Product Analytics is the Number One Measurement of Digital Success, New Report By Harvard Business Review Analytic Services Sponsored by Amplitude
AsiaNet 88366
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
Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=386721
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
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。