Mixpanel is great at building funnels on specific events you would like to track. It also has excellent reporting capabilities and allows you to segment your data and ultimately analyze who your customers are and what they do.
Using Mixpanel, we are able to analyze the use of our product in real time, with real customers, and improve upon any flaws. We can also see how our visitors interact with our site, and help streamline the process for them to take the actions we want.
We were evaluating KISSmetrics and Mixpanel simultaneously. KISSmetrics was being tested on our front-end events, and Mixpanel was in use for our backend events. Ultimately, with faster reporting capabilities and a more fine-tuned integration with our application, we chose Mixpanel over KISSmetrics.