Amplitude launches customer data platform with integrated product analytics

Amplitude launches customer data platform with integrated product analytics

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Behavior-tracking software provider Amplitude Inc. said today it’s getting into the customer data platform game with the launch of a new product called Amplitude CDP.

Billed as the industry’s first insights-driven customer data platform, Amplitude CDP does away with the need to integrate with third-party analytics services, since it can collect and analyze data from its own product analytics platform.

The launch of Amplitude CDP came as the company announced a new data-sharing integration with Snowflake Inc.’s Data Cloud platform.

Amplitude made its name in the enterprise with software that tracks and analyzes customer interactions with digital products. It’s popular with product managers, who use the platform to add, subtract and fine-tune digital product features based on the behavior of customers.

Amplitude not only analyzes how customers use such products. It also provides recommendations on which features to add, as well as an experimentation feature for product teams to plan, test, track and analyze new feature implementations.

It’s easy to see why Amplitude CDP might be a good fit for the company’s user base. In a press release, it explained that the idea is to help organizations collect data that may lead to insights that will enable data-driven decision making and new customer experiences.

The company said existing CDP platforms struggle in a number of areas. For instance, data that’s not proactively managed can reduce the quality of the insights such platforms generate. In addition, it says, the teams responsible for collecting, analyzing and taking action based on customer data struggle to collaborate as they use multiple platforms to perform their respective tasks. Another issue is that maintaining separate CDP and product analytics platforms results in duplicated costs, Amplitude said.

Not surprisingly, Amplitude said these are the very challenges it can solve. It reckons that by tacking its CDP onto its product insights platform, it can ensure improved data quality. Features around data planning and governance are built into the platform natively, the company said. Amplitude CDP also enables better audience discovery.

“Many CDPs move right from data collection to activation, offering segmentation but assuming companies know what audiences to target,” the company explained. “Now, deep segmentation combined with analytics helps teams discover audiences based on insights, putting audience discovery before audience activation for maximum engagement.”

Amplitude also claims that using its two integrated platforms will result in lower costs, as well as accelerated time to insights.

Liz Miller of Constellation Research Inc. said that Amplitude has made a big name for itself in helping companies to understand the behavioral dynamics between customers and digital products. As a result, organizations can make more rapid-fire decisions on things such as which new features to implement and new engagements that will extend, or end, the lifecycle of a digital product.

“The product intelligence and analytics Amplitude’s existing platform provides gives organizations insights into impact quickly, while creating more opportunity for experimentation with the intention of optimizing a digital product,” she explained.

Amplitude has therefore helped companies to shift from vanity rear-view metrics to far more meaningful insights into their campaign and product performance, Miller said. Now, with the launch of Amplitude CDP, which aims to understand customers in the same way its flagship platform understands digital products, she said the company will be able to provide both sides of the growth-coin in one place.

“So you will have analytics about digital products and insights into the customers using those products, available from a single, actionable tool,” Mieller said. “This will enable companies to quickly understand the behavior of customers using their digital products and then act on both those signals and their intent.”

The company thinks it will find a receptive audience, as it notes that more than 50% of its customers currently send data from Amplitude to other CDPs. Moreover, the initial reception has been overwhelmingly positive from early adopters such as Kahoot AS, Zenvoice Software Inc. and Thrive Market Inc., the company says.

Sasha Siddharta, co-founder and chief technology officer at Thrive Market, said his company was already using Amplitude’s platform for its deep analytics capabilities, so it made sense to try Amplitude CDP.

“Using Amplitude CDP was a powerful and cost-effective solution for our team,” he added. “Amplitude CDP now helps power our 360-degree view of our members, allowing us to focus on one-to-one personalization and driving customer lifetime value.”

Amplitude co-founder and Chief Executive Spenser Skates said his company has spent the last few years trying to help its customers solve problems that existed in the CDP market. “With the launch of Amplitude CDP, we are now providing customers with the ability to provide meaningful, personalized experiences all from a single platform,” he added.

Meanwhile, Amplitude said, its expanded partnership with Snowflake will give joint customers greater flexibility to unlock insights into customer behavior without needing to export data from Snowflake first. The new integration allows Amplitude and Snowflake users to consolidate their data directly within Snowflake instances, or alternatively establish read access to a data share that’s provisioned by Amplitude. As a result, the company said, customers will benefit from improved data accessibility.

Amplitude said the new integration with Snowflake will be available in the third quarter. As for Amplitude CDP, it’s available now through an early access program, with general availability scheduled for later in the year. The new platform will be free of charge for customers that stream fewer than 10 million events per month.

Image: Amplitude

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