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Advantages of analytics platforms

This technology is a perfect merge of key components inherent to BI. Analytics platforms embrace various tools for data integration, gathering, processing, and presentation, helping businesses make more accurate business decisions. This type of software enables companies to integrate their data from multiple data sources, cover the entire data life-cycle, visualize it conveniently, and so on. Thus, let’s take a look at the main benefits of building a data analytics platform.

  • Efficient data management
  • Scalability
  • Actionable insights
  • Better data representation
  • Increased customer loyalty

As you may see, an analytics platform’s advantages can significantly boost the company’s business capabilities and provide a comprehensive overview of its performance. However, the success of an analytics platform heavily depends on its functionality. Thus, proceed to the next section to determine the required feature set to make an analytics platform.

features for the analytics platform

The more thorough is the approach towards the choice of feature set for the analytics platform, the easier the potential users will achieve their goals. Hence, the first step on the path towards building an analytics software is an in-depth analysis of the target audience that will leverage the provided software. It’s desirable to think in terms of the following parameters:

  • type and size of the organizations that will use your software;
  • users needs regarding the set of analytics tools;
  • approximate volume of data within the organizations;
  • type of users (administrators, managers who will have full access to all analytics tools, or users who will view analytics occasionally, etc.);
  • the necessity in collaboration tools, etc.

With a clear picture of your target audience requirements and needs, it’s time to proceed to the next step — analyze the competitors from the market segment you are about to enter. Such an approach will help you understand their weaknesses better, identify missing features, and consider them while developing your product.

Based on our expertise, we offer to look at the list of key features required to create an analytics platform. Mind that the set of web analytics tools of your platform may be extended and adjusted to the needs of your potential target audience.

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