Deciding the most optimal data analytics tool for startups

Abstract: Choosing a data collection and analytics tool is no easy task. There are numerous tools available and no tool fits all. The choice of the tool depends on various factors and especially what type of organization and product the tool will be used for. Startups generally have less resources than established companies and the set of tools they can select therefore is limited. Therefore, the study has focused on finding and determining which tool is best suited for a startup. The study has chosen five criterias to evaluate a selected number of tools; setup, features, usability, privacy and cost. The criterias have been selected based on interviews, research and theoretical background. The study’s practical work has been performed at a startup in order to get real-world insight in how the tools operate and function. The tools evaluated are; Mixpanel, Amazon Pinpoint, and Google Sheets. The tools were selected based on answers from questionnaires, interviews and research. The result of the study shows that out of the three tools evaluated, Mixpanel is regarded as the most optimal tool for startups. Mixpanel is cost-effective, easy to set up, offers multiple features and is overall a user-friendly tool. It especially allows the company to have a transparent and strong privacy aspect. Allowing full control of the data collected and analyzed. However, what the study also concluded is that no specific tool is always best for everyone and the organizations should always understand their needs in order to pick the most suitable tool.