Data is the biggest market right now and has excellent potential to grow in the coming few decades. With digitalisation, data will become the primary market in every sector. Markets and business corporations survive on their data and research of products, clients and competitors. Ground research is fundamental in any market analysis and is generally is a considerable time taking procedure. There are huge piles of data files, and all of them need to compile into one. Then you need to feed all of this data into an electronic system; this was the case in the early 2000s. Now the internet and computing systems have become very complex and sophisticated. They allow people to feed data into already created applications which do the computations for you. There are hundreds of such apps and websites which offer marketing analysis tools to make your job easier. These tools will create charts, infographics and plot trends on different well-labelled graphs. There are different types of marketing analysis tools which are used in different kinds of situations from calculating the risk of a new sale to estimating the demand and purchasing power of clients in a particular geographical market. Here are some cool marketing analysis tools for digital junkies.
Mixpanel – Advanced Web and Mobile Analytics
Mixpanel works with different algorithms to equate consumer behaviour in order to understand trends. It records how consumers use various applications and websites which can be monitored using a mobile app or logging into your webpage. Mixpanel proves to be easy to use for those who are not familiar with coding and software as it runs on a single code and is relatively easy to grasp. Anyone can gain access to mixpanel via a monthly subscription which is based on how much data you want to mine.
Formisimo – Insight into Web Form Abandonment
Formisimo provides its users with real-time statistics of how many individuals are leaving online forms incomplete. It checks a users interaction level and notes how many of them fill the form. This data helps companies to understand what is forcing customers to leave the way incomplete, and they can also get insight into what is creating difficulty for their target audience. Once this is recorded, they can work on formulating a new strategy for better forms with a change in language constriction and ease of reading. Formisimo is available in the form of different packages depending upon the user level.
BuzzSumo – Laser-Focused Content/Social Analysis
Social media is the biggest marketing platform right now, and it has become more than necessary to have proper content for advertising a product. BuzzSumo helps to identify different social media trends and flow of content so that you can capitalise on topics related to your industry such as personalized wedding glasses. It is also equipped with Search Engine Optimisation (SEO) tools and makes it easy to convert the data on to a spreadsheet. The packages available are pro, agency and enterprise.