Achieving digital success is a do-or-die challenge for businesses in today’s world. The vast majority of organizations know they need a better understanding of their users’ behavior to move fast and build products their customers want, but they’re stalled on the next step. Indeed, 94% of business leaders say that understanding user behavior is a priority, but 71% are unsure of how to do so.
These companies need a new set of tools to help them understand, attract, and retain customers. They need product intelligence.
Our research finds that businesses using product intelligence tools are 5.5 times more likely to see >25% revenue growth year over year than those who aren’t using it.
A Lack of Data Inhibits Teams
- Minimal access to the right toolsOnly 20% of product teams have access to product intelligence tools with behavioral insights.
- Rampant delays69% of teams must wait a few days to a week to answer simple questions about user behavior.
- Compromised decisions59% of businesses rely on instinct when they can’t access behavioral insights right away.