This is a question one can genuinely ask. How many times did you hear about a new startup doing yet another analytics platform? How many calls are you getting weekly on this topic? Some are nicer looking than others, some are easier to use, and some might have the possibility to visualise data from virtually any data source.
Why does it feel like they fall short in fundamental areas of simplicity and actionability?
What is the problem?
Before starting to build Causalytics we thought there must be some tools that are simple enough to use, easy to understand for non analysts and provide actionable insights. That is the least of expectations with hundreds of available solutions.
We couldn’t have been more wrong. Unless you have millions of Euros to spend on enterprise (or custom) grade platforms (without taking the complexity issue away). You are stuck with a ton of statistical backwards looking dashboards and reporting tools.
We interviewed a hundred digital marketing agencies and companies, in Finland, Sweden and the Netherlands. The observations were staggering:
- Complexity: Most analytics, reporting and dashboard tools are too complex for non analysts and data scientists.
- Unknown ROI: Medium to large companies find it hard to understand the impact of the digital marketing activities and their ROI.
- Rarity of Insights: Actionable insights are a rare species, and they are found by using a lot of time and manual work if they were to make any sense.
- No actionability: Once insights are extracted, it takes a lot of ingenuity to have actions and estimate their possible impact.
- Data fragmentation: Marketing data is scattered in many different channels, platforms and databases. It makes it almost impossible to have a clear overview.
What can be done differently?
To answer the question in the title: the world does not need another digital marketing reporting and analytics tool. It needs a fundamentally different one.
That is how Causalytics was thought, it specifically answers to the issues pointed out:
- It focuses on ROI rather than only tactical metrics.
- It generates natural language explanations that tell the story of the data. What it means, how it was calculated and why does it look the way it does.
- It provides clear suggestions. On what to fix in your setup (ex: google analytics). Actions to optimise traffic, conversion or digital marketing campaigns (ex: AdWords campaigns). Tips you can test out.
How can we do this?
AI and Machine Learning is the short and generic answer. The way Causalytics does it is illustrated in the following graphic. Check the coming blog posts for a full answer to that question or contact us for a demo at firstname.lastname@example.org or give us a call at +358 40 167 0096.