The consumer generates a lot of data on their preferences, experiences and activities that businesses can use to optimize their products and services to match consumer demands. The right analytics tool is crucial to reaching business goals such as more engagement, increased sales and more efficient operations.

Decide on which data types you would like to integrate and how you plan to achieve this. Some tools are made to provide traditional enterprise reporting, whereas others are designed to assist you carry out advanced mathematical analysis or track sensitive data, such as health data. It is important to consider how the analytics tool you’re considering will integrate with your existing workflow and data structure.

Certain tools are designed for experienced users and data scientists, whereas others allow non-technical users to perform analysis with a point-and-click interface. You should also take a closer look at the options for data visualization and features offered by each tool. Some tools are designed to create visual charts, while others require SQL or third-party tools in order to create models of the data before it can be analysed.

After narrowing your options down, think about the cost and also whether the platform relies on software licenses or subscription fees. Some tools are free, while others require an upfront investment as well as ongoing maintenance fees. Be sure to weigh these costs against the potential return on investment from insights and efficiencies gained using the analytics tool.

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