Understandable, actionable analytics is key to the success of any data-driven business. But cobbling together siloed data from a variety of tools — and then fully understanding it — can be tough, especially for mid-size companies that can’t afford a team of data scientists to interpret it all.
With its new BDaaS (Big Data as a Service) analytics platform, ConDati seeks to change all that. Its cloud-based conDati Marketing Analytics uses applied data science and machine learning to help marketers understand and use all the data it collects.
The company says it is “the first truly modern marketing analytics platform, providing real-time understanding of campaign performance.”
Ken Gardner, chief executive officer and founder of conDati, took me through a demo and explained its features.
“I came to the conclusion that the best way to serve the customer, particularly the marketing customer, is to do all of the work for them,” Gardner told me.
The platform uses a modern dashboard with drag-and-drop functionality to show snapshots of activity, and then drills down into specific analytics powered by artificial intelligence (AI) and machine learning, including an emphasis on the detection of anomalies to provide marketers with actionable insight.
The product is targeted toward mid-market companies with revenue of less than $1 billion that do not have a dedicated team of data scientists, which many companies are adding at a lightning pace.
In fact, a Salesforce study earlier this year found that companies this year will be hiring up to 50 percent more data scientists than last year to help them sort through all the data it collects.
conDati customizes the setup for each business, creating “a set of dashboards that we will put in front of your marketing team and we will continuously update.”
“This is squarely pointed at [roles such as] the chief marketing officer, the vice president of marketing and the directors of marketing to show them the financial performance of their campaign spending,” Gardner said.
Gardner said conDati is the only company offering this combination of analytic tools to this market. He acknowledged other analytic tools such as Domo and Tableau but said, “Then I need to hire a team of analysts in order to build out the analytics that I want to see. And it assumes that I actually know what I need to see. What we’re doing is all of that for you, wrapped into what we think is a very affordable monthly service charge.”
“We don’t see anybody else in the marketplace currently doing what we’re doing,” Gardner said. “We do know of some companies that have spent a lot of money internally to do this for themselves. We think that the combination of a total solution and the economics makes us pretty unique in the current market.”
Gardner said that by properly aggregating its analytics, a company can regain 20 to 30 percent in inefficient spending, and in addition to cost savings, conDati can get its tool up and running fast.
“We can create dashboards with the last three years of your data in place in about a week and a half,” Gardner said, adding that it could take up to a year for other systems.