AI driven Product Analytics Tools 2024

Digital world is very chaotic; we are over flooded with information about anything we ask for! now, what level of accuracy we get, that will always remain a question mark!

As we have already realised that the digital competition is going to be much tougher, so the decision making in any enterprise business (which are highly influenced by various parameters), will be really tough unless we use well define data driven decision making mechanism.

According to Mckinsey , "rich data turn customer insights into retail excellence".

Therefore, every retail marketing operation is highly depending on customer data, and correctly analyzing massive data is one of the key significant factors in business success.

Product analytics software measure and summarize user interactions of any software applications, that provides companies with visibility about how their user interact with product, what features they use, where they click, what type of content and event they browse the most!

Product analytics key features overview

Now most of the tools provides some common functionalities as per industry standard, then provides some customization option, which can be more specific to that business or service, even in case of big enterprise business they develop more additional functionalities to satisfy typical requirement specification. Some product analytics tools are very industry (business domain) specific.

Most of the qualitative analytics tools provide detail report about user behavior, while quantitative analytics tools focus on numerical data.

Some analytics tools provide different type of report based on user device, because when people use desktop, tablets and mobile, the way they interest with application that may differ from device to device, some tools may not focus on this part, they simply end up showing the device type.

Here are some of the top advanced analytics tools are trying to help in data driven decision making and improve retail marketing operation.

• Google Analytics

  Google analytics is one of the most popular analytical tools for growing online business, it has both free and paid version.

  As a first time user can start using Google analytics for analysing the status of your website, which will given deep insights about how you can improve the site for better performance.

  Learn how to implement Google Analytics in your website step by step.

• SEMRush Product Analytics

  Semrush provides 40+ tools analytics that can help any online business owner to find digital marketing challenges and the solution in very data driven way.

  Semrush tools are very easy to use, you don’t need to even install, just provide your url and run the tool, one input multiple solutions, you can try this tool one month for free of cost.

  Learn more about how to use SEMrush tools for growing website traffic in systematic ways.

• Amplitude Analytics

  This tool analyzes user behavior, help to grow your product, build better products by turning user data into meaningful insights. amplitude focus on some below key areas

  • How user behavior insights drive business growth
  • ROI analysis

  This analytics products will help to improve user experience and increase lifetime value and retention.

  Big companies like PayPal, Adidas, Samsung, Hubspot are using this products to analyse their user behaviours.

• Tableau Analytics

  Tableau is a business intelligence software tools that helps user see and understand their data.

  Tablueau has various solutions for different industries, technologies; there are huge community support and online resources to learn from! they have some excellent data visualizations mechanism, which help to analyze and improve retail marketing and produce best ROI.

• Funnel.io

  this tool helps you to understand and take control of your marketing data. one of the popular tools for making data-driven businesses decision.

  We can fetch data from over 500 marketing and advertising platforms (like facebook, linkedin, google ads, bing ads, salesforce, tableau etc.) using this data analytics tools

• SAS

  SAS is one of the powerful leaders in Analytics Software and Solutions. SAS is a very useful tools for data scientist, statistician, business analyst and forecaster.

  SAS is redesigning the way analytics and machine learning are consumed for producing optimal results that solve business challenges with more accuracy.

  SAS Viya is an AI, Analytic and Data Management platform that runs on a scalable cloud architecture like Azure, SAS bring up more result oriented analytics in partnership with Microsoft Azure, so, for any enterprise business this may be a good choice to consider SAS as analytics partner.

• Power BI (Microsoft)

  Power BI is a business analytics service by Microsoft.

  Power BI as the name says this is very powerful data analytics tools, which is easy to share, collaborative and interactive, allow you to load data from various data source like excel, Google analytics, sales force, dynamics, adobe.

  This tools is designed for data analysis and data visualization on a massive scale, learn more about Microsoft Power BI

• IBM Analytics Products

  IBM has produced few Data Analytics products powered by AI, there are different type of products like IBM Cloud Pak for Data as a Service, IBM Cloud Pak for Data System etc, IBM analytics support big data analytics, AI, machine learning and deep learning workloads along with other traditional high-performance computing applications.

  IBM data analytics solutions are more suitable for large enterprise business with high volume of data.