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03-Slides Product-Analytics Lesson3

The document outlines a course on analytics tools, detailing various types such as classic and retroactive analytics, and provides an overview of popular tools like Mixpanel, Heap Analytics, Google Analytics, Snowplow, and Segment. It emphasizes the importance of requirements gathering to select the right analytics tool based on business needs and stakeholder input. The course also includes lessons on data collection, core metrics, reporting, and common challenges in analytics.

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rameshannare12ramdasue
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16 views27 pages

03-Slides Product-Analytics Lesson3

The document outlines a course on analytics tools, detailing various types such as classic and retroactive analytics, and provides an overview of popular tools like Mixpanel, Heap Analytics, Google Analytics, Snowplow, and Segment. It emphasizes the importance of requirements gathering to select the right analytics tool based on business needs and stakeholder input. The course also includes lessons on data collection, core metrics, reporting, and common challenges in analytics.

Uploaded by

rameshannare12ramdasue
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Analytics Tools

Matthew Brandt | Digital Analyst & Startup Co-Founder


The Journey of this Course
Part 1 | SETUP Part 2 | HOW TO Part 3 | APPLY

Lesson 5
Lesson 1 User & Cohort
Introduction Analysis
to Product
Analytics Lesson 3
Analytics Lesson 6
Tools Common
Questions & Lesson 8
Challenges Tie it all
Together

Lesson 2 Lesson 4
Data Core Metrics
Lesson 7
Collection Reporting &
Done Right Monitoring
x
Lesson Objectives
1. Differentiate between the definition of
classic and retroactive analytics
2. Formulate 3 precise requirements-gathering
questions
3. Pick a suitable analytics tool for a given
business case
Overview of Analytics Tools
What’s available on the market today?
“An analytics tool should
“
allow a certain amount of
self-service of data, but not
too much that people get
lost in the vast amount of
data”
Key Feature Groups

Metrics
Sessionisation, engagement, events,
User Identification
retention, conversions, funnels, site search,
Geolocation, demographics, stitching
campaigns, social engagement, technical
performance, e-commerce

Additional Features
A/B & multivariate testing, alerting,
Reporting
dashboards, targeting, API, quality
Real-time, trends, segmentation, device
assurance, user access and role
unification
management, heatmaps, session replay,
integrations
Classic Analytics

Classic analytics captures only those events that have been


programmatically implemented and generally only
pageview events by default. Further events can be
introduced at any time, but data is only available from the
time of implementation.

AKA “pre-defined analytics”


Retroactive Analytics

Retroactive analytics captures all events happening on-


page by default, sending them to the analytics tool. The
user is then required to “define” these events at a later stage
to use them within reports, segments and dashboards.

AKA “track everything”


Tools Overview - Mixpanel
Retroactive analytics based on events capturing and
defining the events later. Pageviews, clicks, change and
Mixpanel submit events are captured.
Heap
Analytics Pricing based on number of events, not number of
users/sessions. Free tier available with 20 million events per
Google
month.
Analytics
Snowplow
Segment
Tools Overview - Heap Analytics
Retroactive analytics based on events capturing and
defining the events later. Pageviews, clicks, change and
Mixpanel submit events are captured, as well as “first touch” and “last
Heap touch” properties for each event.
Analytics
Pricing based on number of sessions, not number of events.
Google
Free tier available up to 5000 sessions/month.
Analytics
Snowplow
Segment
Google Analytics
Classic analytics based on pageviews. Good at campaign
measurement and tie-in with rest of the Google Suite (Ads,
Mixpanel etc.).
Heap
Analytics Pricing based on number of hits (events), most people use
free tier. Most products will hit the free tier cap of 10M
Google
hits/month/account.
Analytics
Snowplow
Segment
Tools Overview - Snowplow
Classic analytics based on predefined-events collection, but
without a frontend UI for users to do analysis. Good for
Mixpanel organisations who have a data warehouse setup (or want to
Heap create one) and will visualise their combined data using
Analytics other means.
Google
Pricing (for Insights) based on number of events, no free tier.
Analytics
However, the event collection is open sourced and can
Snowplow therefore be implemented with no external costs.
Segment
Tools Overview - Segment
Classic analytics based on predefined-events collection, as
part of their data pipeline packaging (Customer Data
Mixpanel Infrastructure). More oriented towards organisations who
Heap want to package data collection together with multiple
Analytics sources and destinations, but can be used standalone for
collection too.
Google
Analytics
Pricing based on number of Monthly Active Users, with a free
Snowplow tier up to 1000 MTU.
Segment
Tools Overview - Summary
Key Takeaway: Every tool is different.

Each tool carries its own set of advantages and


disadvantages. The organisation choosing needs to weigh
their own requirements against these to make an informed
decision!

There are also plenty here not mentioned in detail:


Amplitude, Chartbeat, AT Internet, Quantcast, Simple
Analytics, Webtrekk, AT Internet, Webtrends, Adobe
Analytics...
How do I pick the right
tool for my business?
Requirements Gathering
How do we determine the right tool for our needs?
“Requirements Gathering is
“
about asking every
stakeholder what they
want, but finding out what
they really can’t live
without”
Introduction

- Usually done in software development by a


Requirements Engineer (RE); role of RE can be
adopted by any project lead
- Should be done at the beginning of any project to
determine the scope of the project and how to define
when the project is “done”
- Multiple formats and processes are possible, output is
always a requirements specification document
Process

1) Gather stakeholders into separate groups


a) Marketing, Operations (Sales, Support),
Management, etc.
2) Ask for main pain points
a) Separate per stakeholder group but see if overlaps
exist (those overlapping are the most important)
3) Ask exploratory questions to determine use cases
a) e.g. “how would analytics help you to solve the issue
you described?”
4) Build feature list from use cases
a) Rank each feature (e.g. using MoSCoW)

Use the ranked feature list as the basis for


analysing your tool choices
MoSCoW
In Scope Out of Scope
(for this timeframe) (for this timeframe)

Must Have Won’t Have

Typically no
more than 60%
effort

Should Have

Could Have

Typically around
20% effort
What are your biggest
pain points in analytics?
Write them down and see if the
toolset you have addresses these
pain points.
“
“Eliminate most tools from
your long-list by filtering
out the most important
criteria first”
Requirements vs. Tool Comparison
Tool Feature Feature Feature Pricing Overall
X Y Z Fit

Tool 1 yes no yes low medium

Tool 2 yes yes no high medium

Tool 3 no yes yes medium high

Tool 4 no no yes medium low

... ... ... ... ... ...


Tool Comparison Example

Key Requirement 1: Retroactive event collection is


most important for my business.

Tool Segmentat Custom Dashboar Pricing Overa


ion Data ds ll Fit
Properties

Amplitude yes yes yes medium medium

Heap yes yes yes medium high


Analytics

Mixpanel yes yes yes high medium


Lesson Recap
1. Requirements Analysis is the most important
step in the tool evaluation process
2. There will always be a “bigger and better” tool on
the market - don’t let yourself or your team get
distracted by shiny new things
3. Choosing the tool that is right for your
business is more important than getting
something implemented quickly that offers little
long-term value
Assignment

Building on the case study from last


lesson, we now have to outline the
business use cases for our analytics tool
assessment and make a decision.
Lesson Resources
- Article comparing Heap and Mixpanel (and
Oribi)
- Tool Comparison Matrix Template
- Wikipedia Article on MoSCoW method

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