New Industry Research Finds Companies That Use Product Intelligence Are 5.5 Times More Likely to See 25%+ Growth Year over Year

by Theleaders-Online | December 14, 2020 12:00 am

SYDNEY, Dec. 14, 2020 /PRNewswire/ — Amplitude, the leader in Product Intelligence, has announced the results of a global survey that measures businesses’ attitudes and approaches for building digital products and experiences. The Amplitude Product Intelligence Report finds companies that haven’t embraced Product Intelligence as a business growth strategy are leaving revenue on the table, with most companies saying they don’t have the proper tools in place to understand and act on customer data.

Spenser Skates, CEO of Amplitude[1]
Spenser Skates, CEO of Amplitude

With the pandemic accelerating digital transformation from years to weeks, even days, there is increased urgency for companies to conceive and create exceptional digital products and experiences that attract and retain customers. The report, built from research conducted by Adience and directed by Amplitude, surveyed C-level executives, VPs, directors, and managers overseeing business and product teams to understand how businesses are adapting to their digital-first reality. While nearly every respondent agreed digital is a top priority, the report uncovered that businesses have several customer blind spots and are struggling to connect their customer insights into action, resulting in lost growth.

“Customers are forming new habits every minute, and when every interaction counts, instinct no longer cuts it,” said Spenser Skates, CEO of Amplitude. “Digital is the defining competitive edge and our research shows a clear connection between business performance and a data-driven understanding of the user experience. Companies can no longer see digital as an option – it’s make-or-break for survival.”

Key findings of the Amplitude Product Intelligence Report include:

See Amplitude’s Product Intelligence Report now and visit Amplitude to learn how businesses can better understand and act on their customer data.

Amplitude Introduces Journeys

Along with the report, Amplitude has introduced Journeys, an industry-first solution that leverages machine learning to focus teams on the moments that matter most across the entire customer journey. By evaluating the thousands of possible events along a customer path, Journeys automatically focuses teams on the few exact moments that have the greatest business impact, such as drop-off or paths which yield the highest conversion. Product teams then leverage this real-time, predictive intelligence to identify the exact friction or conversion point by user, and group customers into cohorts for targeted messages and offers to accelerate conversion.

Survey Methodology

The Amplitude Product Intelligence Report is based on data from an independent quantitative study conducted by Adience, which surveyed 359 senior-level respondents in August 2020, with 25% of those surveyed representing C-level decision-makers or business owners. Interviews were conducted in the UK, U.S., Canada, India, and Australia across B2B SaaS, financial services, retail/eCommerce, transportation/logistics, entertainment/media, consumer technology, industrial/manufacturing, professional services & consulting, healthcare & pharmaceuticals, education, and travel & leisure. Adience is a research consultancy that specializes in conducting global B2B market research. Learn more at hello-adience.com.

About Amplitude

Amplitude is the leading product intelligence platform that helps companies use their customer data to build great product experiences for digital growth. Headquartered in San Francisco with offices in New York, London, Paris, Amsterdam, and Singapore, Amplitude is the cross-platform, real-time data solution of choice for modern product and growth teams. Amplitude powers over 59,000 digital products at companies like Microsoft, Ford, CapitalOne, NBC, Hubspot, and PayPal.

Endnotes:
  1. [Image]: https://mma.prnasia.com/media2/1333959/Spenser_Skates__CEO_of_Amplitude.html

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