Businesses can make use of the data collected by consumers to enhance their products and services to meet customer needs. Choosing the right analytics tool to collect and analyze the data is an essential step towards achieving business goals to increase engagement, better sales, and more efficient operations.
To select a tool first determine the type of data you’d like to integrate and the best way to accomplish it. Certain tools are more geared towards traditional enterprise reporting while others are designed to assist you perform more advanced mathematical analysis or monitor sensitive information like healthcare data. It is also important to think about how the analytics tools you’re looking at will fit into your existing workflow systems and data architecture.
Certain tools are designed to cater to advanced users and data scientists, while others let non-technical users perform analysis with a point-and-click interface. You should also examine the options for data visualization and features offered by each tool. Some are designed to allow the creation of visual charts whereas others rely on SQL or other third-party tools to model your data prior to when you can examine it.
After narrowing your choices down, you should consider the price and whether the platform relies on software licenses or subscription fees. Some tools are free, whereas others require a substantial upfront investment to get started and ongoing maintenance costs. Make sure to consider these costs in relation to the potential return on investment from insights and efficiencies gained using the analytics tool.
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