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10 Analytics Tools that Every Product Manager Needs



10 Analytics Tools that Every Product Manager Needs

A product manager has a lot of responsibility. According to Medium, product management roles in the US have grown exponentially over the last three years, with 32% more job placements available now than in 2017, making it a very viable career choice. As a product manager, you are in charge of the product manager departments, you overlook the active product development, and you act as a team leader.

The obligations can be overwhelming. However, there is a way that can make product management easier. All you need is to employ analytics tools. Using product manager tools will help you make better decisions and organize work so that you gain more revenue. Empower your team’s productivity with data-driven decisions and you’ll be able to reduce costs.

In order to achieve better clarity and utility from each tool on our list, we will break the list down into two categories. While the first will focus on full-stack tools dedicated to product management analytics, the second will represent complementary, support tools worth integrating into your stack as a means of assistance. If you are ready to enlist analytics tools in your everyday routine, here are a few that you should consider:

Full-Stack Tools

Google Analytics – One of the most popular tools out there. It can be integrated with other tools like Google AdWords, Google Search Console, and Google Data Console. This makes Google Analytics a great tool for identifying hotspots within your website or online service, tracking visitor behavior, as well as search engine optimization which will allow for better worldwide visibility.

Coupled with writing platforms such as Evernote and Grab My Essay, this full-stack suite can become an effective tool in your product management arsenal going forward. According to W3 Techs, Google Analytics is used by 55% of all websites on the WWW to some capacity, making its use in digital product management and analytics essential.

10 Analytics Tools that Every Product Manager Needs

Cyfe – When it comes to product manager tools, it’s often a good practice to rely on services that allow for cross-platform integration. This product management tool allows you to analyze data by extracting them from multiple tools like Google Analytics, Salesforce, MailChimp, and a variety of social media networks. You can also turn data into visuals to make them more presentable.

The service portfolio featured on Cyfe includes a fully customizable UI, extensive dashboard sharing options, KPI tracking as well as real-time monitoring of numerous channels related to your product management needs. It is an intuitive, full-stack suite that will allow both established professionals and newcomers to product management complete freedom to develop their projects.

Insight – Powered by AI, Insight can manage huge amounts of data and deliver predictive analytics. The key benefits of using Insight lie in its feature list which consists of workload alignment functionality, customer experience ideation as well as transformative, cloud-based computing services. Based on the analytics generated by Insight’s AI algorithms, you’ll know how to direct product management more efficiently.

Diana Adjadj, Head of Product Development at Trust My Paper, had this to say on the topic of product management: “Settling for a full-stack platform which corresponds with your team’s work habits and development needs is always a winning scenario. Finding that special platform, however, takes trial and error, so make sure to give each one a fair shot in the early days of your pre-production.”

ProfitWell – A large part of product management lies in profit predictions and financial monitoring. ProfitWell is a platform dedicated to minimizing production costs and maximizing your ROI via thorough auditing and reduction of churn during development. It is one of the more competent product manager tools for SaaS development which is why managers should keep an eye out for it.

ProfitWell can facilitate higher customer base retention and allow for extensive report generation which will allow further refinement and optimization of both your product and its pricing model.

Keep up with your financial metrics, real-time growth updates, revenue trends, and much more with this full-stack analytics tool.

Adobe Analytics – When it comes to full-stack platforms oriented toward visual product development and cross-platform integration, Adobe Analytics leads the pack. The tool features analytics algorithms focused on web, market research, as well as predictive analysis, facilitating the most suitable direction to take for your product development cycle. Adobe Analytics can work with large data sets and export them as Excel spreadsheets.

According to Forrester Research, this product management tool can help you achieve an impressive 224% ROI. This makes it suitable for projects with limited resource pools as well as those with multiple financial stakeholders aiming to gain a return on their investments. Integrating writing services such as Readable and ClassyEssay in conjunction with Adobe Analytics can lead to better product development planning, as well as more informative report submission to all parties involved in the management process.

Support Tools

Product Plan – In order to get the most out of your product management development cycle, outlining your project from start to finish should be a common practice. Product Plan is a representative of product manager tools designed with road map design and product cycle outlining in mind.

It allows for visual plan communication with its highly intuitive UI capable of generating a tangible road map for your projects in mere minutes. Once your process is standardized, future projects can easily be retrofitted via Product Plan to better fit into a mold of outlining and then developing projects prior to their production and launch. Combined with a full-stack tool from the previous section, it can prove very useful in streamlining your product management.

Typeform – One of the most important elements of successful product management is to know what your customer base wants and needs. As such, Typeform is a competent support tool which can serve as a great addition to your stack and allow for easy-to-manage surveys of your customer base.

Once your forms are created, you can send them out for engagement and gather generated feedback via the platform’s UI. Typeform is very user-friendly both in terms of form creation and customer-side interaction, meaning that your open and submission rates will effectively experience an uptick going forward. By personalizing your approach to customer base research, Typeform can assist your product management and development in a tangible and invaluable way.

Slack – Team communication is an essential part of product management, no matter how small or localized your development group may be. After all, remote work conditions dictate that professional product manager tools should be used to facilitate efficient around-the-clock communication. Slack is a platform designed with appealing UI, user-friendly functionality and is highly customizable, readily available for collaboration.

Angela Baker, Chief HR Officer at Best Essay Education, had this to add on the topic: “Using a tool specifically designed for remote teamwork will drastically lower your margin for error and the possibility of miscommunication. While emails and social media chat interfaces can indeed supplement your team’s communication, they should under no circumstances be used for day-to-day workload management and project development.”

FullStory – When it comes to customer insight, it’s best to enter product management and development prepared. FullStory is a customer research platform with a suite of functions which revolve around visual pattern tracking, heat map generation and user behavior analysis. It is a very unique and intuitive tool on the market given its slick design and user-friendly nature which doesn’t require deep analytical knowledge from the product manager to perform well and generate useful data.

FullStory is also very subtle and privacy-friendly, which means that customers will never be more than data for you to implement in product management, ensuring their online safety above all else. Whether you find yourself in pre-production or post-launch development, FullStory should find its place in your stack for its research capabilities as it can complement full-stack management platforms quite well.

FreshService – Lastly, documentation and risk management during your product management and development should be a topic of discussion prior to launch. FreshService is a platform dedicated to development process documentation and risk assessment, which can be helpful for both SaaS and physical product development.

It is an intuitive and multi-channel enabled platform which can streamline your product management process and complement full-stack analytical tools quite well given its documentation-oriented nature. In addition, it features gamification functionality which can elevate your team’s collaboration and productivity during product management, a feature complemented by a fully-functional mobile app available for remote work conditions.

In Summary

Using product manager tools will increase overall productivity and bring you closer to your ultimate goal. Combined with support tools, your product management capabilities will rise exponentially, allowing for much easier and effective development cycles to take place.

Tech-based solutions are created for easier management and more efficient results. You will finally be able to optimize operations and improve daily workflow. Make sure to give multiple product manager tools a shot and combine them while doing so – settle for a stack that reflects your team’s work habits and requirements and the results of your efforts will speak for themselves.

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