Real-time data analytics

Real-time data analytics for quick emergence of new product insights

The mobile app industry is a dynamic and rapidly evolving sector that is expected to continue until 2024. To deal with the recurring changes and challenges, you must always be aware of what is going on within your app. That is exactly what we get from cutting-edge analytics software.

For those who are unfamiliar with the term, please define "real-time analytics."

Gartner defines "real-time analytics" as analysis that occurs within a few seconds of receiving new data. There are two types of real-time analytics, according to Gartner:

  • On-demand real-time analytics are only available when a user initiates a query.

  • With continuous real-time analytics, data is analyzed all the time, and users are notified when predefined events happen.

Real-time analytics applications that are effective include:

  • Keep an eye on how well your app works and let you know if there are any problems before a lot of users are affected.

  • If you know about any sudden drops in customer retention or conversion rates, you can avoid losing money and getting bad feedback from customers.

  • Distribute information as soon as a new version is released so that bugs can be fixed and improvements can be made.

Why are real-time analytics so important?

You must act quickly because time is running out.

If your application contains a bug, you won't have much time to fix it before it causes actual harm to users. You must be notified immediately if the metrics you are monitoring change significantly.

Real-time analytics can be your most effective line of defense against unexpected retention drops, bugs, and system crashes.

You can protect your business by resolving app usability and performance issues as soon as they are discovered using real-time alerts and data. When it comes to monitoring the health of your app, you must have real-time data and in-depth analytics at your disposal.

You must think quickly and clearly.

No mobile app development team enjoys making difficult decisions. App behavior in the wild is unpredictable. You can't be sure which changes to your app's code or user interface will produce the desired results. Because it is impossible to predict the future, knowing what is happening right now is critical.

Real-time, self-updating analytics are useful. These tools not only provide real-time data, but they also provide instant, automated analysis of that data for any purpose, such as attribution source identification or conversion funnel design.

Dashboards that display the most recent information are critical to your ability to make sound decisions quickly. You will not be forced to make educated guesses under duress.

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You must be aware of what your users are doing right now.

Users of your mobile application will most likely surprise you with their strange behavior. The only way to catch up with them is to know what they're doing in your app right now.

This level of insight can only be obtained through continuous user data collection and statistical analysis, which real-time analytics excels at.

Which key performance indicators (KPIs) must be monitored continuously?

There are key performance indicators (KPIs) that must be monitored immediately. It will be too late to address any identified issues if these key performance indicators are not analyzed and reported on in a timely manner. The following are some of the most effective key performance indicators that can be tracked in real time.

Crashing

What are your plans if your app suddenly stops working? If your answer to the question "where are you?" was not "at my computer, fixing it," you responded incorrectly. The question is how to effectively and efficiently identify the cause of application crashes and fix them. Real-time analytics tools must be included in your crash plan because they are constantly collecting and processing data. When you check your dashboard, you'll see an alert about the bug as well as all the information you need to track it down and eliminate it, such as which screens are affected, how many users are affected, and so on. The best analytics platforms integrate with your existing tools to deliver real-time alerts in the format you prefer (email, SMS, Slack message, or a smack on the head) (well, maybe someday).

Non Responding

ANRs (App Not Responding) are among the most aggravating app performance issues, as they occur when the app becomes unresponsive to the user's gestures and other interactions. ANRs should be reported as soon as they occur because they can occur for a variety of reasons, some of which may not be the app's fault. ANRs, like crashed sessions, must be detected before a large number of users are affected. Real-time analytics will help you find problems early, before they get worse, and give you the information you need to come up with a quick but effective solution.

Bounce Rate

If you open and close the app in less than 20 seconds, you have effectively wasted your time. If users frequently abandon your site after a short period of time, it could be because of a performance or usability issue that is frustrating them. If you want to keep your app's retention rates as high as possible, you should monitor quick abandons around the clock, especially after a new release.

Unresponsive gestures.

Unresponsive gestures cause usability issues because users expect the application to behave in a certain way but it does not. Users may abandon a conversion funnel rather than converting if, for example, they try to return to the previous screen by repeatedly swiping left but are unable to do so due to the absence of the corresponding navigation element. They can degrade the user experience, lead to customers abandoning sales funnels, and result in dissatisfied customers leaving negative reviews. Unresponsive gestures reported by users, like bugs, should be investigated immediately.

Ruffle.

Although app going through ruffle is one of the most important metrics to monitor, it's never a pretty sight, especially in industries with high churn rates.

Observing sudden increases in the daily churn rate is an important indicator of impending problems. A higher-than-usual daily churn rate could indicate the emergence of a brand-new issue that is causing users to leave. If you notice a higher churn rate following the release of a new version, for example, you may want to look into the user experience to see if it needs to be tweaked. Examine the data in real time to see if your churn rate varies by location, time of day, or weekday. If you can track these changes in real time and get alerts when they go over a certain threshold, you can take preventative steps to keep more customers and keep them from leaving.

In App Feature

Your app most likely contains features and events that directly affect user engagement and retention. If the frequency of these app events suddenly decreases or increases, you must be notified immediately. Users and events can be tracked in real time, and you can get instant updates on the status of your key performance indicators (KPIs). As a result, if the actual number is lower, you can make adjustments until you achieve the desired result. An increase in "cancel payment" or "logout" events could be due to a UX issue, for example. There might be a problem that is making an unusually high number of sessions end early.

Conversion Funnel Step Departure Rate.

Obtaining a customer results in financial gain. You shouldn't rely on weekly or monthly trends to determine whether your conversion funnels are losing too many users. Using real-time analytics, you can track spikes in conversion funnel abandonment on specific pages or stages of your website as they happen. You should keep a close eye on the conversion funnels that are most important to your company, such as those that lead to account creation, free-to-premium upgrades, and successful payments. Indeed, software like Appsee allows you to replay the user's session and determine exactly what caused them to exit the conversion funnel.

Conclusion

While birthday balloons and cake are always welcome, system failures and irate customers are not. Real-time analytics tools alert you when your key performance indicators change, allowing you to avoid unpleasant surprises. By processing numbers, they work tirelessly to ensure that you always have easy access to clean, interpretable data. If you use real-time analytics to improve your data analysis strategy in real time, you and your team will be better ready for any problem that might come up.

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