May 2021

One of the most interesting features of technology is its power to persuade people and change their perception. We, humans, are traders by birth, and with technology at our feet, the face of the world has significantly changed. And more so, it has changed the way we value things. Take for instance this tweet by Twitter CEO Jack Dorsery. His tweet was put up on sale on Valuables by Cent, a portal that enables Twitter users to bid and buy tweets in the form of Non-Fungible Tokens (NFTs). ​

This article will enlighten you about all this and more.

What are NFTs

Non Fungible Tokens are digital assets that are unique and cannot be directly interchanged with other assets. Every NFT, which is sort of like an autographed item, is made of metadata, which gives them their individuality. Its digital content is linked to the blockchain. NFTs are a form of cryptocurrency like Bitcoin, where instead of money, they host assets like tweet, text, image, MP3, artwork, domain names, trading cards, game items, etc. It all began in 2017, when CryptoPunks, developed by Larva Labs, released one of the first NFTs. It consisted of around 10,000 collectables which were unique and based on the Ethereum blockchain.

NFT tokens can be transferred between various decentralized applications. Creating the tokens depends on the ERC-721, ERC-1155 and a few other standards. ERC-721 is a standard that represents the ownership of a unique NFT. It is a smart contract standard where developers follow the same template or format, which makes the code more universal. The ERC-1155 allows the creation of fungible, semi-fungible and non-fungible tokens in one single token standard. This changes the face of trade and recolonizes the financial segment by giving people a great sense of digital item ownership. 

Why NFTs are so popular?

Although this concept is just in its nascent stages, in 2018 the market cap for global transactions of NFTs was $40.96, and in 2020 it grew manifold from $141.56 million (2019) to $338.04 million in 2020. Token-based sales have reached a new height of success in the recent past. And the launch of the NFT marketplace is making dreams come true for many. The number of active buyers in 2020, has increased by 57 percent, from 51,861 in 2018. The year 2021, is a year where almost everyone is talking about NFTs. OpenSea, a peer-to-peer marketplace for rare digital items and crypto collectables, recorded a monthly sale of over $95 million. And the trading volume on Ethereum amounted to more than $400 million. The icing on the cake is, for the consequent trades, the creator gets a royalty payment. So, what makes NFT special?

• Unique and authentic 

As information about the NFT and the owner can be easily verified, it makes them unique. This is by far the most crucial feature of NFT where information is secure and legitimate.

• Unified

Most tokens cannot be divided into smaller units. It is like a mark on the stone. However, if you can buy the complete cost of the item from the owner, maybe then.

• Easy to work with

Marketplaces are a hub where you can buy and sell NFTs. Within a matter of minutes, you can create a profile. Buying and biding operations are pretty simple. Not just that, due to their versatile nature, NFTs can be traded on different crypto markets. The trading opportunities are truly beneficial.

• Open to all

Owing to this instant tradability nature, it can act as a host to a variety of audience, enhancing its liquidity.

• Transparency

All the records pertaining to the trade – transfer, token issuance, and other activities can be authenticated before getting into it.

NFT Marketplace, now what is that?

In literal terms, a market is a place, area, composition of systems, institutions, social relations, etc., where people can sell and purchase good or where parties engage in exchange. Taking inspiration from this concept are NFT Marketplaces. It is a platform for one all – creators, artists, and buyers. This software allows people to trade in NFTs and crypto collectables. The crypto assets here come with digital ownership. Some of the top NFT Marketplaces are OpenSea, Rarible, KnownOrigin, SuperRare and AtomicMarket.

Attributes that make for a great marketplace 

• Less traffic congestion and a high level of security. 
• Provide secure transactions.
• User-friendly.
• Seamless wallet integration.
• An authentic and long list of digital items and sections to explore. 
• Nominal transaction fees.
• Elegant and aesthetic graphics.
• Quick transaction.

How does an NFT Marketplace work?

Technically, most marketplaces function in the same way. However, their uniqueness is what gives them an edge over others. Here is how the client-side of the NFT Marketplace works:

• The user creates an account on their favoured NFT platform.
• Before stepping forward, the user needs to create a digital wallet to store the NFTs.
• After deciding their niche, the user then uploads their assets and showcase their work. On the other hand, the buyers put a pin on their preferred item.  
• Once the item is listed for sale, they can be bought it at a fixed price or opt for an auction. 
• As soon as the item clears moderation, people can bid or buy the item. And the owner can accept bids. 
• The transaction is closed when the owner and seller come to terms. 
• The platform will screen the deal and transfer the digital assets to the buyer and funds to the owner.

How to create a marketplace?

The foundation of the marketplace strengthens once you have decided on the domains that will feature on your storefront. One should also understand why they are developing the platform, who are its potential buyers and seller, what problems will the platform solve and the desired outcome.

• Smart contracts 

A marketplace is known for its smart contracts, which is a self-executing contract. As each token is unique, subsequent metadata is recorded in its smart contract. So, if you wish to create a marketplace, you ought to create a valid smart contract that admins the deals between buyers and sellers.

• Storefront

In simple terms, a storefront is like a shopfront or entrance to your store. It essentially displays your USP, something that will give an overview to your customers. The storefront should offer everything that the user is looking for.

• Explore and trade

These options are the gateway to any transaction. This panel should contain information on all the domain-wise collectables. Allowing the user to sort these items at their convenience  is a great feature. Bid, sell and auction are the basic features at the offing. Users should also know the bids’ current status.

• Ranking, stats and activities 

Give an overview of how the collectables are functioning. Analyze their smart contracts and read the data on the blockchain as to how much worth of sales is being made. It will give an idea to the user of how the projects are working and which collectable to invest in. In essence, provide the volume, average price, and other crucial stats.

• The NFT Bible

OpenSea, one of the top-ranking NFT marketplace, is known for its NFT bible. Devin Finzer, their CEO and Co-founder has given an in-depth overview of the NFT ecosystem. On the similar lines, if you could provide your research material on NFTs and its aspects, users will find it appealing.

• Wallet

It is an essential feature that allows the user to store, send and receive NFTs. Allowing the user to integrate their preferred wallet, seems to be an easy task. MetaMask is one of the favoured wallets and the oldest in this game. It is flexible has a peerless power browser extension.

• Filters 

To make it easy for the user and profitable for the seller, provide filters. It will help users navigate and select the items. These filters are just like the feature which are available on any other retail app. Filters like highest and lowest price, recently listed and popular items enhance the purchase significantly.

• Create listings

The process of uploading a collectable should be smooth. Include information such as name, description, and tag.

• Help center 

Right from creating an NFT to buying and auctioning it, all the details should be provided to the user. In case of any hindrance, they should be able to contact your effortlessly. Providing in-house articles will make the journey of the user worthwhile.

Technology required to create the marketplace

Storage Platform

• IPFS:  As per their website, they are a peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open. IPFS provide a great file sharing and storing system. It depends on the hashes which can easily be stored on the blockchain. 
• ​Filecon: It is designed to store critical information. It is a decentralized storage network.

NFT Standards:

Apart from the essential ERC 721 and 1155, you will also need:

• ERC-998: It provides a template by which NFTs can own both fungible and non-fungible assets.
• TRC 721: It is completely compatible with ERC 721 and is a set of standard interfaces for using NFT on TRON, which is a blockchain-based decentralized operating system based on a cryptocurrency native to the system network.

Blockchain platforms

Ethereum is the most popular platform for NFT marketplaces. Second is, Tezos. As per their website, they are an open-source blockchain network that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts. Lastly, Flow is also widely used to create a marketplace using Cadence programming language.

Summing up

Love it or hate it, but you can’t ignore NFTs. It is said the current version of NFTs will continue to evolve, and for it, even the sky is not the limit. Although NFTs are now mainstream, it is claimed that they have been around 2012. And since they have grown leaps and bounds. They have gained importance owing to their nature of the options they provide. 

Hope this article has cleared all your doubts. Has it left you curious and wondering ‘how can you set up a marketplace’? Well, don’t worry our team has got you covered. 

You can contact the App Scoop mobile app development team on: 
https://app-scoop.com/contact-us.html

References 

• https://www.leewayhertz.com/develop-nft-marketplace-platform/

• https://opensea.io/blog/guides/non-fungible-tokens/

• https://www.alwin.io/blog/how-to-create-nft-marketplace

• https://www.codica.com/blog/how-to-create-nft-marketplace/

• https://art.art/wp-content/uploads/2021/03/NFT-YEARLY-REPORT-2020.pdf

Research conducted by McKinsey in collaboration with the University of Oxford exudes that more than 45 percent of the large IT projects exceed their original estimate. Almost 17 percent of the project are so bad, that they can easily crumble the organization. And about 7 percent of the projects are handed over time while delivering 56 percent less value than predicted. This means skipping the initial phase of software development leads to great hazards. 

All these can give a hard time to the CEO of the company. While these problems may seem inevitable, there exists a solution. If you commence your project in the right way, the end will be the start of something beautiful. In essence, the success rate can escalate if you begin your project with the discovery phase. This article will throw light on the importance of the discovery phase, activities included in this phase, its deliverables and more. 

What is a discovery phase? 
​
Clarity improves connection and engagement, further strengthening the trust as it provides transparency. The discovery phase does just the same. It provides a foundation for the software development process. And the blueprint it lays down makes the establishment of the project stronger than ever. 

• Questions that should be discussed during this phase.
  ​

1. Motive behind developing the software.
2. Possible target audience.
3. Expectation and impact of the software. 
4. Interface features. 
5. Which technology should be used? 
6. Start and end time of the project. 
7. Platforms that this software will be released on. 
8. Client’s definition of success for this project.

Discovery phase can last somewhere four to eight weeks. Upon the analysis of the gathered information, the team gets an idea of the market, target audience, scope, goal, intention, risk mitigation, rough budget, architecture, and functionality. In this team effort, a lot of brainstorming takes place. Meetings can last up to 2-3 hours. The expert team consists of a business analyst, solution architect, web developer, designer, account manager and team lead.

Why is the discovery phase beneficial for software development? 

The key benefits of going through a discovery phase are immense. This mandatory and crucial step will attract several advantages.

• Provides a clear picture 

What this stage provides is clarity of the scope to the selected team members. When you understand the company’s values you will get a clear idea of why they wish to develop this software. With this identifying the market and target audience, adds to your expertise. This whole process strengthens your vision, provides a roadmap, lays a foundation, and helps you evolve in industry standards and practices.

• Cost optimization 

An in-depth analysis helps you curate a perfect plan and design. In doing so, you will get an idea of an approximate budget that this software needs from ideation to fruition. If the budget falls in your budget slab, then well and good. If not, you can come up with ways to make this project fit your expectation. 

• Risk mitigation 

Taking risks is commendable. But coming up with a plan to avoid risks that will hamper your software’s success is a dream. The discovery phase ultimately helps in reducing the risks as it provides a clear understanding of the goal. The phase reduces the risk of missed deadlines by a whopping 75 percent. This, in turn, will help in cost savings by almost 50 percent.

• Improves your industry expertise

Market research and analysis prepares you for the best. This adds to your advantage by giving you the edge to perform better. As research involves understanding the industry, it strengthens your foundation by bridging the gaps. This phase keeps you on your toes.

Other benefits of the discovery phase are:

• Helps you use time and other resources efficiently.
• Gives you an idea of the launch date.
• All the groundwork pushes you to come up with a striking plan. 
• Gives an idea of how the product will look.
• Gives transparency.
• Builds trust and relationship. 

What if this phase is skipped? 

We have already mentioned the perks of undergoing the discovery phase. However, some wish to skip this phase and directly get to business. Little do they know about what lies on another side of not taking up this phase. Abandoning this phase during software development has the following consequence:

• The project will instantly crumble.
• Time and other resources will be wasted. 
• The project will run in an endless loop. 
• It will fail in meeting the deadline. 
• The stakeholders’ expectations will never be met. 
• The budget will go for a toss.

Actions to be completed during the discovery phase

Working meticulously in this phase makes the rest a cakewalk. Come with a solid process to ace this phase. Not a lot of people say this but begin by understanding your company’s objective. Once you are sure of what you can offer, it becomes a tad bit easy to understand what the stakeholder is looking for. The activities that should be included in this phase are:

• Communicate and comprehend

Communication is key at every step in this phase. To get a hang of the project, having a one-on-one conversation with the CEO or other senior staff will give a clear idea of what is to be done. It is recommended to have a clear set of questions that the stakeholders should answer. Have a friendly approach. It will not only lighten the situation and allows the stakeholder to open up about what’s at stake.  

• Use industry standards

User behaviour may vary. However, some set industry standards can be used as a benchmark to attain the goal. It will help you gauge your performance and give you a chance to up your game. Study and analyze your competitors. Take up case studies and come up with a full-proof plan. 

• Wear the customer’s shoes

To master the art of making flawless software one must know exactly what the users are looking for. This increases the technical efficiency and helps to put up a great marketing campaign. 

• In-depth analysis 

By this time, having clear documentation of your progress so far in the discovery phase should be ready. It should contain the vision, stakeholders’ expectations, marketing strategy and a legacy code. Take time to analyze this so that stepping forward becomes effortless.

• It’s go time

After enough contemplation and research, develop a prototype with the available data. By now, the team will have a blueprint of the architecture and SRS. With the trial and error method, the result will be spectacular.
With all the steps followed to the tee, it is now time to showcase your hard work to the stakeholder. If things go well, the software developers are free to go ahead with the next and final step. 

Tips to make the most of the discovery phase

• Communication is the key.
• Interact with everyone.
• Setup a great team
• Everyone in the team is important. Value their suggestions. 
• Commit to your goal.
• Research to the fullest. 
• Map your journey.
• Be open to new ideas.
• Be grounded.

Concluding remarks

By now, it is clear the discovery phase is the most crucial phase that lays the foundation of the project. The discovery phase gives a chance for the software to become a hit.  Everything depends on how you begin with the project. The discovery phase has a lot to offer, so make the most of it. Have a software idea? Let our team do the rest. 

You can contact the App Scoop mobile app development team on: 
https://app-scoop.com/contact-us.html

References 

• https://unicsoft.com/blog/discovery-phase-in-software-product-development-for-startups/#:~:text=The%20discovery%20phase%20is%20the,costs%20and%20plan%20project%20development.
• https://www.digiteum.com/discovery-phase-software-development/
• https://freshcodeit.com/freshcode-post/why-project-discovery-phase-matter
• https://www.alphalogicinc.com/blog/how-discovery-will-make-your-software-development-project-a-success/#:~:text=The%20discovery%20phase%20is%20a,1.
• https://agilie.com/en/blog/why-you-need-to-start-your-project-with-the-discovery-phase

Well, the outbreak of COVID-19 has devastated a lot more than just shattering our travel dreams. Disruption of businesses, economic impact, mental health issues, and more, you name it, and the virus has affected us in many possible ways than this. However, people are enduring this ire with the hope that they will see the sunshine at the end of the tunnel, and that their life will return to normalcy. But as and when it happens possessing a vaccine passport or immunity passport will be a must! This article will inform you about what a vaccine passport is, why is it necessary, how will blockchain assists this process, and more.

What is a vaccine passport?
 A vaccine passport or an e-pass is a document of proof that an individual has been vaccinated against CVOID-19. However, one might be allowed to travel even if they have tested negative. All these norms are in the initial phase. This proof can be digital or on a piece of official paper. So basically, it is your hall pass to enter a party, school, pub, office, socialize or travel worldwide. This vaccine certificate can typically be in the form of a barcode which ensures the authorities that you have tested negative for COVID or taken a jab. 

A concrete list of norms, rules, and regulations for a vaccine passport will be listed soon, in order, to make travel easier. Several airlines, industry giants like IBM, Microsoft and Oracle, NGOs, and technology companies are already working on this. At the recently concluded online G20 Summit, several countries agreed to the concept of the vaccine passport. The vaccine passport will contain a lot of crucial data which will help us suppress such the virus in the near future. Or this data will come in handy if we are hit with another pandemic of this sort. However, a lot of them are sceptical about this passport as it withholds are some personal details as well. 

Blockchain and vaccine passports

When it comes to sharing data or information privacy, confidentiality, data security and integrity is an important aspect. For people to embrace this concept, they should be assured that their data is secure and well-guarded. Data infringement or breaches is a menace that haunts everyone, especially the healthcare sector. In 2019, this concern has affected over 40 million people in the US. This rate has considerably increased since 2018, where 14 million people were affected by healthcare data breaches.
Along with restoring citizen trust, government officials or parties should also be assured that the vaccine passport contains authentic data. The vaccine passport answers:

• Which authority has provided the individual with the vaccine certificate?
• Credentials of the person who issues it.
• Are the data and credentials authentic? 
• Vaccine and batch name.
• Place of vaccination.

 
One false record can create a catastrophic impact. For instance, suppose if a COVID positive person is carrying a vaccine passport where the records forged. If it goes unnoticed, and the person is allowed to cross the border, this ripple effect can result in several positive cases. Trustworthy ledgers will assure both citizens and authorities! When the risk is high, incorporating blockchain and digital ledger technologies will assure both citizen and government authorities regarding data privacy, transparency, decentralization, and authentication. Nonetheless, this technology comes with a few concerns.

How will it work?
Courtesy of blockchain, the way the patient’s data is shared across the entities in the value chain has changed. It eliminates the third party and middleman, further reducing the risk of data theft and other frauds. These days most of us use a smartphone. Only registered and verified vaccination centres should be authorized to feed the data. Information such as vaccine data, delivery data, vaccination date, and location are critical. 

This information should be stored against the person’s passport ID or other security ID. Against which a QR code should be generated. Securing the data on a QR code ensures safety and privacy. This data should be accessed through a cryptography mechanism, that is through, encryption and decryption, digital signature, and verification. Overall, through blockchain this process becomes secure. So, essentially, these steps should be followed while creating a new record.

1. The transaction of feeding the information against the person’s ID is established.
2. Now, this transaction is coded into a block and is then added to the network. 
3. The distributed member, say for instance any government or verified officials, present in the network will compare the fed record for integrity and validation. 
4. Only when all the distributed members are sure of the data, the block will be accepted.
5. The block is added to the blockchain. 
6. The authentic transaction is approved and can be further used by officials to verify the person’s vaccine record while traveling overseas or entering the office, college, or schools, or while entering the café or restaurants.

Let us understand this through an individual’s perceptive:

1. The individual visits a vaccine centre for the vaccine. 
2. The healthcare official stores the information on the e-pass. A chain of authentic information is added to block against the person’s name. 
3. This information is synced with the person’s passport ID or any other official ID. 
4. Only after the person has taken the jab or tested negative for COVID can use this e-pass to travel or socialize. 
5. Officials scan the pass to trace the data for authentication. 

Benefits of using blockchain for creating a vaccine passport

There are several positives of using this concept. To access data of such intensity, using blockchain to facilitate communication for APIs ensures secure transaction, legitimacy, and the ability to prove that previous transaction did happen. More than anything, accessing the digital vaccine passport requires permission from several network members, which makes it legitimate and secure. Citizen’s data is shared upon their consent which ensures faith and trust.

• Increases efficiency
  

Compared to this system, any traditional process that includes paperwork is prone to human error. By eliminating the third party, this process will be fast. The record-keeping process is less tedious and without clutter, as it is performed using a single digital ledger. 

• Improves traceability 
  

Vaccine passports can use blockchain to trace and contact the people who are at risk of getting infected due to contact with an infected person. This tracing system is highly confidential and can be taken into action without revealing much of the patient’s information. Further, using blockchain can also help in a complex supply chain system. In essence, it helps in reducing the number of potential cases and smoothens the process. 

• Provides transparency

As blockchain is a type of a distributed ledger, the record can be accessed by all the network participants. Only through mutual agreement, the record is added to the chain. This means, all the records of the citizen are added upon verification implying that only authentic data is available. And if someone wishes to change the record, for instance, to add a false vaccine report, is highly impossible as it requires the consent of all the participants.

There is hope! 

The application of blockchain comes as a relief and with some usual concerns as well. But considering the current situation, the positives are way higher, giving up us the hope that things will be back to normal. Ideally, for this to work, globally there should be identical norms. When the government and citizens join hands with technology, everything seems achievable.

Want to know more about how blockchain will ensure the smooth working of vaccine passports? 

You can contact the App Scoop mobile app development team on: 
https://app-scoop.com/contact-us.html 

Blockchain-related articles: 
​
https://app-scoop.com/blog/category/blockchain

References: 

• https://www.tcs.com/blogs/blockchain-technology-digital-vaccine-passport
• https://www.ibm.com/in-en/blockchain/industries/healthcare
• https://www.govtech.com/opinion/is-blockchain-the-answer-for-covid-vaccine-passports.html
• https://www.ibm.com/blockchain/solutions/vaccine-distribution

Of course, to come with an idea for an app, execute it, and see the final product being created is a task. And to say the least, the actual journey of an app begins once the user hits the download button. So, now, how can an app evolve once it goes live or how can an app be immortal, is the real question. Humans sure must be complex creatures. But to understand them or to predict their behaviour becomes fairly easy courtesy of technology. Mobile app analytics helps us understand and track the user behaviour, leads us to derive their intent, and drives us to take action. And if these actions create measurable impact, then the lifespan of the app increases exponentially. 

Data is the new factor of production – which makes data the new gold. When this data is used wisely, it opens new doors to success and opportunities. So, what is Mobile App Analytics? By its very nature, Mobile App Analytics is the analysis of the app data. Understanding the user’s interaction with the app is the key. And when this data is converted into meaningful insights, things fall into perspective. In totality, it will give a chance for your app to grow by optimizing engagement and conversations and increasing the download rate. 

Mobile App Analytics: Crucial than ever! 

There are a whopping 3.2 billion smartphone users worldwide, which surely is a piece of great news for app developers. With this, there is a reason why mobile is more important than desktop. According to a study, a user spends 71 percent of screen time on their mobile and more than 90 percent of that mobile time is spent on using the apps. That is when Mobile App Analytics comes into the picture. Companies should use it to not only narrow the competitive gap but also to stand out from the crowd. Now, there are more than 7 million apps on the store making survival in this cut-throat competition is a mammoth task; giving you more than enough reasons to encash on Mobile App Analytics. 
Technically, Mobile App Analytics gives companies an over-the-surface sneak-peak of the users’ life. Without which companies are left clueless. And not knowing what is working in the favour of the app or why the user is leaving is great pain. 

Mobile App Analytics to the rescue  

On average a smartphone user uses 10 apps per day and around 30 apps per month. These days, millennials are the driving force behind the success of any app. As per a study, 24% of millennials open an app 50+ time per day. With roughly over 7 percent increase from the years before, 2020 saw more than 200 billion apps being downloaded. All this is generating a tremendous amount of revenue and mobile apps are expected to generate over $935 billion in revenue by 2023. When so much is going on in this industry, let us understand how Mobile App Analytics will come to your rescue.  

• The first and foremost things that it tracks is the user’s interaction with the app and user journey. 
• Secondly, it provides a pattern with customizable analysis to understand the user. 
• Further, it derives the churn rate by tracking the uninstalls. Moreover, it hands over some cost-effective campaigns to win the users back. 
• Visualizes navigation path. This will give you an idea of which feature or product is doing well. 
• It defines users’ characteristics – gender, demographics, app installs, taps, screens, user retention, app launches, funnel analysis and more.
• Narrows down reports beneficial for your business. 
• Identifies common problem areas. giving you a chance to rectify and grow. 
• It helps you understand the growth of KPIs.
• Defines retention rate and provides the number of active users.

Types of mobile analytics 

Analyzing the data, is without a doubt, a must! All the data that is collected has a purpose and classifying it will make the work easy. To derive meaningful patterns and curb the haziness, understanding these types of mobile analytics will help you leverage the data.

Advertising or Marketing Analytics

Last year saw a 20 percent hike in the average daily time spent on a mobile, which reached four hours and ten minutes. In 2019, 4bn shopping apps were downloaded and in the second quarter of 2020, over 1bn mobile games were downloaded per week and 24bn downloads of the finance apps. The success of an app depends basically on marketing channels, how you attract the user, the number of installs, and how the engaged audience contributes to the financial component of the app. 

For this, one can collaborate with different ad networks. Here marketing analytics will play a big role to understand channel was responsible for the spike in the app’s success. The data acquired, upon analysis, will exude which ad network or publisher are helping us get the right users. In a recent survey done by a leading company, 51 percent of users said they discovered a new company or product when searching on their smartphones. And in 2020, mobile ad placements grew by 95 percent in the United States. Encashing on this data, we find ways to attain the highest return on investment (ROI) and lifetime value (LTV) of acquired users. Quality data collected via marketing analytics are installs, purchases, opens, clicks, registrations, shares, invites, and others.

• In-App Analytics
  

A normal trail of a user while using an app essentially is – opening the app, scrolling through different products (pages),reading reviews, adding the product to the cart, contemplating buying it, and ,in the end, purchasing it. The purchase rate depending on various factors. Here ,what can be done is to understand their trial that leads to purchase, what they do in the app, and the way they interact with the app. By analyzing that, we get a chance to optimize the features and conversation funnels. In-app analytics provides data such types of devices, OS, location, language, gender, age, new or old user, screens viewed, ads clicked, purchased made, etc. Working on this data will surely enhance the user experience. For instance, if a majority of users are making a trailing and going to the third session (page) of the app, making it one of the most clicked or viewed pages. To make it easier for them, we can shift that session or product on the home page itself – it not will not only save their time but will also guarantee user satisfaction further leading to the rise of the purchase rate. 

• Performance Analytics
  

We get it, it is seriously annoying when you are doing something important on the app and just when you are about to complete the task, the app crashes. At times, there is a point of no return, and crashing of the app can get 71 percent of users to uninstall the app. One of the things, that might help here is when the user reports the bug and the issue is solved instantly. It is said that 67 percent of bugs are reported on iOS devices. And if the user does not find the value in it, 29 percent will immediately abandon the app. According to a survey, a poor mobile experience negatively impacts the brand as per 65 percent of the users. Long story short, your app’s health is of utmost importance to give the user the best experience. 
Performance analytics collects data such as crashes, errors, data transactions, API latency, carrier latency, and more. This data will help you prioritize the problem, optimizes your improvement time, further leading to the success of the app. 

Here are some of the fundamental measures for mobile app analytics  

• Define your purpose 

Before getting into you anything else, the developer should focus on what the app is going to provide. Pen down the clear values and purpose that the app will provide the users. Laying down a foundation will provide a crystal picture. The best way is to get in the shoes of the customers and decode what they would want from your app. 

• Don’t wait! 

Waiting to implement mobile analytics means you are just wasting your time. Don’t wait to implement it in the later stages. For optimized results, executing it during the design stage will provide you with a better picture. You don’t want to find that there is something wrong with your app once it is launched. App health is critical and applying the analytics at an earlier stage will help you lay a great foundation. Be proactive in resolving issues. 

• Everything is not gold

Prioritization is the key. Don’t get carried with the quantity of data that is at your disposal. Define what data matters and work on it. If you don’t focus on the key points, you will be left with little or less time to work on the crucial data. This step becomes a cakewalk once you have defined your purpose. Set your KPIs on the out track. Work on data that will give back actionable output.

• Breathe in, breathe out!

Data achieved overnight won’t change the fate of your app. Don’t run behind quantity, quality data will change your life. Mindful data is achieved over time. And analyzing that data will provide you with certain useful trends. Be patient with the data! Don’t forget patience always bears sweet fruits of success.

• Track user journey 

A happy customer increases the life span of the app. And to make the customer happy, the app developer must understand the mindset of the user. Which feature makes them happy, what aspects get them frustrated and what makes them hit the purchase or the download button. Understanding and mapping user journey will optimize your funnel and bring in great returns. You might have built the app taking into consideration the user journey and the step they to conversion. But not always the user will follow the same trend. This is exactly why understanding user journey or footsteps is gold. 

• Be flexible 

These days trends, data, tools, and parameters change in a jiffy. That said and done, the business model does not change. Begin by designing the analytics but be flexible enough to alter it when the trends change. Suppose, for instance, you have designed an app using certain tools but at the last moment, the client asks you the chance the platform, so instead of changing the model all you have to do is change the tool.

• Twice as nice 

When will you get effective results? So, basically when you offer two versions of the same app and get it tested before launching. As per an assured source, 49 percent of apps need more time for testing. A/B testing provides you with the best outcomes. Investigate the data see what will make for the best app. 

• Set higher standards 

They say comparison isn’t good. But in this case, it will work in your favour. There are a few benchmark standards set by the industry. If you evaluate that, you will get a clear idea of how to up your game. Check the industry benchmark sifted by vertical and demographic. 

We are at your service

In essence, what makes an app eternal is – understanding user footsteps, measuring the insights, and changing as per trends for optimum results. Using specialized analytical apps can change your life. An ideal tool can cater to a mammoth of an audience.

As per a study, the year 2023, will see an astounding number of app downloads amounting to 300 billion. When the race gets so tough, we are there at your service to make things a tad be easy. Curious about how mobile app analytics function? Are you ready to give your audience the best user experience? Our smart and diligent team will do the rest for you! 

You can contact the App Scoop mobile app development team on: 
https://app-scoop.com/contact-us.html 
 
For quick reference of the best analytic tools to track your apps:
https://app-scoop.com/blog/category/mobile-app-analytics

References: 
https://www.tune.com/blog/3-major-types-of-mobile-analytics/
https://clearbridgemobile.com/stats-for-mobile-app-growth-and-success/
https://blog.hurree.co/blog/mobile-app-analytics-best-practices
https://www.tune.com/blog/3-major-types-of-mobile-analytics/
https://www.adjust.com/blog/mobile-app-analytics-best-practices-for-optimal-results/
https://1nwu8i3sj55rdbw4k4fm55i1-wpengine.netdna-ssl.com/wp-content/uploads/2019/08/White-Paper-Mobile-App-Analytics.pdf
https://7t.co/blog/mobile-app-analytics-best-practices-how-to-improve-ui-ux-and-performance/
https://mixpanel.com/topics/what-is-mobile-analytics/
https://www.youtube.com/watch?v=EPWVUAyWsdg&t=1903s