10 Analytics Tool Success Stories [2024]
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.
In this list, you'll find real-world analytics tool success stories and very profitable examples of starting a analytics tool that makes money.
1. Tap Research ($18M/year)
Aaron Platshon, the co-founder and CEO of TapResearch, came up with the idea for the business after encountering frustrating experiences trying to conduct consumer research for his previous startup, Wheelz. He realized there was a need for a platform that would make it easy for anyone to access valuable consumer insights, leading him to create TapResearch. Today, the company generates roughly $1.5 million in revenue each month by delivering over 1 million surveys for hundreds of clients.
How much money it makes: $18M/year
How many people on the team: 20
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.
2. Plausible Analytics ($1.2M/year)
Both founders had similar experiences with Google and its products. They went from big fans, using several of their tools for many hours every day, loving them and recommending them to my family and friends, to becoming more aware of Google’s size, its business model, and how their dominance negatively impacts the web.
How much money it makes: $1.2M/year
How many people on the team: 0
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.
3. Songstats ($828K/year)
Oskar Eichler, co-founder of Songstats, came up with the idea for his business while working as a label manager and DJ in Shanghai. Being involved in the music industry, he recognized the value of data analytics for artists and record labels and wanted to provide a platform that aggregated insights across various music services. After teaming up with his co-founders, they built Songstats and now have over 6,000 customers generating almost $1 million in annual recurring revenue.
How much money it makes: $828K/year
How much did it cost to start: $400K
How many people on the team: 8
Songstats is a music data analytics SaaS platform that aggregates insights across 14 different music services, approaching $1 million in annual recurring revenue and growing its team of music lovers, ultimate frisbee players, and close friends that came together in Bali, Indonesia with a shared vision of launching their startup.
4. Analyzify ($144K/year)
DataPack, the founder's productized offer for data-analytics-related projects, had received too many requests from Shopify stores. So they decided to create a standalone product for the Shopify market.
How much money it makes: $144K/year
How much did it cost to start: $6K
How many people on the team: 3
Analyzify.app is a Shopify app that helps enable accurate and reliable data tracking and generates $12K+/month with over 350 stores empowered, thanks to a freemium version on YouTube and exceptional customer support.
5. Statful ($102K/year)
Statful was initially developed by Mindera, a tech services company, to meet their own need for a monitoring tool. They wanted a tool that could communicate what was happening in their applications to both developers and businesses. They found that existing tools in the market were either too expensive or required extensive deployment and maintenance. This led them to create Statful, a customizable monitoring platform that provides real-time data and flexibility for developers, operations, and business teams. Despite minimal investment in marketing and sales, Statful has gained six customers from various industries and reached an MRR of approximately $10,000.
How much money it makes: $102K/year
How much did it cost to start: $250K
How many people on the team: 5
Statful, a monitoring platform to track any type of metric, managed to get six customers and reach an MRR of approximately $10,000 without any real investments in marketing and sales.
6. CPV Lab Pro ($84K/year)
Julia Draghici joined CPV Lab after it was already started by her husband and another partner. The idea for the performance marketing tracking platform came from the need to simplify their own work as affiliate marketers. They realized that there was a demand for such a tool and decided to develop it further, eventually growing the business to $50K in revenue within the first year.
How much money it makes: $84K/year
How much did it cost to start: $40K
How many people on the team: 4
CPV Lab is a performance marketing tracking platform for affiliate marketers that grew to $50k in revenue in the first year, has over 1500 users and 10% month-to-month growth through organic traffic, and offers tools to track and optimize multi-channel marketing campaigns for better performance.
7. Treblle ($60K/year)
Vedran, a developer with years of experience, came up with the idea for Treblle while running a development agency. Frustrated with the time-consuming tasks of providing integration support and writing API documentation, Vedran saw a need for a tool that would streamline these processes. After months of development and testing, Treblle was born and quickly gained traction among clients and developers worldwide. With a seed investment of $1.4 million and over 200 customers, Treblle is poised for future growth and success.
How much money it makes: $60K/year
How many people on the team: 2
Treblle is an API management tool that provides real-time API monitoring; with 200 clients to date and a Seed investment round that raised $1.4 million, Treblle is providing developers everywhere with a solution to API discrepancies.
8. WebMaxy ($12K/year)
Anand Mahajan, the CEO of a technology development company, noticed a common pain point among entrepreneurs - the lack of affordable visitor tracking and engagement solutions. With a vision to help brands with a robust yet affordable solution, he started WebMaxy in 2022. After conducting thorough research and statistical study, he launched WebMaxy Analyzer, a user behavior analytical tool that offers features like live session recordings, heatmaps, surveys & polls, feedback, and more. Since its launch, WebMaxy has attracted more than 500 clients and gained popularity for its accurate user insights and unparalleled customer support. The future looks promising for WebMaxy as it plans to launch more digital solutions to help businesses drive growth.
How much money it makes: $12K/year
How many people on the team: 0
WebMaxy is an affordable set of tools for businesses, including WebMaxy Analyzer, WebMaxy Survey, and WebMaxy Growth, that help analyze and analyze user behavior, drive growth, and enhance business strategies, with over 500 clients in the industry as of now.
9. Ghostboard ($5.4K/year)
David Burgos, a full-stack developer from Spain, came up with the idea for Ghostboard after migrating his blog from WordPress to Ghost and realizing that he had no stats. Unsatisfied with existing analytics tools, he decided to build his own analytics platform specifically for Ghost blogs.
How much money it makes: $5.4K/year
How much did it cost to start: $200
How many people on the team: 0
Ghostboard is a GDPR-ready analytics tool for Ghost bloggers that achieved an MRR of $450, without spending any money on ads, and plans to focus on marketing and add more open-source projects for the future.
10. Beam Analytics ($240/year)
JR and Leng came up with the idea for Beam Analytics when they saw that Google Analytics was deemed not GDPR compliant. They wanted to create an affordable alternative that prioritized GDPR compliance and user privacy while offering valuable web analytics. After doing extensive research and drafting a product requirement, they launched Beam in January 2023 and have been steadily attracting and retaining customers through social media, blog posts, and partnerships.
How much money it makes: $240/year
How much did it cost to start: $3.5K
How many people on the team: 0
Beam Analytics offers GDPR-compliant web analytics including funnel analysis, cohort retention, and custom event tracking, with a generous free tier and pricing starting at just $11/month, attracting over 100 users within two weeks of launching.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
