“The most valuable commodity I know of is information." — Gordon Gekko
October 3, 2022 by Jonas Kurzweg
To be data-driven, you have to select the product analytics tools you use carefully. However, there are so many vendors on the market that it can be easy to lose track of what tools are worth considering.
According to McKinsey, data-driven organizations are 23 times more likely to acquire customers.
They are also six times more likely to retain customers and 19 times more likely to be profitable as a result.
We’ve done comprehensive research to help you understand what requirements you should look for when comparing product analytics software, and we’ll dive into the list of tools below that we rate as the best ones on the market.
Product analytics tools measure and summarize user interactions in software applications. This includes applications for both web and mobile devices. The analysis of your product can lead to insights into onboarding, retention, or churn.
Capturing events and user journeys is the industry-standard capability of a product analytics tool. Whichever tool you choose should provide the relevant insights on the dashboard.
Advanced product analytics solutions automatically capture all the interactions users take without requiring an event setup.
Those tools use the additional data depth to generate heatmaps or session replays and allow for retroactive analysis.
The following features are typical in most tools for product usage analytics:
Automatic data capturing
Detailed user segmentation
Detailed session segmentation
Ability to add and analyze events
Custom segments and reports
Key KPI dashboards
There are three layers that your product analytics tool needs to cover:
The first layer is the big picture of the product. These are the top-level KPIs and the general user flows.
The second layer covers specific funnels. User flows such as onboarding, conversion, or engagement funnels are highlighted here.
The third layer gets specific about individual user journeys. Understanding user behavior will enable you to improve the UX of your product.
The following tools are the best product analytics tools on the market.
We included the average review on Capterra to prove our point. We also tried to provide you the pricing for these tools, but keep in mind that all of the premium players on the market use a custom pricing model that varies depending on the usage volume.
UXCam is the market leader for mobile app product analytics. The tool is exclusively dedicated to mobile apps.
Reviews: 4,6 out of 5, based on 22 reviews.
Platform: All mobile app frameworks - iOS / Android / React Native / Flutter / Xamarin / Unity / NativeScript / Cordova
Pricing: The first 100K sessions are free on the trial. Pricing upon request.
UXCam’s selling points:
UXCam uses auto-capture technology. This means that all gestures that users make in your mobile app are saved as data points and can be analyzed retroactively.
The benefit of this tech is that you don't rely on manual event setup to start your product analyses.
UXCam is for you if:
You have a mobile app
You aim to deliver a better UX and increase conversion rates
You want to analyze data retroactively without the need to set up events
You want quantitative and qualitative analytics
UXCam is NOT for you if you want:
A product analytics tool for web app
A tool to run AB tests
A tool to analyze marketing campaigns
UXCam takes 2 lines of code and less than 5 minutes to integrate.
"Wish I found UXCam sooner"
"Such a good tool, indispensable!"
UXCam offers a free plan and a free trial. You can sign up for free here.
Reviews: 4,4 out of 5, based on 84 reviews.
Pricing: Starts at $36 per month with limited features and sessions.
Mixpanel’s selling points:
Reviews: 4,4 out of 5, based on 167 reviews.
Pricing: According to this article, pricing starts at $100,000. Adobe Analytics doesn’t disclose pricing.
Adobe Analytics’ selling points:
Custom analysis and visualization.
Reviews: 4 out of 5, based on 1 review. Pricing: Gainsight doesn’t disclose pricing.
Gainsight PX’s selling points:
Behavior tracking with and without custom events.
Reviews: 4,4 out of 5, based on 39 reviews.
Pricing: According to GetApp, Amplitude is free for up to 10 million monthly events. Amplitude’s business plan starts at $995/month, enterprise pricing is available upon request.
Amplitude’s selling points:
Real-time event stream.
Tools for product analytics come in different forms. Some just offer analytics, while others also provide related toolsets to, for example, capture customer feedback.
There’s also a difference between qualitative and quantitative product analytics tools. Qualitative analytics tools concern themselves with user behavior, whereas quantitative analytics tools focus on numerical data.
The technology used for web and mobile products isn’t the same, which is why it makes sense to have separate tools for each. A one-size-fits-all product analytics tool is likely to lack features or capabilities. You want to get specific and go for specialized tools too.
You can also try building your own product analytics tool in-house. This comes with additional development costs and a certain level of risk. We recommend a cost-benefit analysis here.
We recommend that you take 5 minutes of your time to watch analytics thought leader Christian Eckhardt explain how to properly set up a product analytics tool:
Effectively implementing a product analytics tool requires comprehensive research and clarity of the objectives you want to achieve. A clear understanding of the requirements and benefits of each one of these tools will help you in your further research.
We hope this guide proves useful in searching for the best solution for you. Ready to give UXCam a try? Start a free 14-day trial now. No credit card required.
UXCam is a product analytics tool built exclusively for mobile applications. It supports native mobile apps (iOS and Android), including apps developed using cross-platform tools like PhoneGap, Xamarin, React Native and Flutter.
UXCam was founded in 2012 by a team of user experience (UX), mobile development and data analysis experts to support the need for mobile UX analytics.
Product Analytics is the process of gathering quantitative and qualitative data that allow product teams to analyze how users are engaging with a digital product to continuously deliver the best user experience.
Product Analytics tools enable businesses to see how customers engage with their software. Product analytics track the digital footprint of users to uncover opportunities for improvement.
Product metrics track the success of a software product. Product metrics examples include retention rate, recurring revenue, or daily active users.
Product Analysts analyze data to determine marketing and business strategies for a product.
UX, marketing & product nerd. Coffee enthusiast. Working at UXCam. Leave me comments if you have any!