New ‘Story Types’ give organizations richer insights by identifying trends in customer behavior
OAKLAND, Calif. – March 11, 2020 – Marketing teams often struggle to adjust campaigns based on performance when the unexpected happens. And traditional BI dashboards are the culprit, because they are expressly designed to showcase metrics you already know to track.
With its automated business analysis (ABA) platform, Outlier discovers unexpected changes and patterns in data. It presents the potential root cause of change automatically, guiding marketers toward the most relevant and critical campaign insights on a daily basis. For marketers, this means unexpected behavior tied to any campaign can be flagged quickly, reviewed and used to adjust programs, accordingly.
Stories for Richer Context
As part of its ABA platform, Outlier’s daily Stories provide customers with the top 4-5 questions they should be asking about their business. Dozens of Stories are available, offering contextual information on behavioral data changes, related data and potential impact, as well as possible causality factors. Outlier recently launched the following new kinds of analysis:
- Launch Performance – Understanding campaign or product launch performance metrics helps marketers optimize campaigns over time. The Launch Performance Story compares launch data against prior launches to see how they compare. For example, a marketer can use the Launch Performance Story to determine how sales of a new product, such as a shoe, are performing over the first week of the launch compared to previous shoe releases for a similar timeframe.
- New Normal – The hardest part of working with data is knowing whether you can trust it. Organizations track hundreds of KPIs daily. Outlier’s New Normal Story flags unexpected changes to any of these metrics and communicates when the most recent values have significantly changed to create a new normal level. For example, it helps marketers determine whether a decrease in conversion rates signals a temporary shift or a new normal rate they can expect to see in the future.
“Outlier helps customers discover the unknown automatically, with minimal effort and no need for complex data analysis. We also work closely with our customers to understand their needs. This helps us launch new Stories each quarter that enable companies to extend how they can learn from their data,” said Sean Byrnes, CEO, Outlier. “We are constantly expanding the types of analysis Outlier can do, and these additions unlock even more insights for our customers.”
As marketing teams work to create more personalized and targeted campaigns, the impact of a campaign performing better than typical or worse than typical is something companies need to know quickly. Through ABA, companies can create stronger performing campaigns, adjust to customer and data behavior changes with more agility and improve revenue generation.
Expanded Ad Data Insights
Another new feature of the Outlier ABA platform is an expansion of advertising analysis and metrics. The ABA platform now analyzes 300% more Facebook Ad dimensions in order to determine any unexpected behavior. It can provide a weekly or monthly view of Facebook Ad performance data and offers potential root cause analysis, providing context on campaign performance insights. Additionally, companies will be able to understand the underlying cause of changes based on the Outlier Root Cause Analysis feature that supports Facebook Ad analysis.
Outlier, based in sunny Oakland, California, helps global consumer, financial services and life sciences organizations identify unexpected changes within their critical business data. The Outlier automated business analysis platform uncovers unexpected patterns and relationships using advanced artificial intelligence and machine learning algorithms. Organizations can integrate Outlier with existing sources of data within minutes, allowing leaders to gather business insights quickly, identify potential opportunities and address any unexpected data.