revenue-analytics-walk-before-you-can-run-1

Revenue Analytics: Why You Need To First Walk Before You Can Run

Claritix Services, Software Leave a Comment

We are very excited that David Raab, a well known influencer in the Marketing technology domain, wrote about Claritix this week.

It’s a very fair review and one of the things David points out is that we have preferred to start with the basics of data cleansing, matching and analytics.

“Most of the work in any marketing analytics project is integrating data from multiple systems. Claritix carries this insight to one logical conclusion by offering a system that does data assembly, basic reporting, and little else.  No fancy attribution methodologies or custom journey maps here (although they’re on the way).”

He is spot-on in this observation and there are 3 reasons why we have preferred to take this approach:

Why You Need To Focus on the Basics of Analytics First

1. Most companies are still learning to walk


Despite all the hype from software vendors about predictive and other ‘advanced’ analytics, most companies we speak to are still struggling with the basics of pulling together data from their myriad systems.

They cannot get a ‘waterfall’ model of their sales and marketing funnel pulled together for a weekly report without someone spending hours manually pulling all the data together. We want to help these companies get the foundation of the house in place before building the second floor.

2. Customers don’t want to spend time on the basics


Customers who are slightly beyond the ‘walking stage’ would much rather prefer to have their internal sales and marketing operations resources
spend time on building out analyses that are very specific to their industry/product/segment, as opposed to wasting time on getting the basic metrics together.

However, due to the shortage of solutions that can deliver these ‘table stakes’ metrics to them in an accurate, time-sensitive and cost-effective manner, they do end up spending time where they shouldn’t.

“Most CMOs are struggling with “an increasing number of digital marketing solutions, touchpoints and silos of digital data.” – CMO Council Report

3. Forensics teams first reconstruct the ‘scene of the crime’


If
our Revenue Forensics approach were to be made into a TV show, it would be called ‘CSI: Revenue’.

And just as real life detectives don’t immediately try to find the ‘perp’, we too believe that we need to help customers understand where they stand in their journey towards the state of nirvana of advanced analytics.

If we instead promised them the moon and did not help them get their ‘data house’ in order, we would be doing them a disservice.

Wrapping It Up

However, we are also working with companies who are in a position to utilize more advanced analytics as we build out additional capabilities.

We will be announcing those features as they are ready. In the meanwhile, if you’re interested in learning more about what Claritix offers, let us know.