Businesses can make use of the data generated by consumers to enhance their products and services to meet the needs of customers. The right analytics tool is crucial to reaching business goals like increased engagement, greater sales and more efficient operations.
Start by deciding what kinds of data you’d like to integrate, and how you intend to integrate them. Certain tools are more geared toward traditional enterprise reporting, while others are designed to assist you perform more advanced analytical analysis or track sensitive information such as healthcare data. It is also important to consider what analytics tools you’re considering will fit into your current workflow systems and data architecture.
Certain tools provide an iterative experience for data scientists and sophisticated users, whereas others are designed to allow non-technical or people who are not experts in data to perform point-and click analysis. Think about the capabilities and features of each tool, particularly those that relate to data visualization. Some are designed to facilitate the visualization of charts while others rely on SQL or other third-party tools to create models of your data before you can examine it.
After you’ve narrowed your options down, you should consider the price as well as whether the platform relies on subscription fees or software licenses. Some tools are completely free, whereas others require an upfront investment as well as ongoing maintenance costs. Be sure to weigh these costs against the potential return on investment from insights and efficiency gained using an analytics tool.