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How among the huge number of options of Magento extensions and plugins should I realize that any particular one will suit me best and solve my problems related to running an online business?

You should really either clarify what exactly you'd like to improve or immediately reach out to developers. I wanted to optimize the process of informing customers about the availability or absence of products in the store, which I managed to do with magento out of stock email plugin. Additionally, I gained a cool feature - better understanding of customer preferences, as I know in advance which products sell faster and are more eagerly awaited.