Digital Transformation has moved beyond business to business. By the end of 2020, 91% Organizations were carrying out some digital transformation. And is projected to invest directly in digital transformation initiatives $ 6.8 trillion in 2023.
Unfortunately, despite the money being spent on transformation, most companies do not have a long-term view of what digital business means.
“After all this time and money and effort and maybe millions of dollars, you really have to change, you have to improve. You need to know what kind of digital products and digital investments you are making Jennifer Johnson (Pictured), Chief Marketing and Strategy Officer at Amplitude Inc. “You build a product, you put it on the market and the revenue goes to the other end. But how do you know if you’re doing the right thing in the first place?
Waiting Innovations with AWS startup display cloud cloud data – Ready to get started March 24 – John WallsSiliconANGLE Live Streaming Studio host TheCUBE speaks to Johnson Exclusive interview New levels of digital business growth and customer engagement. (* Will be publicized below.)
Going beyond product counting to product knowledge
“Being a digital business is about” restructuring your business and changing the price of new digital products and services, “Johnson said. Traditional digital marketing tools have been developed to measure features such as views, perceptions or clicks. Understanding customer behavior in digital business means knowing how customer interaction is within. Digital product It itself can hurt business results.
”Eighty-five percentCompanies like ‘What kind of features should we build?’ “They’re using marketing analytics tools to answer that question.”
What digital businesses need to know is how to design behavior patterns and adapt the experience to create the desired results. This is thanks to product knowledge.
“Product Intelligence ያ connects digital products to revenue,” explains Johnson. “If you know something is working and you know every customer like that is going to do it and you can predict the outcome, why not serve everyone who looks like that?”
Amplitude is a leader in product intelligence, allowing businesses to control user behavior and know exactly where, when and how to encourage action. “Predicting and understanding and predicting and adapting, that’s what amplitude plays,” Johnson said.
Extensive democratization of product data access
When companies go to digital jobs, 49% You are struggling to understand user behavior. 63% C-suite executives are confused about how to drive more productivity. Prior to the turnaround, digital-born companies focused on digital products and realized the importance of constantly testing, refining and enhancing customer interaction and experience. According to Johnson, these were the original guardians of Amplitude. Now, with the advent of digital computing, she is seeing a “very long tail” of traditional industries interested in amplified production.
“The companies we are helping are asking, ‘How is our product related to our income?’ It’s just helping them answer the question. ” Johnson explained.
Product Intelligence will help reduce the cultural disruption caused by digital transformation and speed up the overall process, Johnson said. She describes the delays caused by the traditional process of obtaining product information in a large trade-to-consumer company.
“If you have a question about what you want to answer or a hypothesis, you usually have to send this question to a data center or data science team,” she said, explaining how it would take a few weeks to do so. Months to get an answer, which raises more questions, and therefore the process is repeated.
“Until you know the answer to your question,” says Johnson, “it’s time to find Amazon in the new digital age.”
Amplitude intervenes business intelligence and data scientist teams to deliver direct and instant responses to product management, sales, marketing, customer success, and other areas of business.
“What we’re doing is helping us bring that data. We all know it’s the crown jewel of any organization. We’re democratizing it and bringing it to all the groups that want it,” Johnson said. “When you have a touch point with a client, use this understanding to find a level of thinking you never had before and think about a world where you can actively use it. Better experience.”
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