Building product analytics vs. buying product analytics

Companies face a dilemma when deciding between building in-house product analytics solutions and purchasing external tools, each option carrying its own set of costs and benefits. Building internally can strain engineering resources and requires ongoing investment in training, support, and maintenance, often detracting focus from core product development. In contrast, modern product analytics software, such as Mixpanel, offers quick implementation, cost savings, and extensive support, alleviating the burden on internal teams and allowing for greater focus on product enhancement. These external tools also provide comprehensive data visualization and connectivity with third-party tools, making them attractive for businesses seeking customizable and efficient analytics solutions. Ultimately, organizations must weigh these factors against their specific needs, but many find that external solutions allow them to concentrate resources on improving their products to better meet customer needs.