Analytics Tool

Business Idea: Build An Analytics Tool in 2024

Updated: July 7th, 2024

Avg Monthly Revenue
$170K
Avg Startup Costs
$12.7K
Score
80
Avg Revenue
Min Revenue
$20/month
Max Revenue
$1.5M/month
Avg Days To Build
135 days

Analytics tools are software or apps that help people to make data-driven decisions. They do this by providing users with the ability to access, visualize, and analyze the data.

If you have strong technical skills, then this could be a profitable business idea for you.

QlikView is one of the best Self-Service Business Intelligence, Data Visualization, and Data Analytics tool. In 2022, QlikView generates $750M in revenue.

With the rise of big data, more companies are realizing the importance of data and are looking for ways to make use of it.

Building an analytics tool is a great business idea because it's a tool that can be used by businesses of all sizes. Small businesses can use it to make better decisions about their operations, while larger businesses can use it to track and improve their performance.

Revenue & Profitability

How much do analytics tools make?

Startup Costs

How much does it cost to build an analytics tool?

  • It can cost as low as $100 to build an analytics tool.
  • It can cost as high as $600,000 to build an analytics tool.

Learn more about the costs of an analytics tool.

Examples Of Successful Analytics Tools

Successful analytics tool businesses and case studies

TapResearch generates roughly $1.5M in revenue per month through their Sample and Insights platforms, which allow market researchers to access survey respondents they need and make fast and easy decisions through a highly scalable respondent network that delivers surveys to hundreds of millions of people.

$1.5M Monthly Revenue
Read by 9,619 founders

Plausible Analytics, a privacy-friendly web analytics tool, reached $4,557 MRR and 743 paying subscribers by focusing on content marketing and engaging relevant communities, rather than paid advertising, while positioning itself as a lightweight, cookie-free and affordable alternative to Google Analytics.

$100K Monthly Revenue
Read by 9,997 founders

See full list of successful analytics tools.