Product
Product Analytics
Definition of
Product analytics is the process of analyzing data to gain insights into how customers interact with a product or service. It involves collecting and analyzing data from various sources such as user behavior, demographics, and user feedback. These insights can help businesses make data-driven decisions to improve their products and services. For instance, an e-commerce company can use product analytics to understand which products are frequently viewed, added to the cart, and purchased. With this information, the company can optimize its product pages, pricing strategy, and marketing campaigns to increase sales. Similarly, a software company can use product analytics to identify features that users find challenging and improve the user experience. In conclusion, product analytics is a valuable tool for businesses that want to optimize their products and services to meet customer needs and increase revenue.
A type of business intelligence software that captures and identifies digital product usage, events triggered, and other user behavior.
