With this tool, users can make an informed decision.
This is a well-trusted tool and helps product managers to watch real user sessions. They can thus track errors and performance issues in a product.
Exhilarating Career in Product Analytics
Pursuing a career in product analytics will prove to be one of the best career decisions you could make. However, there are some prerequisites for becoming a product analytics manager and climbing up the ladder. It is crucial to acquire relevant skills and deep knowledge about the nitty-gritty of product analytics before you begin to search for jobs in this field.
You can easily acquire the skills and an in-depth understanding of product analytics with product management certification courses. Product management courses help you in the journey towards advancing your career to a product analytics manager from an executive position.
Emeritus offers various product management and strategy courses. Enrolling in any of these programmes will help you acquire crucial skills pertinent to ideation, product development, testing and refining marketing and sales from a product perspective. This engaging learning experience will give you a strong tactical and strategic understanding of disruptive business models, conceptualising innovative products, with the customer as a focal point and driving overall business growth.