#84 The future of product analytics tools

The Measure Pod

Full show notes, transcript and (NEW!) AI chatbot - https://bit.ly/3QXO2Ip.

[00:00:00] Intro.
[00:01:35] Future of product analytics tools.
[00:03:33] Product analytics toolset changes.
[00:07:40] Product-led growth.
[00:10:35] The next evolution in analytics.
[00:12:07] Google's dominance in analytics.
[00:16:00] The cost models of event based tracking.
[00:19:36] Pattern matching and data analysis.
[00:22:24] Using one platform for efficiency.
[00:24:24] Data collection and tool diversity.
[00:27:14] Platforms should bring things together.
[00:30:47] Escalating costs of these products.
[00:32:09] Google's strategy with BigQuery.
[00:35:30] Moving to first party data.
[00:37:08] Difficulties with product managers.
[00:41:05] Self-building or self-implementing analytics.
[00:43:10] Funnel vs. Sankey diagrams.
[00:45:59] The growth of event tracking.

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Episode Summary:

Join Dan, Dara and Bhav discuss the future of product analytics tools and the intersection between product analytics and marketing analytics. Gain insights into the changing landscape of analytics tools, the challenges and complexities of product analytics, and the potential impact of Google Analytics 4 (GA4) on the market. This episode they also discuss the importance of data collection, the benefits of using one platform for all needs, and the potential future of analytics tools with advancements in machine learning and cloud integrations.

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Quotes of the Episode:

"I think as an industry, we're getting smarter as a collective, you know, marketers and analysts are getting smarter, but maybe budgets haven't improved as much to have a data science team or a data engineer, for example, to manage all these pipelines." - Dan

"But there's something deep down inside me that believes that they're probably going after the Amazon market share." - Bhav

"I was always told that there's no such thing as a funnel, it's a pretzel, users don't act in straight lines. But the funnels are still really useful" - Dan

"Sankey diagrams are horrible because they look horrible, they're not very actionable" - Bhav

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About The Measure Pod:

The Measure Pod is a weekly podcast hosted by veteran practitioners of the marketing and product analytics industry. Join Dan and Dara from Measurelab, Bhav from CRAP Talks and the occasional guest on their quest to make sense of the analytics industry, and have some fun along the way.

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