Consumers produce a vast amount of information about their habits, preferences, and experiences that companies can utilize to improve their products and services to meet consumer demands. The proper analytics tool is essential to achieving business goals such as more engagement, increased sales, and more efficient operations.

To choose a tool, begin by determining what kinds of data you want to incorporate and how you intend to implement it. Some tools are made to provide traditional enterprise reporting, whereas others are designed to help you carry out advanced mathematical analysis or track sensitive information like health data. You should also think about how the analytics tool you’re considering will integrate with your current workflow and data structure.

Some tools are made for sophisticated users and data scientists, whereas others allow non-technical users to do analysis using a point-and-click interface. You should also be aware of the options for data visualization and features that each tool offers. Certain tools are designed to create visual charts, while others require SQL or third-party tools to create models of the data before it can be analysed.

Once you’ve narrowed down your choices, you should be aware of the cost and data analytics tools comparison whether the platform is cloud-based or based on software licenses or subscription fees. Some tools are free while others require an upfront investment and ongoing maintenance fees. Be sure to compare these costs to the potential return from the knowledge and efficiency that can be gained from using the analytics tool.