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Product Analytics is the Number One Measurement of Digital Success, New Report By Harvard Business Review Analytic Services Sponsored by Amplitude Shows

SINGAPORE, Mar. 22, 2021 /PRNewswire=KYODO JBN/ --

Product Analytics has overtaken legacy marketing analytics to measure digital

customer experiences

Amplitude, the operating system for digital business, today unveiled sponsored

research conducted by Harvard Business Review Analytic Services that reveals

product analytics is the number one measurement for digital customer

experiences. The survey and report, "Making the Leap to a Digital-First

Enterprise,"[https://info.amplitude.com/harvard-business-review-report] shows

the shift in how digital business leaders are measuring the impact of digital

experiences in the new era, with product analytics in the top spot over legacy

measurement sources including web analytics, marketing attribution analytics,

business intelligence tools and surveys.

Amplitude customers Ford Motor Company, Care.com, and Match were interviewed by

Harvard Business Review Analytic Services for the report, which included

insights from 295 global business executives at companies ranging in size from

hundreds to tens of thousands of employees, across a variety of key industries.

The report uncovered five new pillars critical to laying the foundation for

digital business success in the new digital-first era, including:

-The digital-first era is here to stay: More than three quarters of executives

surveyed (78%) said digital adoption has accelerated and will never return to

previous levels, with customers having formed new and lasting digital habits.

92% said now is a unique opportunity to capitalize on digital acceleration.

-Digital product is the epicenter of the digital business: 58% of executives

cited a focus on user engagement as the number one indicator of a digital

product's long-term success. This highlights the shift from measuring how to

'get the customer in the door', with metrics such as ad clicks and website

traffic, to measuring how customers are realizing value within the digital

product as the new benchmark for digital success.

-Net Promoter Score is fading in relevance: Net Promoter Score (NPS) used to be

the holy grail of measuring customer sentiment and loyalty. Now, only 16% of

executives see customer sentiment scores such as NPS as important to a digital

product's long-term success, highlighting a key shift from measuring

after-the-fact customer sentiment to real-time user engagement within the

digital product experience as the critical digital success factor.

-Data culture is a differentiator: 43% of executives cited the lack of a

data-driven culture as the top challenge to making the leap to a digital-first

business. Nearly 40% of executives also cited the inability to analyze their

customers' full experience across devices and products, and a lack of

centralized data, as key challenges.

-Expectations are high and the competition relentless: 81% of executives

believe user expectations for great digital experiences have never been higher,

and 69% said competition for customer loyalty has never been more fierce,

highlighting the urgency and criticality for all digital businesses to rethink

how they deliver customer value in the new era.

"We are living through a digital-product revenue revolution, centered around

using digital products to completely redesign the value we create for

customers," said Jian Wei Hoh, head of business design at Ford Motor Company,

in the report. "Everything that people do has a digital experience aspect to

it. Digital products help us get closer to the customer by seamlessly

integrating into their digital centric customer journeys."

"There are now two types of companies emerging faster than ever — digital

disruptors and those being digitally disrupted," said Jennifer Johnson, Chief

Marketing and Strategy Officer, Amplitude. "To survive in this new

digital-first era, companies need a fundamentally new approach to understanding

digital customer behavior, predicting which behaviors translate to business

outcomes and adapting digital experiences to maximize business outcomes. You

cannot get this visibility through ad clicks and web traffic. The new digital

business metric to unlocking growth is measuring where value is created and

exchanged — in the digital product. Measuring digital success through this lens

needs to be at the core of every digital business."

To learn more about the report read our blog post

here[https://blog.amplitude.com/harvard-business-review-digital-disruption] or

access the full report here

[https://info.amplitude.com/harvard-business-review-report].

About Amplitude

Amplitude, the operating system for digital business, is ranked #22 on G2's

list of Best Software Products. Headquartered in San Francisco with offices in

New York, London, Paris, Amsterdam, and Singapore, Amplitude helps

organizations deeply understand their digital customer behavior, predict the

actions that correlate to business outcomes, and quickly adapt the customer

experience to maximize revenue. More than 40,000 digital applications at

companies like Microsoft, Ford, CapitalOne, NBC, Hubspot, and PayPal use

Amplitude to answer strategic questions about how digital customers use their

digital products, and where to place their digital bets to maximize revenue.

Connect with Amplitude

Read the Blog: https://blog.amplitude.com/

Engage on Twitter: @Amplitude_HQ

Connect on LinkedIn: https://www.linkedin.com/company/amplitude-analytics

Amplitude, Inc.

631 Howard St, Floor 5

San Francisco, CA 94105

SOURCE: Amplitude

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   Caption:  Amplitude has unveiled a sponsored research conducted by Harvard Business

Review Analytic Services that reveals product analytics is the number one

measurement for digital customer experiences