In today’s data-driven world, businesses rely on analytics tools to gain valuable insights into user behaviour, improve their products, identify pain points, and make data-driven decisions. Two popular product analytics platforms that offer robust features and capabilities are Mixpanel and Amplitude. Let’s look at Mixpanel vs. Amplitude regarding their strengths, ease of use, pricing plans, and focus.
What is the best product analytics tool in 2023: Mixpanel or Amplitude? This guide will help you to make the right choice.
Mixpanel and Amplitude offer robust features and functionalities that can help you understand user behaviour and improve your business strategies. Whether you’re a small startup or a large enterprise, understanding how these tools stack against each other is essential.
The table below shows a quick comparison of the two tools.
Now, let’s delve deeper into these two tools.
What is Mixpanel?
Mixpanel is a product analytics tool that allows businesses to track user interactions and behaviour within their applications. The tool provides a wide range of features, including event tracking, user segmentation, funnels, and retention analysis. These features enable businesses to gain insights into how users interact with their products, identify bottlenecks, and optimise user experience. It also offers advanced analytics capabilities, such as A/B testing and cohort analysis, which can help you understand the impact of your product changes and measure user retention.
In summary, Mixpanel is a product analytics tool that focuses on helping businesses have deep understanding of their users and find product-market fit faster by providing actionable insights and enabling data-driven decision-making. As mentioned in my previous article, MixPanel is one of the best GA4 alternatives in 2023. To understand how Mixpanel differs from GA4, you can read our MixPanel vs Google Analytics 4 article.
What is Amplitude?
Amplitude is also an event-based analytics tracking tool. Like Mixpanel, it allows you to track user actions within your application and analyse user behaviour. With Amplitude, you can set up custom events and track specific actions that are important for your business.
Amplitude offers a wide range of features, including event tracking, user segmentation, funnels, and retention analysis. These features enable businesses to understand user behaviour, identify patterns, and optimise their product strategy. Amplitude also provides advanced analytics capabilities, like predictive analysis, user growth analysis, feature impact analytics, behavioural cohorts, and behavioural retention analysis, which allow you to understand user behaviour over time and measure the effectiveness of your product changes.
Mixpanel vs Amplitude: features differences
When it comes to features, both Mixpanel and Amplitude offer a similar range of capabilities to help you analyse user behaviour and make data-driven decisions. However, there are some differences between the two platforms.
In terms of UI, Mixpanel has a user-friendly interface that can be easily adapted to, while Amplitude’s interface is a bit more technical and might require a learning curve to grasp fully.
For Reports, Mixpanel has a few pre-made reports, which might be enough for some businesses; however, you can also easily create customised reports. Amplitude requires some customization before a report will appear, which might be time-consuming.
Although Amplitude’s comprehensive analytics solution allows you to perform in-depth advanced analysis into your user’s behaviour, it requires a lot of data, hence more suitable for businesses with high monthly user volume.
Both tools are event-based cross-device and platform tracking tools that comply with data protection standards. But with Amplitude’s data protection feature, you have restricted data governance options. In contrast, MixPanel’s data governance feature is more flexible as you can edit events and let you manage your data how and where you want it. You can edit events and their properties because Mixpanel uses a Lexicon data dictionary for storing events descriptions and properties.
Mixpanel vs Amplitude: price differences
MixPanel and Amplitude have three plans: a free plan, a Growth plan, and an Enterprise plan. The free plans have limited features; however, these might be enough for early startups. MixPanel’s free plan allows you to track 100k users monthly with a limit of 1,000 events per user, while with Amplitude, you can track up to 10M events monthly.
Their paid plans unlock more users, event tracking, and other features like advanced analysis. For Mixpanel, the Growth plan starts from $20 while the Enterprise plan starts from $833; the prices for these plans are adjusted based on the number of users tracked. Amplitude’s pricing model is not transparent: you would need to contact sales to get a price. However, from insights shared by users, Amplitude is said to be more expensive than MixPanel as its growth plan can be more expensive than the Enterprise plan of MixPanel.
Mixpanel vs Amplitude: integration difference
In Both Amplitude and Mixpanel, you can import data from different sources and easily integrate with other platforms like experimentation platforms, CRMs, and reporting tools. They also offer SDKs and APIs; however, Mixpanel offers customised connectors and integrations to over 90 platforms.
Verdict: What’s better to select in 2023: Mixpanel or Amplitude?
While both Mixpanel and Amplitude have their strengths, there are some advantages to using Mixpanel over Amplitude:
- Custom Events: You can easily create custom events in MixPanel than in Amplitude.
- User-Friendly Interface: Mixpanel’s user-friendly interface and intuitive design make it easy for businesses to navigate and gain insights from their data. Non-technical users can easily set up and track their data without extensive technical knowledge.
- Affordability: Mixpanel offers more affordable pricing options than Amplitude, making it a suitable choice for businesses with limited budgets.
- Startup-Friendly: Mixpanel is well-suited for startups and businesses looking to understand user behaviour, track user journeys, and optimise their conversion funnels. Its user-friendly interface and intuitive design make it accessible to non-technical users, allowing startups to gain valuable insights without extensive technical expertise.
Do you need help getting started with Mixpanel?
In this article, we have identified that Mixpanel is a powerful tool that empowers businesses to collect user’s data and unlock the full potential of that data. It provides an intuitive interface, flexible data configuration options, and integration capabilities that enable businesses to collect and derive valuable insights from their user behavioural data.
Whether improving decision-making, identifying pain points, or improving strategies, Mixpanel is valuable for any organisation seeking insights into their users’ behaviour.
At Vakulski Group, we help businesses implement Mixpanel to enable them to understand their users’ behaviour, identify pain points, and make informed decisions.
Frequently Asked Questions
Both tools are event-based tracking tools, but Amplitude features focus on providing in-depth analysis and reporting, while Mixpanel offers an easy-to-use and user-friendly interface tool for product analytics.
Mixpanel shows more advantages over Amplitude for its ease of use, affordability, and intuitive design, as Amplitude has an outdated design and is more expensive.
Mixpanel has a transparent pricing model and is more affordable as the cost is adjustable based on the number of users tracked monthly. For Amplitude, you must contact the sales team to get a price.
Although expensive, it is primarily focused on providing in-depth analytics and reporting capabilities. Amplitude is popular among enterprise-scale businesses that require extensive data analysis and customization options.
Mixpanel is an affordable event-based product tracking tool with an intuitive and user-friendly interface that allows you to gain insight into your user’s behaviour. With its collaboration capabilities you can create and share insightful and digestible reports with your team.