AMSTERDAM – (BUSINESS WIRE) –Amplitude today introduced the industry’s first digital optimization system to manage, measure and optimize the business value of digital product innovation. Drawing on his # 1 Ranked Digital Product Analytics Suite, Amplitude also announced the general availability of its new personalization product, Amplitude Recommend. Recommend is the first personalization solution that leverages customer behavior data in digital and machine learning product models to determine which behaviors drive the optimal business outcome, such as convert to buy or average order size. The system then tailors each individual experience based on this information to optimize the desired outcome.
The world has gone digital first, with digital products at the center of the innovation agenda. According to a IDC 2021 Report, by 2023, more than 500 million digital applications and services will be developed and deployed – an explosion of applications in just two years that equates to the number developed over the past 40 years. Yet even with digital at the forefront of innovation, companies lack the ability to connect products to measurable business outcomes such as revenue and lifetime value. Amplitude is the first unified system that connects products to business results and gives each team common visibility and data, so they can answer the strategic question: “How are our digital products driving our business?”
The Amplitude digital optimization system helps digital teams, including product, marketing, engineering and beyond, deeply understand customer behavior in the digital product, predict which features and actions lead to business results and tailor each experience in real time to maximize its business impact. Amplitude customers are some of the most beloved and beloved brands on the planet, from digital native companies disrupting entire industries to 100-year-old trusted brands disrupting themselves with digital.
“When we started Amplitude, we had a vision to help every business create better digital products by understanding how people interact with them,” said Spenser Skates, CEO and co-founder of Amplitude. “Today, this vision has never been more important in a world where digital is the survival of businesses. We don’t need more “digital experiences” by delivering more features and content as measured by ad clicks and web visits. It’s time for a new way. The winners of the next era will be companies that understand their customers and use that information to transform experiences from the position value created: the digital product. That’s why we built the digital optimization system. With Amplitude, every business now has a chance to become a digital disruptor. ”
The Amplitude digital optimization system unifies the data, analytics, and infrastructure needed to deeply understand customer product behaviors that drive business results – and to quickly and intelligently transform every experience based on that insight. Key components and new innovations include:
● Behavioral Amplitude Graph is the brain of the system. It’s the most comprehensive, fastest, and smartest database of customer behavior, built for the complexity of modern digital products. Its native query engine and machine learning algorithms correlate each individual action taken on each digital product to understand and predict which behaviors are outcome indicators such as engagement, retention and loyalty.
● Real-time data management is the foundation of the system, with data pipelines, identity resolution, and data governance all integrated to ensure data is complete, reliable and secure. New proactive data audit workflows dramatically improve data quality while dramatically reducing the time spent planning and troubleshooting data issues. Amplitude reveals data anomalies, unexpected events, and incomplete taxonomies so you can correct them quickly and get information faster.
● Amplitude analysis is the industry’s # 1 digital product analytics product based on G2 user rankings, bringing behavioral data directly to digital teams so they can ask questions, get answers, and share results instantly. For example, Amplitude Analytics can tell you which actions are the greatest predictors of retention or churn, and which behaviors are driving conversion degradation. New executive reporting capabilities bring every digital team and business leader together with common data and visibility.
● Amplitude Recommend is the premier self-service personalization engine powered by machine learning, behavioral data and product analytics. With Recommend, every digital and product marketing team can deliver business impact-time product experiences that are tailored to each user, without having to rely on engineering or data scientists. Before Amplitude Recommend, only digital-native companies with vast data science resources could create experiences that scale at the right time based on each customer’s past and anticipated behaviors. Now, with Recommend, that same level of behavioral customization is immediately available to any team.
“Delivering a more relevant experience through personalization is a key driver of growth, but traditional manual or demographic approaches are not suitable. A business can have millions of combinations of customers, content and offerings – it is it’s simply impossible to know exactly which ones to present to each customer at all times without machine learning, ”said Justin Bauer, senior vice president of products at Amplitude.“ With Amplitude Recommend, we are bringing behavioral data and l ‘machine learning to personalization. We believe this is the key to removing the barriers for customization to work, at scale, without requiring an army of expensive technical resources. ”
“Over the past 2 years, Amplitude has grown to play a pivotal role in enabling Culture Trip to become a more data-driven organization. The intuitive interface and near real-time data pipeline put data in the hands of decision makers. across the business, exactly when they need it. This has enabled a culture of experimentation – where product characteristics, content and promotional campaigns can be continuously measured and optimized – with minimal input from our central data teams. It freed them up time. to do an in-depth, multi-source analysis that is not possible in self-service. This approach has meant more data at both the tactical and strategic level. “- Andy Jones, Head of Business Insights and Analytics at Cultural trip.
Powered by Amplitude’s behavioral graph, Recommend intelligently tailors and personalizes each customer’s experience on any digital product or touchpoint in real time, based on their behavior or the behavior of customers who behave similarly. . Machine learning algorithms and predictive models enable teams to understand specific drivers of results. For example, the Jumbo Interactive games service used Amplitude to understand the preferences of customers who have recently purchased. With Recommend, they instantly created Amazon-style channel recommendations tailored to each user’s unique behaviors, resulting in a 158% increase in checkout conversions.
The Amplitude and Amplitude Recommend digital optimization system are generally available today. For more information:
● Explore the Digital optimization system
● See Amplitude Recommend in action
Amplitude is hosting its first Digital Disruptor Summit, a half-day virtual event, on June 3, 2021. Amplitude will showcase its digital optimization system to empower every digital team to become digital disruptors, and will be joined by Amplitude customers and industry leaders, including Sue Cho, Lifecycle Marketing Manager, Calm, who will speak about their journey as a digital disruptor. To find out more and reserve your place, register here.
Amplitude is the digital optimization system. Powered by Amplitude’s proprietary behavioral graph, the digital optimization system allows organizations to see and predict what combination of features and actions translates into business results – from loyalty to lifetime value – and ” intelligently adapt each experience in real time based on this information. Amplitude is the brains behind more than 45,000 digital products at over 1,000 corporate clients and 23 of the Fortune 100 companies, helping them innovate faster and smarter by answering the strategic question: “How are our digital products driving- do they our business? ” Learn more about www.amplitude.com.