A Product Analytics Tool is software that provides businesses with insights about customers’ interaction with their products. Product analytics tools help companies with digital products to collect data and analyze how customers interact with various features of their products. The analytics provided by these tools helps product managers make data-driven decisions for further product development, thereby enhancing customers’ experiences.
A Product Analytic Tool is the most reliable and objective way of receiving feedback about digital products. Satisfied customers often turn into a loyal customer base for any business. The use of product analytics tools gives insights into whether the customers are satisfied or not. The major aspects for which these tools are used include the following –
- Product Engagement – It tells how often the users use any specific feature of your product or how much time they spend with your product.
- User Behavior – It tracks and collects data of user behavior i.e., how users are utilizing the product, on what feature do they spend more time on, etc.
- Product Performance – It tells which features of the product are attracting more customers and which features are turning away the traffic.
- Comparative Analysis – It provides dashboard and analytics reports in a visual format thus making data analysis easier.
Product Analytics Tools are an investment worth their price and much more. These tools provide multifaceted benefits, including –
- Awareness about the performance of your product based on verifiable statistics and analytics.
- Detailed insights into the frequency of visits by customers as well as their interaction with specific features of the product.
- Comparable data about various features of the product, thereby creating a base for SWOT analysis.
- Segmented analysis on various parameters as geographical location, age, and behavioral patterns of the users.
- Identification of users’ pain points or the point where customers are getting stuck, and business is losing customers.
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1. Google Analytics
Google Analytics is one of the first product analytics tools, and it isn’t out of the race yet. The development team has been continuously working to improve its functionality and user experiences. The best thing about Google Analytics is that you can use its basic version when you are just starting and not ready to pay for the tool yet. Later, you can upgrade to the premium version to take your product management to next level.
2. Amplitude Analytics
The Amplitude Analytics tool boasts a loyal client base that includes several giants of the digital market. It is a powerful tool that meets all the needs of modern digital businesses. It provides many incredible features like real-time analytics and cross-platform tracking. The security system and customer support features too are strengths of this tool.
3. Mixpanel
Mixpanel is a good product analytics tool for product managers who want to analyze the collected data themselves. The tool provides a wide range of customization options for the unique segmentation needs of businesses from different industries. With its customizable dashboard, Mixpanel provides its user a long rope to organize and manage their metrics.
4. Heap
Heap is one of the highly-rated product analytics tools. It works incredibly well in pinpointing the spot in a multi-step digital journey where users get stuck or struggle to move ahead. If you are looking for a product analytics tool that can tell you stories of each product user then Heap should work fine for you.
5. Pendo
Pendo is a good choice for product managers looking for proactive engagement with customers to understand overall product usage. The tool provides quantitative as well as qualitative insights into users’ experience with the product. It provides the feature of an in-app message through which customers can be guided through the product journey. Its availability on the web as well as the mobile application makes it a good choice for businesses having both small and large product portfolios.
6. FullStory
FullStory Analytics tool has a rich and robust data analytics system. Additionally, it is equipped with collaboration tools that businesses can use to understand issues and get answers to their needful questions. The tool promises a better conversion rate, improved organizational efficiency, improved customer retention, and higher business growth. It provides historical and real-time user sessions to help the product management team monitor actual user behavior.
7. Glassbox
As indicated by the name, Glassbox, the analytics tool promises a frictionless digital journey to their customer. The analytics tool works in real-time across websites and mobile applications. The AI-enabled visualization and analytics help product managers visualize user journeys and understand their struggles. This helps them in solving issues and enhancing the user experience.
8. Auryc
Auryc is a highly rated product analytics tool. It provides real-time insights into your clients’ digital journey. Auryc helps businesses in easily finding and resolving issues in customers’ digital journey through your product. It provides data to show why customers are buying or not buying your product and helps to track the users thereafter.
9. Indicative
It is one of the leading product analytics tools. It explores user behavior across the product and collects insights about every touchpoint, thus enabling product managers to make informed decisions. Indicative not only shows the issue but also provides you with actionable insights to quickly resolve issues and enhance the user experience for your customers.
10. LogRocket
LogRocket is one of the well-trusted product analytics tools. It not only lets product managers watch actual user sessions but also lets them track errors and performance issues in their product. The tool pinpoints user issues and does a quick scan to see if the glitch is some user error or an actual bug. The session insights provided by LogRocket are very detailed. It is a very user-friendly tool.
11. UXCam
UXCam is a product analytics tool that empowers mobile teams with the granular insights needed to develop customer-centric mobile apps. The mobile app analytics platform captures and visualizes user behavior for faster, more confident product decisions. With their easy to install SDK, product managers can plug in and immediately capture insights through heatmaps, funnel analytics, screen recordings, crash analytics, and much more.
You can find many equally good options when you search for a product analytics tool. Different tools have different strengths, and they need to be matched with your specific requirements. So, the first thing you need to do is to understand your needs precisely. You might need a combination of tools rather than a single one. So, list down your specific requirements and then search for a tool that can fill the gap. A well-used product analytics tool can take your product and your company from good to great. So, invest in a product analytics tool that suits your needs the best.
You might also like:
- Beginner’s Guide to Product Analytics – Learn from this guide, what product analytics is, why is it useful, how to select the right product analytics tool for your company, and more.
- To understand how SmartKarrot can helps SaaS companies keep and grow loyal customers, Request a Demo.
Surojit has over 15 years of experience in quality and implementations. He is a promoter of an extremely light and efficient Agile process to fit business needs. In his prior role as product owner, he built a robust product in a very short span of time.
Published October 11, 2021, Updated May 15, 2023
