Amplitude Arms Product Teams with Analytics to Meet Growing Need For Rapid Innovation
Amplitude, the product analytics company, today announced a new set of features designed to help product teams at large companies innovate faster. Amplitude’s advanced analytics solutions enable them to understand their customers’ behavior better, ship ideas faster, and grow long-term revenue.
Enterprises today are relying on product teams to innovate fast and drive key business metrics, such as revenue and growth. However, most product teams are still using analytics tools that were built for marketers, leaving them without the deeper insights and capabilities they need to be successful. Too often, access to crucial product data is limited to only a few, which slows down the whole company. With Amplitude’s new features, product data is accessible, at scale, and businesses can make important product decisions quicker, easily identify patterns in user behavior and trust that their customer data is accurate.
“Analytics should be a superpower for product teams, but most are constrained by limited tools and are forced to wait for data science resources to provide the insights they need. With this launch, we are arming the product organization with everything they need to innovate faster,” said Justin Bauer, VP of Product at Amplitude. “Great products are developed alongside customers and we worked with some of the most forward-thinking product teams at Fortune 1000 enterprises to help them address key issues. We want to ensure that the value they get from Amplitude is always increasing.”
Amplitude’s new products are:
- Taxonomy: To ensure data quality and integrity is always perfect, regardless of how many team members and disparate data sources it comes from, Taxonomy gives product managers and analysts the ability l to stage and approve data, while proactively identifying errors and inconsistencies at the same time. With Taxonomy, teams can now fix and transform incorrectly tagged data in real time, giving businesses 100 percent confidence in the accuracy of product data. Taxonomy helps product teams at companies like PayPal maintain and manage product data transparently so the entire company – including executives – is armed with the insight they need to make business decisions.
- Insight: Leveraging machine learning techniques, Insight helps product teams react and learn faster by actively monitoring for patterns in user behavior and KPIs. Customers like Microsoft use Insight to receive real-time alerts when any significant changes in their product take place, ensuring they never miss hidden trends again.
- Accounts: To help customers accelerate growth, Accounts enables SaaS companies like Hubspot to quickly and easily understand how an entire customer organization is using their products. For instance, Accounts enables users to segment customers based on product/licenses purchase history, onboarding speed, and usage. Accounts also integrates with third-party sources like Salesforce and Zendesk to give product teams a unified view of accounts and usage trends.
- Scale: With a proprietary dynamic sampling methodology, behavioral algorithms, and whitelisting capabilities, Scale gives customers like OkCupid, a fast and accurate view of user behavior across billions of actions. For many companies, large scale makes it impractical or too expensive to use a best-in-breed product analytics platform. Scale allows highly accurate and real time behavioral analytics to run on data sets that are a fraction of a customer’s total inventory.
The new products are all available today with details on Amplitude’s website.
This news follows Amplitude’s announcement last month that it raised $30 million in Series C funding from IVP, Benchmark Capital and Battery Ventures, which brought the company’s total funding to date to $59 million. Amplitude continues to grow its business at over 30 percent each quarter and now serves more than 5,000 companies.