What is amplitude for data analytics?
Amplitude is a real-time data analytics software for both web and mobile, used to analyze visitors’ data behavior. The software enables businesses to understand their customers better, which helps in the growth of the companies using conversion and retention metrics.
Amplitude serves more than 5,000 companies globally. Examples of giant digital companies that use this data analytics software are PayPal, Yellow Pages, Microsoft, Atlassian, Shopify, Twitter, Capital One, etc. Amplitude has observed a growth rate of more than 30% every quarter.
The software analyzes the behavior reports to understand the interaction between the customers and the product. Marketing, product management, and growth teams can use the information to decide the business direction. Understanding the user enables the company to formulate strategies for improving user engagement, revenue, and retention.
Key Features Offered by Amplitude
1. Growth Discovery Engine – Amplitude helps businesses predict behaviors that lead to retention or conversations and drive exponential user growth.
2. Amplitude software gives you real-time analytics such as retention, revenue analysis, funnels, and user segmentation.
3. Microscope enables you to analyze the user’s behavior behind any data point. You can also compare the behavior of the churned users and the engaged ones.
Data Analytics with Amplitude
The software will do the task of collecting and analyzing data. It takes up the raw data and makes it useful for your business. It shows you how the customers who visit your website deal with your products, the customer retention rate, and the purchase funnel, among other features.
Event Segmentation with Amplitude
The Amplitude event segmentation shows you how the customers are handling your products. The software has different segments, and you can choose one that suits your needs.
The event segmentation feature offers the following:
1. Analyzing the events performed over a specific period
2. Analyzing the frequency in which the events occur
3. Identifying the users who trigger some specific events
4. Checking the number of users who are performing specific events in a product
Amplitude Retention Analysis
Retention analysis enables you to understand the number of times a user returns to the product after taking a specific action. The software calculates the retention rate by analyzing the date when the user started the event and when the user returned to that event.
Amplitude User Cohorting
The software enables you to create different cohorts according to their actions. You can group them based on their location, platform, country, and similar behavioral features. Also, you can save the group for more analysis and understand their activities better.
Conclusion
Amplitude is a highly easy-to-use platform that delivers excellent results for businesses. It enables you to analyze the behavior of the users around your products, pick up the best indicators and improve the outcome of your business. It provides both the product and marketing metrics that you need to improve your business.
