{"id":4776,"date":"2023-01-12T09:00:20","date_gmt":"2023-01-12T07:00:20","guid":{"rendered":"https:\/\/getnave.com\/blog\/?p=4776"},"modified":"2023-03-18T12:04:38","modified_gmt":"2023-03-18T10:04:38","slug":"choosing-an-analytical-tool","status":"publish","type":"post","link":"https:\/\/getnave.com\/blog\/choosing-an-analytical-tool\/","title":{"rendered":"5 Things to Look for When You&#8217;re Choosing an Analytical Tool"},"content":{"rendered":"<div class=\"cf-14869-area-150045\"><\/div>\n<p><em>A reliable analytical tool is a must for every project manager. But it\u2019s not always obvious what factors you need to consider. Let\u2019s take a look at several key criteria you need from your tool to be able to achieve your goals in the long run.<\/em><\/p>\n<p>\u201cHow do I know which analytical tool to choose?\u201d<\/p>\n<p>You\u2019ve probably wondered this at some point \u2013 maybe you\u2019re even searching right now. I had a client ask me this question just the other day, in fact.<\/p>\n<p><strong>The right analytical tool can make all the difference in your team\u2019s performance.<\/strong><\/p>\n<p>And it\u2019s not all just a matter of opinion, either.<\/p>\n<p>First, though, there\u2019s an important step you should take before you even begin your research!<\/p>\n<h2>Why You Need a Strategy<\/h2>\n<p>As Malcolm Forbes once said, \u201cIf you don\u2019t know what you want to do, it\u2019s harder to do it.\u201d<\/p>\n<p><strong>That\u2019s why you need a strategy before you start looking at different tools and features.<\/strong><\/p>\n<p>Let\u2019s say you\u2019re struggling to deliver on your commitments, and you know that you\u2019re <em>not<\/em> interested in counting story points or hours anymore.<\/p>\n<p>You know that you <em>need<\/em> a data-driven approach that will enable you to make reliable decisions based on your past performance data. You\u2019re exploring the concept of <a href=\"https:\/\/getnave.com\/blog\/probabilistic-forecasting-in-project-management\/\" target=\"_blank\" rel=\"noopener\">probabilistic forecasting<\/a>.<\/p>\n<p>In this case, you\u2019ll know pretty quickly that what you want is a <a href=\"https:\/\/getnave.com\/blog\/monte-carlo-simulation-explained\/\" target=\"_blank\" rel=\"noopener\">Monte Carlo simulation<\/a>. Any tool you choose should therefore include this feature.<\/p>\n<p>If the tool you\u2019re looking at has burndown charts, burnup charts, or anything else focused on time-tracking then you\u2019ll know it\u2019s probably <em>not<\/em> the best tool for your chosen strategy.<\/p>\n<p>Here is another example.<\/p>\n<p>Delivering value to your customers faster boils down to managing the work, not the workers.<\/p>\n<p>It\u2019s a team effort. Therefore, evaluating individuals\u2019 performance is simply irrelevant and even has the potential to derail you from your objectives.<\/p>\n<p>If the tool you\u2019re looking at provides reports based on individuals\u2019 performance, then it\u2019s probably not a good fit for you. At the very least, the tool should include the option to disable that feature.<\/p>\n<p>If not, keep looking.<\/p>\n<p>Strategy comes first. The tools you choose should support your strategy. Having clarity on the long-term goals you strive to achieve will help you narrow down your choices.<\/p>\n<div class=\"cf-14869-area-150047\"><\/div>\n<h2>How to Decide Which Analytical Tool to Choose<\/h2>\n<p>\u201cHow do I decide which analytical tool to choose?\u201d<\/p>\n<p>I gave this question some thought and realized there are several <em>key<\/em> criteria to look for. Let\u2019s explore all of them.<\/p>\n<h3>#1 Effective Onboarding Process<\/h3>\n<p>You need data from your past performance to get <strong>actionable insights<\/strong>. However, without context, your charts are only static images. You have to be able to understand the meaning behind your data.<\/p>\n<p>That\u2019s why your tool should include an effective onboarding process that will help you get started quickly.<\/p>\n<p>The process should make it easy for you to comprehend how the tool works, what concepts does it implement, and how to read the data that you\u2019re seeing presented.<\/p>\n<h3>#2 Data Integrity<\/h3>\n<p>Your teams will only want to use a tool if they trust the data.<\/p>\n<p>If it\u2019s hard to get solid numbers that don\u2019t change and there isn\u2019t confidence in the data, that\u2019s when teams tend to not rely on it, and eventually abandon it.<\/p>\n<p>If there are two people looking at the same data, having the same configuration and they\u2019re both seeing different results, that\u2019s certainly a red flag.<\/p>\n<p>Always look for a tool that\u2019s reliable, have good data integrity, is easy to use and that teams would want to use.<\/p>\n<h3>#3 Community<\/h3>\n<p>You know how it\u2019s easier to learn about something when you have someone else to go to for questions?<\/p>\n<p>A great community will help you level up your skills and knowledge because you can start a conversation any time you\u2019re confused or are experiencing a challenge (especially for very specific situations that pop up).<\/p>\n<p>If the brand you\u2019re considering doesn\u2019t have a community or doesn\u2019t provide access to their support team <em>(or even better, their dev team!)<\/em>, you\u2019re most likely to drop out.<\/p>\n<p>There must be a lot of goodwill and the team behind the brand should be responsive in terms of improving the tool.<\/p>\n<p>Bonus points if the package also includes other knowledge components like Q&amp;A sessions and masterclasses. These knowledge components, all together, can <em>massively<\/em> increase the perceived value of the tool \u2013 making your investment go further.<\/p>\n<p>And speaking of \u201cinvestment\u201d \u2026<\/p>\n<h3>#4 Reasonable Pricing<\/h3>\n<p>When it comes to pricing, the tool should be predictable and scalable.<\/p>\n<p>Look into how the pricing works: is it per seat? Or maybe it\u2019s uses a different pricing model \u2013 let\u2019s say a dashboard.<\/p>\n<p><strong>You want the pricing that you pay to be aligned with the value that you receive.<\/strong> That\u2019s why I don\u2019t recommend you go with a pricing plan that\u2019s per user \u2013 because even though you\u2019re paying more to have more people look at your data, it doesn\u2019t necessarily mean you will get more value.<\/p>\n<p>On the other hand, a pricing plan that\u2019s based on the number of boards you analyze, <em>(and not on the number of people you add!)<\/em> allows you to make a cost effective, low-risk decision that you can scale once you get it integrated within your organization.<\/p>\n<h3>#5 Bonus: An Agile Roadmap<\/h3>\n<p>While not essential, it\u2019s awesome if you can find a tool provider who also shares an agile roadmap with their customers <em>(especially if your own goal is also to improve your business agility!)<\/em>.<\/p>\n<p>The roadmap should include their goals for improvement, any features they plan to release soon, response to recurring feedback from their customer base, and other helpful updates that keep you in the loop with their vision and mission.<\/p>\n<p>The more the provider shares your values and approach, and the more transparent they are about their own process, the greater your long-term relationship will be and the more value you will get out of it.<\/p>\n<p>And if you need something further to consider, Nave offers all the criteria we\u2019ve discussed here \u2013 and it\u2019s helped managers around the world use data-driven insights to deliver value to their customers faster, meet their commitments and continuously improve their systems.<\/p>\n<p><a href=\"https:\/\/getnave.com\/kanban-dashboards?utm_source=blog&amp;utm_medium=post&amp;utm_campaign=choosing-an-analytical-tool\" target=\"_blank\" rel=\"noopener\">It\u2019s free for the first 14 days, no strings attached, so you can try it out before coming to any final decision<\/a> \u2192<\/p>\n<div class=\"cf-14869-area-125960\"><\/div>\n<p>I hope this article gave you a more specific idea of what to look for in an analytical tool \u2013 feel free to use it as a reference going forward! And if you found it helpful, please share it with friends and colleagues on your favorite social media platforms.<\/p>\n<p>Thanks as always for reading, and I look forward to seeing you again next week, same time and place, for more managerial insights. Bye for now!<\/p>\n<div class=\"cf-14869-area-150046\"><\/div>\n<div style='text-align:left' class='yasr-auto-insert-visitor'><\/div>","protected":false},"excerpt":{"rendered":"<p>A reliable analytical tool is a must for every project manager. But it\u2019s not always obvious what factors you need to consider. Let\u2019s take a look at several key criteria you need from your tool to be able to achieve your goals in the long run. \u201cHow do I know which analytical tool to choose?\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[69,7],"tags":[],"class_list":["post-4776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-process-improvement","category-project-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Things to Look for When You&#039;re Choosing an Analytical Tool | Nave<\/title>\n<meta name=\"description\" content=\"The right analytical tool can make all the difference for your improvement initiative in the long run. 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