Big Data as a Service Applies Data Integration, Data Science and Machine Learning to Deliver Understanding to Marketing Decision Makers
conDati today announced the first commercial release of conDati Marketing Analytics, a cloud-based service that applies data integration, data science and machine learning to help marketers understand and improve the performance of digital campaigns. conDati Marketing Analytics blends siloed data from multiple martech systems to deliver a single, unified data asset.
That data asset is processed, analyzed, modeled and projected to produce complete, accurate visibility into digital campaign performance. conDati is the first truly modern marketing analytics platform, providing real-time understanding of campaign performance to marketing leaders and practitioners and replacing spreadsheet-based tracking metrics for marketing departments of all sizes.
The company targets the largest areas of digital marketing spend and activity, combining campaign performance data from every important martech source. Data collected includes revenue, ad cost, sessions, transactions and goal conversions in a company’s campaign results. Data sources include Google Analytics, Adobe Analytics, Google Adwords, DoubleClick, Facebook Ads, Bing Ads, organic search and SEO, as well as email and social marketing. conDati aggregates and consolidates this information into a single data asset, without the use of IT department or consulting resources or expensive services projects.
Founded by a team of renowned data scientists and successful Silicon Valley executives, conDati has recently completed a $4.75 million Series A financing round. “Our mission is to take marketing departments from using spreadsheets to manage campaigns to using state-of-the-art data science and visualizations – overnight,” said conDati CEO Ken Gardner. “We provide ‘understanding at your fingertips’ to marketing decision makers at price points enterprises of all sizes can afford.”
Featuring Plug-and-Play Ease of Use and Quick Results
Within days, conDati can be up and running, saving marketers time and money while delivering complete visibility and predictive analytics with just a few clicks. conDati helps marketers pinpoint the highest- and worst-performing programs and campaigns. This enables the shifting of spend away from non-performers as needed – achieving greater return on digital marketing in a short period of time.
Powerful and Intuitive Capabilities, Driven by Data Science
conDati revolutionizes the marketing analytics space by alleviating the need for marketers to log into multiple different dashboards and systems that show only a fraction of available marketing performance data. “A large majority of marketing departments currently use manual data assembly and spreadsheet reporting to make marketing spend decisions. This has been widely called ‘spreadsheet hell.’ The large number of martech silos has made it very challenging to get a handle on campaign performance,” Gardner said.
Powerful Visual UI
Dashboard design and navigation have been stuck in place for the last decade. Navigation is complex and requires expert knowledge for success, with the result that most senior marketing leaders refuse to use dashboards. conDati’s UI is modeled after consumer user experiences from Apple TV, Netflix, Amazon Prime Video and other consumer products. “We’re providing simple, easy, instant navigation in a visual UI. The experience is much like selecting a movie or TV show to watch. Touch a dashboard in the navigator UI, and it opens instantly. Touch it again to close and select another. Drilling is built into all of the natural places, enabling the discovery process. The objective is to enable the discovery process without distracting the user with complex navigation and overloaded dashboards,” Gardner explained.
“With conDati, the same ease of use and ease of understanding that consumers expect on their smartphones and tablets are being brought to the UI of an enterprise application,” Gardner said. Easy-to-understand and easy-to-navigate visualizations display key analyses of marketing campaign performance, showing status of campaigns in current, correct and complete terms, with the same frequency as the data source reports – typically at least once a day, versus the hours and days currently required to collect, compile and report on marketing campaigns using manual techniques.
Modeling, Anomaly Detection and Predictive Analytics
With the ability to aggregate and integrate all campaign data in one place, conDati is also the first marketing application to deliver valid and rigorous predictive analytics about future campaign performance. It monitors all active campaigns for performance anomalies, both positive and negative, and triggers configurable alerts to marketing leaders as needed to investigate and take action. conDati also helps marketers calculate and demonstrate the value of marketing to the business overall and enables them to identify problems as they occur and to capitalize on opportunities as they happen.
“Marketing analytics based on incomplete and obsolete data are now a thing of the past,” commented John Zicker, Chief Data Scientist for conDati. “We’ve engineered a solution that reduces digital marketing costs while saving the elapsed time caused by both data latency and manual processes from the event to the insight. Marketing teams from here on out are going to be able to take control of their destiny, rather than wondering what worked and what didn’t.”
Scalable, Affordable Cloud Infrastructure and Customer Proof
conDati solutions leverage a world-class cloud infrastructure that delivers 24/7/365 reliability and scalability. In addition, the disruptive economics of cloud computing allow conDati to offer pricing that every digital marketer can afford.
conDati delivers on-demand, affordable and actionable data science to online businesses. Initial conDati Marketing Analytics platform customers include Discount Dance Supply and Pepperdine University, as well as other clients in e-commerce, media, higher education and business-to-business technology. Each has used conDati-powered insights to change their digital marketing campaigns and business strategies dramatically for optimum results.
According to John Miller, CTO of Discount Dance Supply, conDati enables the company to identify issues, fine-tune strategy, and then adjust online marketing spend for maximum value. “conDati has helped us identify the ’80/20′ nature of our digital campaigns – including holiday promotions and flash sales – by showing us where digital marketing spend is most effective. With the insights from conDati, we have consolidated our strategy and spending into our most successful channels, and our results are showing the impact.”
UK might need negative rates if recovery disappoints – BoE’s Vlieghe
By David Milliken and William Schomberg
LONDON (Reuters) – The Bank of England might need to cut interest rates below zero later this year or in 2022 if a recovery in the economy disappoints, especially if there is persistent unemployment, policymaker Gertjan Vlieghe said on Friday.
Vlieghe said he thought the likeliest scenario was that the economy would recover strongly as forecast by the central bank earlier this month, meaning a further loosening of monetary policy would not be needed.
Data published on Friday suggested the economy had stabilised after a new COVID-19 lockdown hit retailers last month, while businesses and consumers are hopeful a fast vaccination campaign will spur a recovery.
Vlieghe said in a speech published by the BoE that there was a risk of lasting job market weakness hurting wages and prices.
“In such a scenario, I judge more monetary stimulus would be appropriate, and I would favour a negative Bank Rate as the tool to implement the stimulus,” he said.
“The time to implement it would be whenever the data, or the balance of risks around it, suggest that the recovery is falling short of fully eliminating economic slack, which might be later this year or into next year,” he added.
Vlieghe’s comments are similar to those of fellow policymaker Michael Saunders, who said on Thursday negative rates could be the BoE’s best tool in future.
Earlier this month the BoE gave British financial institutions six months to get ready for the possible introduction of negative interest rates, though it stressed that no decision had been taken on whether to implement them.
Investors saw the move as reducing the likelihood of the BoE following other central banks and adopting negative rates.
Some senior BoE policymakers, such as Deputy Governor Dave Ramsden, believe that adding to the central bank’s 875 billion pounds ($1.22 trillion) of government bond purchases remains the best way of boosting the economy if needed.
Vlieghe underscored the scale of the hit to Britain’s economy and said it was clear the country was not experiencing a V-shaped recovery, adding it was more like “something between a swoosh-shaped recovery and a W-shaped recovery.”
“I want to emphasise how far we still have to travel in this recovery,” he said, adding that it was “highly uncertain” how much of the pent-up savings amassed by households during the lockdowns would be spent.
By contrast, last week the BoE’s chief economist, Andy Haldane, likened the economy to a “coiled spring.”
Vlieghe also warned against raising interest rates if the economy appeared to be outperforming expectations.
“It is perfectly possible that we have a short period of pent up demand, after which demand eases back again,” he said.
Higher interest rates were unlikely to be appropriate until 2023 or 2024, he said.
($1 = 0.7146 pounds)
(Reporting by David Milliken; Editing by William Schomberg)
UK economy shows signs of stabilisation after new lockdown hit
By William Schomberg and David Milliken
LONDON (Reuters) – Britain’s economy has stabilised after a new COVID-19 lockdown last month hit retailers, and business and consumers are hopeful the vaccination campaign will spur a recovery, data showed on Friday.
The IHS Markit/CIPS flash composite Purchasing Managers’ Index, a survey of businesses, suggested the economy was barely shrinking in the first half of February as companies adjusted to the latest restrictions.
A separate survey of households showed consumers at their most confident since the pandemic began.
Britain’s economy had its biggest slump in 300 years in 2020, when it contracted by 10%, and will shrink by 4% in the first three months of 2021, the Bank of England predicts.
The central bank expects a strong subsequent recovery because of the COVID-19 vaccination programme – though policymaker Gertjan Vlieghe said in a speech on Friday that the BoE could need to cut interest rates below zero later this year if unemployment stayed high.
Prime Minister Boris Johnson is due on Monday to announce the next steps in England’s lockdown but has said any easing of restrictions will be gradual.
Official data for January underscored the impact of the latest lockdown on retailers.
Retail sales volumes slumped by 8.2% from December, a much bigger fall than the 2.5% decrease forecast in a Reuters poll of economists, and the second largest on record.
“The only good thing about the current lockdown is that it’s no way near as bad for the economy as the first one,” Paul Dales, an economist at Capital Economics, said.
The smaller fall in retail sales than last April’s 18% plunge reflected growth in online shopping.
BORROWING SURGE SLOWED IN JANUARY
There was some better news for finance minister Rishi Sunak as he prepares to announce Britain’s next annual budget on March 3.
Though public sector borrowing of 8.8 billion pounds ($12.3 billion) was the first January deficit in a decade, it was much less than the 24.5 billion pounds forecast in a Reuters poll.
That took borrowing since the start of the financial year in April to 270.6 billion pounds, reflecting a surge in spending and tax cuts ordered by Sunak.
The figure does not count losses on government-backed loans which could add 30 billion pounds to the shortfall this year, but the deficit is likely to be smaller than official forecasts, the Institute for Fiscal Studies think tank said.
Sunak is expected to extend a costly wage subsidy programme, at least for the hardest-hit sectors, but he said the time for a reckoning would come.
“It’s right that once our economy begins to recover, we should look to return the public finances to a more sustainable footing and I’ll always be honest with the British people about how we will do this,” he said.
Some economists expect higher taxes sooner rather than later.
“Big tax rises eventually will have to be announced, with 2022 likely to be the worst year, so that they will be far from voters’ minds by the time of the next general election in May 2024,” Samuel Tombs, at Pantheon Macroeconomics, said.
Public debt rose to 2.115 trillion pounds, or 97.9% of gross domestic product – a percentage not seen since the early 1960s.
The PMI survey and a separate measure of manufacturing from the Confederation of British Industry, showing factory orders suffering the smallest hit in a year, gave Sunak some cause for optimism.
IHS Markit’s chief business economist, Chris Williamson, said the improvement in business expectations suggested the economy was “poised for recovery.”
However the PMI survey showed factory output in February grew at its slowest rate in nine months. Many firms reported extra costs and disruption to supply chains from new post-Brexit barriers to trade with the European Union since Jan. 1.
Vlieghe warned against over-interpreting any early signs of growth. “It is perfectly possible that we have a short period of pent up demand, after which demand eases back again,” he said.
“We are experiencing something between a swoosh-shaped recovery and a W-shaped recovery. We are clearly not experiencing a V-shaped recovery.”
($1 = 0.7160 pounds)
(Editing by Angus MacSwan and Timothy Heritage)
Oil extends losses as Texas prepares to ramp up output
By Devika Krishna Kumar
NEW YORK (Reuters) – Oil prices fell for a second day on Friday, retreating further from recent highs as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather.
Brent crude futures were down 33 cents, or 0.5%, at $63.60 a barrel by 11:06 a.m. (1606 GMT) U.S. West Texas Intermediate (WTI) crude futures fell 60 cents, or 1%, to $59.92.
This week, both benchmarks had climbed to the highest in more than a year.
“Price pullback thus far appears corrective and is slight within the context of this month’s major upside price acceleration,” said Jim Ritterbusch, president of Ritterbusch and Associates.
Unusually cold weather in Texas and the Plains states curtailed up to 4 million barrels per day (bpd) of crude production and 21 billion cubic feet of natural gas, analysts estimated.
Texas refiners halted about a fifth of the nation’s oil processing amid power outages and severe cold.
Companies were expected to prepare for production restarts on Friday as electric power and water services slowly resume, sources said.
“While much of the selling relates to a gradual resumption of power in the Gulf coast region ahead of a significant temperature warmup, the magnitude of this week’s loss of supply may require further discounting given much uncertainty regarding the extent and possible duration of lost output,” Ritterbusch said.
Oil fell despite a surprise drop in U.S. crude stockpiles in the week to Feb. 12, before the big freeze. Inventories fell by 7.3 million barrels to 461.8 million barrels, their lowest since March, the Energy Information Administration reported on Thursday. [EIA/S]
The United States on Thursday said it was ready to talk to Iran about returning to a 2015 agreement that aimed to prevent Tehran from acquiring nuclear weapons. Still, analysts did not expect near-term reversal of sanctions on Iran that were imposed by the previous U.S. administration.
“This breakthrough increases the probability that we may see Iran returning to the oil market soon, although there is much to be discussed and a new deal will not be a carbon-copy of the 2015 nuclear deal,” said StoneX analyst Kevin Solomon.
(Additional reporting by Ahmad Ghaddar in London and Roslan Khasawneh in Singapore and Sonali Paul in Melbourne; Editing by Jason Neely, David Goodman and David Gregorio)
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