Better Understanding Consumer Behaviour

 

A branding and marketing tool known as Question Stream by EnquireLabs allows for a chronological campaign of questions served through programmable rules and context. The company’s question engine decides which questions are posed to customers based on certain variables and the technology knows who to question based on unique identifier data derived from a customer’s email or phone number. EnquireLabs aims to speed up and scale the amount of data that customers are optionally providing brands, and while the business started as a side project just a few years ago, the founders saw that e-commerce brands were becoming reliant on third-party data.

Rather than brands relying on Facebook to provide them with the perfect customer, brands were becoming hungrier for customer data as companies like Apple started to remove third-party cookies and thus a brand’s ability to attract conversions. The founders of EnquireLabs then started to focus more on customer attribution.

Their technology uncouples questions so they can be asked over time after a customer has purchased a product. This differentiates them from the competition because they focus on how to use data in real time rather than focusing solely on research – such as competitor Typeform which recently took $135 million in new funding. While the average survey response rate is around 10%, EnquireLabs have completion rates over 50%, and combined with the 2,000 brands they’re working with and over 30 million responses last year alone, they are becoming a formidable competitor in this space.

The founders state that they are able to obtain such high response rates by contextualising the questions being posed which adds a level of personalisation that people are more likely to engage with. They refrain from asking certain types of questions to certain customers who they know hate those questions. These responses are then transformed into insights that businesses themselves can access from their own dashboard so they can utilise their findings in their marketing strategies and send out unique emails that better express the brand.

In the past, EnquireLabs was exclusive to Shopify brands, but they have since expanded to mobile apps, fintech, and insurance companies and they have launched a software development kit to help expand further to new verticals. They are currently in the process of expanding their engineering team so they can further innovate their question engine and kits.

Alteryx Cloud Analytics

 

A recent Gartner report predicts two-thirds of development and production analytics will be performed in the cloud by 2023. 75% of businesses are transitioning to the cloud for their analytics, or are already there. While many enterprises look to the cloud giants such as AWS, Microsoft Azure, and Google Cloud, other cloud providers focused with on-premises solutions are making moves. One such provider, Alteryx, recently announced its Analytics Cloud earlier this month which is a unified end-to-end automation platform for business analytics.

Alteryx recently acquired Trifacta, a data engineering software company that provides integration with other cloud data warehouses such as Snowflake and also provides architecture for the 3 giant cloud providers previously mentioned. This technology allows Alteryx to offer competitive deployment solutions that can meet any business analytical needs that may arise. This acquisition also improves Alteryx’s credibility with data engineers that manage the data pipelines and analytical tools and applications for enterprises.

Their aim is to “democratise analytics” and not leave the analysis to the data scientists, as the company’s chief data and analytics officer explains how simple it is to become certified in Alteryx and how the platform can be used to improve performance in a two-mile race or determine the correct amount of nutrition and sleep a person should be obtaining.

Analytics needs to move to the cloud as businesses become more sophisticated and an increase in processor power is needed to analyse the vast amounts of data; the cloud offers the perfect scalability for this. It is also important that the analytic tools are available where the data is, and as more customer data is exported to the cloud, the capabilities to analyse that data need to migrate too. While Alteryx’s approach is “cloud first”, they are continuing their on-premises products with the possibility of deploying cloud-native technologies on-premises in the future if required.