What is product analytics?

• Product usage

• Customer behavior

• Product sales

The process of product analysis involves the gathering, analyzing, and interpretation of a wide range of data related to these KPIs and typically others. Product analytics can give organizations key insights into a wide range of different product-related questions. Here are some common examples:

• How are consumers using the product, and what features do they seem to use the most?

• Are customers experiencing any concerns or issues when using the product?

• How is the product performing in revenue generation, user engagement, and user retention?

• Is there any data that indicate opportunities for product optimization or product improvement in the design of the product or the user experience?

When conducting product analytics, organizations usually gather data from a variety of sources. These might include:

• Mobile and internet analytics tools

• Customer surveys

• Product usage data

• User feedback

After an organization gathers this key data, it then analyzes it to determine specific patterns, trends, and insights that can assist in product development and optimization activities.

Many different kinds of professionals and teams use product analytics. Common examples include:

• Product developers

• Product managers

• Product owners

• Product designers

• Product marketers

Using data gleaned from product analytics to inform certain key decisions can have the positive outcome of an organization being able to develop more engaging and effective products, improve overall customer satisfaction rates and retention, and increase sales and growth.