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5 Best Product Analytics Tools and Software 2023

5 Best Product Analytics Tools and Software 2023

“The most valuable commodity I know of is information." — Gordon Gekko

January 30, 2023 by Jonas Kurzweg

best product analytics tools

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.

Best Product Analytics Tools and Software list

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.

  1. UXCam

  2. Mixpanel

  3. Adobe Analytics

  4. Gainsight PX

  5. Amplitude

How to Choose the Right Product Analytics Software

The following features are typical in most tools for product usage analytics:

  • Detailed user segmentation

  • Detailed session segmentation

  • Custom segments and reports

  • Data funnels

  • Key KPI dashboards

There are three layers that your product analytics tool needs to cover:

3 layers of product analytics tools
  1. The first layer is the big picture of the product. These are the top-level KPIs and the general user flows. 

  2. The second layer covers specific funnels. User flows such as onboarding, conversion, or engagement funnels are highlighted here.

  3. The third layer gets specific about individual user journeys. Understanding user behavior will enable you to improve the UX of your product.

Top Product Analytics Tools

According to our research, the following are the best product analytics tools on the market, as evidenced by their average reviews on Capterra and G2. It should be noted that these premium tools often use a custom pricing model that is based on usage volume. Prices for these tools are listed below, though it is worth keeping in mind that they may vary.

UXCam

User behavior analytics tools UXcam

UXCam is a leading mobile app product analytics tool that is specifically designed for use with mobile apps.

With a rating of 4.7 out of 5 based on 133 reviews, UXCam is a highly-regarded solution in the market. The platform is compatible with all mobile app frameworks, including iOS, Android, React Native, Flutter, Xamarin, Unity, NativeScript, and Cordova.

One of UXCam's standout features is its auto-capture technology, which automatically saves all user gestures within the app as data points that can be analyzed at a later time. This eliminates the need for manual event setup and allows for retroactive data analysis.

If you have a mobile app and want to improve the user experience and increase conversion rates, UXCam may be a good fit for you. It offers both quantitative and qualitative analytics and can be easily integrated with just two lines of code and in less than 5 minutes. However, if you are looking for a product analytics tool for web apps, a tool to run A/B tests, or a tool to analyze marketing campaigns, UXCam may not be the best fit for your needs.

What customers say about UXCam

UXCam product analytics tool review

"Wish I found UXCam sooner"

reviewYves

"Such a good tool, indispensable!"

UXCam offers a free plan and a free trial. You can sign up for free here.

Mixpanel

mixpanel mobile analytics

According to customer reviews, Mixpanel has a rating of 4.4 out of 5 based on 84 reviews. Its pricing starts at $36 per month, though it should be noted that this option includes only limited features and sessions. Some notable features of Mixpanel include its user timeline, predictive analytics, and custom dashboards.

Adobe Analytics

Adobe Analytics

Adobe Analytics is a well-regarded product analytics tool, as evidenced by its 4.4 out of 5 rating based on 167 customer reviews. While the company does not publicly disclose pricing information, it has been reported that it starts at $100,000. Some notable features of Adobe Analytics include the ability to conduct custom analysis and visualization, an intuitive interface, and powerful segmentation capabilities.

Gainsight PX

Gainsight PX

Gainsight PX is a product analytics tool that has received a rating of 4 out of 5 based on a single review. The company does not disclose pricing information for its tool. Some key features of Gainsight PX include the ability to track user behavior with and without custom events, a product guide, and the ability to gather user feedback.

Amplitude

Amplitude

Amplitude is a product analytics tool that has received a rating of 4.4 out of 5 based on 39 reviews. According to GetApp, Amplitude offers a free plan for up to 10 million monthly events. For more advanced features, the company offers a business plan starting at $995 per month, with enterprise pricing available upon request. Some key features of Amplitude include custom dashboards, user profiles, and a real-time event stream.

How to use a Product Analytics Tool

Product Analytics Definition

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.

Types of Product Analytics Software

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.

Qualitative versus quantitative product analytics

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.

Product Analytics Tool Implementation Example

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:

Conclusion

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.


FAQs

What is the best product analytics tool for mobile apps?

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.

What is a Product Analytics Tool?

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.

Why are Product Analytics Tools Important?

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.

What are Product Metrics?

Product metrics track the success of a software product. Product metrics examples include retention rate, recurring revenue, or daily active users.

What is a Product Analyst?

Product Analysts analyze data to determine marketing and business strategies for a product.

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Jonas Kurzweg
AUTHOR

Jonas Kurzweg

UX, marketing & product nerd. Coffee enthusiast. Working at UXCam.

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