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10 Analytics Tools that Every Product Manager Needs

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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.

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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How to Construct a Paystub

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How to Construct a Paystub

Pay stubs are vital for tracking employee wages and any related payments, as well as keeping a full record of how your business has been paying employees in general. Of course, like any part of your payroll processing system, it takes time to learn the specifics of how to create them.

How do you build a paystub from scratch, and what kind of tools can simplify the work? More importantly, how can you ensure consistency between paystubs?

What do paystubs usually contain?

Pay stubs are records of employee information relating to their identity and their payments. This means that a paystub contains things like the employee’s name and address, the business name and address, their net and gross earnings, and any relevant insurance details and/or deductions.

These can get very complicated as more and more information becomes relevant. For example, a typical paystub might also contain things like back pay and overtime, sick leave, hours worked, employee contributions, and also any taxes withheld.

These serve as records and payment documents, giving them two distinct purposes in the workplace. This, understandably, also means that they are incredibly important, and getting them right is vital for making sure that your payroll system is operating as it should be.

How to construct a paystub from scratch

Creating your first paystub is not as simple as it sounds. There are specific steps you need to take, and if they are not taken then it could lead to problems.

The first step is to always create a consistent format. Paystubs do not necessarily need to all be consistent, but it makes them much easier to read and compare, which can be important if they are being used as records.

Beyond that, information from the payroll system also has to be gathered. This is also very important – while most businesses will have their payroll information readily available, it still has to be checked for accuracy and kept available so that the paystubs can be produced.

From there, any relevant information is added in and/or calculated. While this is an oversimplified breakdown of how it works, the truth is that a large portion of paystub creation comes down to the manual inputting of payment data, which can become increasingly difficult in larger companies.

Automation through paystub creators

Manual creation of paystubs can be incredibly slow and monotonous, which is why many businesses and companies use automated software instead. Good paystub creators, such as the PayStubCreator software, can be used to partially automate a lot of the hard work.

Not only do these tools make it incredibly easy to put together a lot of paystubs all at once, but they can often provide much more streamlined systems for assembling paystubs as a whole. This includes things like quickly mass-producing paystubs, or ensuring that they all use the same format.

Paystub generator tools are a great option for making paystubs quickly, and are often a preferred method over doing it manually, regardless of a business’s size and number of employees or contractors.

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Top 7 HRM tools every Human Resource Manager should explore

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Top 7 HRM tools

There are a variety of human resource management (HRM) tools available, each with its own unique features and benefits. In this article, we have covered seven popular HRM tools that organizations often use.

All these tools are cloud-based human resource management (HRM) tools that are designed to help organizations manage all aspects of HR management, including payroll, benefits, recruitment, talent management, and more. These tools have gained significant popularity in recent years due to their user-friendly interface, advanced features, and scalability. In this article, we will also discuss how to use them effectively.

All the below HRM tools offer several benefits to organizations, including:

  1. Cost Savings: They can help organizations save money by reducing the time and resources required for HR management tasks.
  2. Accessibility: They are cloud-based tools, which means that users can access them from anywhere with an internet connection. This makes it ideal for remote workforces.
  3. Compliance: They are designed to help organizations stay compliant with labor laws and regulations, reducing the risk of costly penalties and lawsuits.
  4. Scalability: They are designed to scale with organizations as they grow, making them an ideal tool for small and medium-sized businesses that are looking to expand.

To start using these tools, organizations must first purchase a license and complete the setup process. For most of these tools, this involves defining user roles, configuring security settings, and setting up integrations with other HR systems. Once the setup process is complete, users can log in to the platforms and access their features through the main dashboard.

One of the key benefits of using the below tools is their user-friendly interface, which is designed to be intuitive and easy to navigate. These platforms are organized into modules, which can be accessed through their main menus on the dashboard. Users can also customize their dashboard to show the modules and reports they use most frequently.

Workday

Features of Workday

Some of the key features of the tool include:

  1. Human Capital Management: This module provides core HR features such as employee data management, time and attendance tracking, and benefits administration.
  2. Recruiting: This module is designed to help organizations manage the entire recruiting process, from creating job postings to conducting interviews and making job offers.
  3. Talent Management: This module provides tools to help organizations manage employee development and performance, including goal setting, performance reviews, and succession planning.
  4. Payroll: This module provides comprehensive payroll management features, including tax compliance, payroll processing, and reporting.
  5. Time and Absence Management: This module provides features to help organizations track employee time and attendance, manage time-off requests, and enforce time and attendance policies.

BambooHR

Features of BambooHR

Some of the key features of the tool include:

  1. Applicant Tracking: This module is designed to help organizations manage the entire recruiting process, from creating job postings to conducting interviews and making job offers.
  2. Onboarding: This module provides tools to help organizations onboard new hires, including setting up new hire paperwork and conducting orientation training.
  3. Employee Data Management: This module provides core HR features such as employee data management, time and attendance tracking, and benefits administration.
  4. Performance Management: This module provides tools to help organizations manage employee development and performance, including goal setting, performance reviews, and succession planning.

Conclusion

BambooHR is a powerful HRM tool that offers a wide range of features to help organizations manage all aspects of HR management. To use BambooHR effectively, organizations should define user roles, customize dashboards, train users, and use data analytics. BambooHR offers scalability, accessibility, and security.

ADP

ADP is one of the most popular HRM tools on the market, with over 700,000 clients worldwide.

Getting Started with ADP

Features of ADP

Some of the key features of the tool include:

  1. Payroll Processing: ADP offers comprehensive payroll processing features, including tax filing, direct deposit, and wage garnishment.
  2. Benefits Administration: This module provides tools to help organizations manage employee benefits, including enrollment, plan administration, and compliance tracking.
  3. Time and Attendance Tracking: This module provides tools to help organizations track employee time and attendance, including time tracking, leave management, and overtime tracking.
  4. Talent Management: This module provides tools to help organizations manage employee development and performance, including goal setting, performance reviews, and succession planning.

Oracle HCM Cloud

Features of Oracle HCM Cloud

Oracle HCM Cloud offers a wide range of features to help organizations manage all aspects of HR management. Some of the key features of the tool include:

  1. Talent Acquisition: Oracle HCM Cloud provides tools to help organizations manage the entire talent acquisition process, including job requisitions, applicant tracking, candidate screening, and offer management.
  2. Payroll Processing: Oracle HCM Cloud offers comprehensive payroll processing features, including tax filing, direct deposit, and wage garnishment.
  3. Benefits Administration: This module provides tools to help organizations manage employee benefits, including enrollment, plan administration, and compliance tracking.
  4. Performance Management: Oracle HCM Cloud provides tools to help organizations manage employee performance, including goal setting, performance reviews, and succession planning.

Oracle HCM Cloud is a powerful HRM tool that offers a wide range of features to help organizations manage all aspects of HR management.

SAP SuccessFactors

Features of SAP SuccessFactors

Some of the key features of the tool include:

  1. Talent Management: SAP SuccessFactors provides tools to help organizations manage the entire talent management process, including recruitment, performance management, learning and development, and succession planning.
  2. Payroll Processing: SAP SuccessFactors offers comprehensive payroll processing features, including tax filing, direct deposit, and wage garnishment.
  3. Benefits Administration: This module provides tools to help organizations manage employee benefits, including enrollment, plan administration, and compliance tracking.
  4. Performance Management: SAP SuccessFactors provides tools to help organizations manage employee performance, including goal setting, performance reviews, and succession planning.

Zenefits

Features of Zenefits

Some of the key features of the tool include:

  1. Onboarding: Zenefits provides tools to help organizations manage the onboarding process for new hires. This includes digital offer letters, online forms, and e-signature capabilities.
  2. Payroll Management: Zenefits offers comprehensive payroll management features, including automatic tax filings, direct deposit, and wage garnishment.
  3. Benefits Administration: This module provides tools to help organizations manage employee benefits, including enrollment, plan administration, and compliance tracking.
  4. Time and Attendance Management: Zenefits provides tools to help organizations manage employee time and attendance, including time tracking, PTO requests, and scheduling.

Conclusion

Zenefits is a powerful HRM tool that offers a wide range of features to help organizations manage all aspects of their HR operations. To use Zenefits effectively, organizations should customize their company policies, train users, use integrations, and use data analytics. Zenefits offers several benefits to organizations, including cost savings, accessibility, compliance, and scalability.

UltiPro

Features of UltiPro

UltiPro offers a wide range of features to help organizations manage all aspects of their HR operations. Some of the key features of the tool include:

  1. Payroll Management: UltiPro provides comprehensive payroll management features, including automatic tax filings, direct deposit, and wage garnishment.
  2. Benefits Administration: This module provides tools to help organizations manage employee benefits, including enrollment, plan administration, and compliance tracking.
  3. Time and Attendance Management: UltiPro provides tools to help organizations manage employee time and attendance, including time tracking, PTO requests, and scheduling.
  4. Performance Management: UltiPro offers a range of tools to help organizations manage employee performance, including goal setting, performance reviews, and feedback management.
  5. Recruitment and Onboarding: UltiPro provides tools to help organizations manage the recruitment and onboarding process, including job postings, candidate tracking, digital offer letters, online forms, and e-signature capabilities.

These were some of the most powerful HRM tools that offer a wide range of features to help organizations manage all aspects of their HR operations. Which tool do you use in your company?

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Artificial Intelligence

Top 10 Artificial Intelligence tools for businesses

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Artificial Intelligence tools for businesses

Artificial Intelligence (AI) has become an increasingly popular technology for businesses across the globe. With its ability to automate tasks, analyze data, and provide valuable insights, AI tools have become essential for modern businesses looking to stay competitive. In this article, we will explore the top 10 AI tools for businesses, their features, and how they can benefit your business.

  1. TensorFlow: TensorFlow is an open-source AI tool developed by Google. It is a machine learning framework that is used to build, train, and deploy AI models. TensorFlow supports a wide range of applications, including image recognition, natural language processing, and predictive analytics. Its ability to work with multiple programming languages, including Python and Java, makes it a popular choice for developers.
  2. IBM Watson: IBM Watson is a cloud-based AI tool that offers a range of services, including speech-to-text, natural language processing, and machine learning. It is designed to help businesses automate processes, gain insights from data, and improve decision-making. IBM Watson can be integrated with various platforms, including Salesforce and Slack, making it a versatile tool for businesses.
  3. H2O.ai: H2O.ai is an AI platform that offers machine learning and deep learning capabilities. It is designed to help businesses build and deploy AI models quickly and efficiently. H2O.ai supports various programming languages, including R, Python, and Java, and offers a range of tools, including automatic feature engineering, model tuning, and visualization.
  4. Amazon SageMaker: Amazon SageMaker is a cloud-based AI platform that offers machine learning and deep learning capabilities. It is designed to help businesses build, train, and deploy AI models quickly and easily. Amazon SageMaker offers a range of tools, including automatic model tuning, data labeling, and model deployment.
  5. KAI: KAI is an AI platform that offers conversational AI capabilities. It is designed to help businesses build and deploy chatbots and virtual assistants quickly and easily. KAI supports various channels, including Facebook Messenger, WhatsApp, and Slack, making it a versatile tool for businesses.
  6. Google Cloud AutoML: Google Cloud AutoML is a cloud-based AI tool that offers machine learning capabilities. It is designed to help businesses build custom AI models quickly and easily, without requiring extensive AI expertise. Google Cloud AutoML supports various applications, including image recognition, natural language processing, and translation.
  7. DataRobot: DataRobot is an AI platform that offers machine learning capabilities. It is designed to help businesses build and deploy AI models quickly and efficiently. DataRobot supports various programming languages, including Python and R, and offers a range of tools, including automatic model tuning and feature engineering.
  8. Microsoft Azure Machine Learning: Microsoft Azure Machine Learning is a cloud-based AI tool that offers machine learning capabilities. It is designed to help businesses build, train, and deploy AI models quickly and easily. Microsoft Azure Machine Learning supports various programming languages, including Python and R, and offers a range of tools, including automatic feature engineering and model tuning.
  9. TensorFlow Lite: TensorFlow Lite is an AI tool that is designed to run on mobile and IoT devices. It is a lightweight version of TensorFlow that is optimized for mobile and embedded devices. TensorFlow Lite supports various applications, including image recognition and natural language processing.
  10. Wit.ai: Wit.ai is an AI tool that offers natural language processing capabilities. It is designed to help businesses build and deploy chatbots and virtual assistants quickly and easily. Wit.ai supports various channels, including Facebook Messenger, WhatsApp, and Slack, making it a versatile tool for businesses.

In conclusion, AI tools have become essential for businesses looking to stay competitive in today’s market. The above-mentioned AI tools offer a range of capabilities, including machine learning, deep learning, conversational AI, and natural language processing

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