When we launched Predictable last quarter, many people asked us why we thought timing was right for a plug-and-play predictive modeling suite. The MarTech landscape is pretty crowded right now, and most enterprises are scaling back their investments in new technology. Also, don’t companies have big data sciences teams in-house that know their customers better than anyone? Well, yes, and no. Enterprises are pulling back on tech investments, but not in investments that create efficiency. And as for those in-house data sciences teams, well, where they do exist, they’re pretty darn busy, and seldom get around to addressing marketers’ key needs and concerns. From where we’re sitting, the timing for a product like Predictable couldn’t be better. There are three specific trends that we think support the momentum of Predictable right now.
One, we work with first party data all day long and we know that it is the most valuable data for driving marketing outcomes. But it is woefully underutilized. Due to a host of technical limitations, resourcing limitations, and tech-stack interoperability issues most marketers do very little to create incremental value from the first party customer data they’ve worked hard to collect. Predictable is built as an easy button that gives marketers an on-ramp to sophisticated segmentation, scoring, and personalization that they can’t get today from in-house resources or current tech platforms. We sometimes like to say that first party data is “cold fusion” for marketing – a free and limitless source of energy. Predictable is the reactor that allows that energy capture and energy synthesis to take place.
Two, there is an increasing focus on efficiency across marketing organizations right now. The grow at all costs techniques that fueled the last five years of growth are out of favor, and marketers are looking for more measured, rational, repeatable methods to acquire, grow, and retain customers profitably overtime. To do this well requires a good understanding of who your customers are, and how to value them. Predictable models include ready built signals on this type of information such as churn, propensity, lifetime value, and repeat purchase. Armed with data points like these marketers can make better informed decisions about which customers and prospects to invest in, and which to cut loose. This power is greater efficiency, and ultimately create a profitability, which is the goal marketing organizations are now tasked with.
And three, there is an overarching technical trend that bolsters a product like Predictable. The rise of “composable architecture” and “composable CDPS” creates an environment where enterprises expect to enhance and augment their core customer database with additive technologies – the functional spokes to the core customer database hub. Predictable is built as a composable toolset, and integrate seamlessly into a larger customer database and customer marketing stack. As marketers look to get more out of their cloud data warehouse investments, Predictable enables their database with intelligent, actionable segmentation, and deep customer insights. It also integrates and enhances other elements of their composable stack, such as composable CDP and ESP solutions, as well as analytics and BI platforms. Built with interoperability in mind, Predictable can plug into any cloud database and immediately enrich that database with actionable, powerful insights.
We’re extremely excited about the reception that we’ve received for predictable thus far – from prospects, partners and investors. And we continue to believe that the focus on 1st party customer data, the drive towards efficiency, and the trend for interoperable composable data stacks will fuel ongoing tailwinds that help drive our business forward over the coming years.
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