Product Analytics With Qt Insight – Make Business Decisions Based on Real Usage Data
How are critical product-related decisions made at your company? Whilst other areas of business may rely on years of experience, generic data gathered on the way, or even competitor analysis, digging deeper into how your products or digital solutions perform is required in order to optimize the product development lifecycle. Without an understanding of user flows, customer pain points, or the elements going unused, the product development lifecycle can't be fully optimised, leading to wasted time and resources. Sure, you can always conduct endless feedback loops and research surveys, or even interview your customers to understand how they feel about your products, but the results may not be providing you with an unbiased view – not to mention the time it takes to commit to overseeing qualitative research.
So, what's the alternative? Glad you asked! Recognising the importance of usage data, we’ll soon be launching our product analytics solution, Qt Insight. Qt Insight tracks how your products are used, identifies bugs, pain points, and disused elements, allowing you to take the guesswork out of your product development.
Here are 5 key ways a product analytics solution, such as Qt Insight, can make a difference to how business decisions are made at your company.
- Identify real customer pain points
Are you losing customers due to components or paths that make no sense? One of the most fundamental benefits of product analytics is that it helps businesses identify customer pain points. By tracking how customers interact with a product, businesses can identify areas where the product is not meeting their needs, or where their customers are having difficulty using the product. This information can then be used to make improvements that better meet customer needs.
- Improve the product development lifecycle
Product analytics solutions also play a key role in optimizing the entire product development lifecycle by taking the guesswork out of it. It allows businesses to identify areas that need improvement, elements that go unused, helping to prioritize development efforts to address these points. This helps businesses to create better, more intuitive products that are better aligned with customer needs, as well as save time on maintaining components that are not being utilized.
- A/B test elements on your products
Qt Insight lets you test and compare software versions side by side. By being able to compare and benchmark digital elements and components, businesses can identify those that really stand out to customers, perfecting the UI based on genuine preferences instead of intuition or tradition.
- Save money & increase revenue
Let’s not beat around the bush: Product analytics can help businesses increase their revenue, not only by allowing the retirement of certain unpopular elements, but also by identifying areas where they can upsell or cross-sell their products. By understanding how, when, and why customers are using a product, it becomes easier to pick out opportunities to sell additional products or services that complement the customer's existing usage.
- Access usage data and information whenever it suits
Instead of taking time to conduct feedback sessions, getting frustrated over not receiving more than five answers to your survey, or spending money on gift cards, why not just open Qt Insight and take a peek at how your products are performing in each market? Seems like a no-brainer.
To sum it up, product analytics is a powerful solution that can help businesses gain valuable insights into customer behavior, improve their products, and save money.
📈 Interested in trying Qt Insight ahead of its official launch?
📈 Join our beta program & see the benefits of product analytics for yourself!
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