Amplitude Unveils the Industry’s First Digital Optimization System
Amplitude today introduced the industry’s first Digital Optimization System, to manage, measure and optimise the business value of digital product innovation. Building on its #1 rated digital product analytics suite, Amplitude also announced the general availability of its new personalisation product, Amplitude Recommend. Recommend is the first personalisation solution which leverages customer behavior data in the digital product and machine learning models to determine which behaviors result in the optimal business outcome, such as conversion to purchase or average order size. The system then adapts each individual experience based on these insights to optimise the desired outcome.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210426005524/en/
Amplitude Recommend powers real-time product and content personalization. (Photo: Business Wire)
The world has moved to digital-first, with digital products at the center of the innovation agenda. According to a 2021 IDC report, by 2023 more than 500 million digital applications and services will be developed and deployed — an explosion of apps in just two years that equals the number developed over the previous 40. Yet even with digital at the forefront of innovation, businesses lack the ability to connect products to measurable business outcomes such as revenue and lifetime value. Amplitude is the first unified system that connects products to business outcomes and arms every team with common visibility and data, so they can answer the strategic question: “How do our digital products drive our business?”
The Amplitude Digital Optimization System helps digital teams, including product, marketing, engineering and beyond, deeply understand customer behavior in the digital product, predict which features and actions lead to business outcomes, and adapt each experience in real time to maximise its business impact. Amplitude customers are among the most loved and valued brands on the planet, from digital-native companies that are upending entire industries to 100-year-old trusted brands that are disrupting themselves through digital.
“When we started Amplitude, we had a vision to help every company build better digital products through an understanding of how people interact with them,” said Spenser Skates, Amplitude CEO and co-founder. “Today, this vision has never been more important in a world where digital is business survival. We don’t need more ‘digital experiences’ by delivering more features and content measured by ad clicks and web visits. It’s time for a new way. The winners in the next era will be the companies that understand their customers and use these insights to transform experiences from the place value is created: the digital product. That’s why we built the Digital Optimization System. With Amplitude, now every company has a fighting chance to be a digital disruptor.”
The Amplitude Digital Optimization System unifies the data, analytics, and infrastructure required to deeply understand which customer product behaviors lead to business outcomes — and to quickly and intelligently transform each experience based on these insights. Key components and new innovations include:
● Amplitude Behavioral Graph is the brain of the system. It is the deepest, fastest and smartest database of customer behavior, built for the complexity of modern digital products. Its native query engine and machine learning algorithms correlate every individual action taken across every digital product to understand and predict which behaviors are indicators of outcomes such as engagement, retention and loyalty.
● Real-Time Data Management is the foundation of the system, with data pipelines, identity resolution and data governance all built in to help ensure data is complete, trustworthy and secure. New proactive data-auditing workflows significantly improve data quality while dramatically reducing the time spent in planning and troubleshooting data issues. Amplitude surfaces data anomalies, unexpected events, and incomplete taxonomies so you can fix them quickly and get to insights faster.
● Amplitude Analytics is the industry’s #1 digital product analytics product based on G2 user rankings, bringing behavior data directly to digital teams so they can ask questions, get answers, and share findings instantaneously. For example, Amplitude Analytics can tell you which actions are the greatest predictors of retention or churn, and what behaviors are creating conversion degradation. New Executive Reporting capabilities bring every digital team and business leaders together with common data and visibility.
● Amplitude Recommend is the first self-service personalisation engine powered by machine learning, behavioral data, and product analytics. With Recommend, every digital marketing and product team can deliver product experiences in the moment of business impact that are tailored to each user, without having to depend on engineering or data scientists. Before Amplitude Recommend, only digitally-native companies with vast data science resources could craft experiences that adapt in the moment based on each customer’s past and anticipated behaviors. Now with Recommend, this same level of behavioral-driven personalisation is immediately accessible to any team.
"Delivering a more relevant experience through personalisation is a key driver of growth, but traditional manual or demographic approaches don't scale. A company could have millions of combinations of customers, content, and offers -- it's just not possible to know exactly which to present to each customer at any given time without machine learning," said Justin Bauer, EVP of Products at Amplitude. "With Amplitude Recommend we are bringing behavioral data and machine learning to personalisation for the first time. We believe this is the key to removing the obstacles to make personalisation work, at scale, without requiring an army of expensive technical resources."
"Over the past 2 years Amplitude has grown to play an integral role in enabling Culture Trip to become a more data-driven organisation at its heart. The intuitive interface and near real-time data pipeline has put data into the hands of decision-makers across the company exactly when they need it. It has enabled a culture of experimentation - where product features, content and promotional campaigns can be measured and optimised on a continuous basis - with minimal input from our central data teams. This has freed up their time to do multi-source, depth analysis that is not possible to self-serve. This approach has meant more data at both a tactical and strategic level." - Andy Jones, Head of Business Insights and Analytics at Culture Trip.
Powered by the Amplitude Behavioral Graph, Recommend intelligently adapts and personalises each customer’s experience across any digital product or touchpoint in real time, based on their behavior or the behavior of customers that act in similar ways. Machine learning algorithms and predictive models enable teams to understand the drivers of specific outcomes. For example, gaming service Jumbo Interactive used Amplitude to understand the preferences of customers who recently purchased. With Recommend, they instantly created Amazon-style recommendations across channels tailored to each users' unique behaviors, resulting in a 158% increase in checkout conversions.
The Amplitude Digital Optimization System and Amplitude Recommend are generally available today. For more information:
● Explore the Digital Optimization System
● See Amplitude Recommend in action
Amplitude is hosting its inaugural Digital Disruptors Summit, a half-day virtual event, on June 3, 2021. Amplitude will showcase its Digital Optimization System to empower every digital team to be digital disruptors, and will be joined by Amplitude customers and industry leaders, including Sue Cho, Head of Lifecycle Marketing, Calm, who will talk about their journey as a digital disruptor. To learn more and reserve your spot, register here.
Amplitude is the Digital Optimization System. Powered by the proprietary Amplitude Behavioral Graph, the Digital Optimization System enables organisations to see and predict which combination of features and actions translate to business outcomes - from loyalty to lifetime value - and intelligently adapt each experience in real-time based on these insights. Amplitude is the brain behind more than 45,000 digital products at over 1,000 enterprise customers and 23 of the Fortune 100, helping them innovate faster and smarter by answering the strategic question: “How do our digital products drive our business?” Learn more at www.amplitude.com.
Clarity PR for Amplitude
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Vantage Data Centers Provides Renewable Energy Options to Customers at All Campuses Globally6.5.2021 15:30:00 EEST | Press release
Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced that it now provides access to renewable energy options at each of its North American and European campuses to enable customers to reduce their carbon emissions. Additionally, the company has hired two experts to lead its environmental sustainability commitments across the globe. Four of the company’s campuses are currently powered by more than 99% renewable energy (hydro, tidal and wind) for critical IT load through Vantage’s utility partners, while the other campuses provide access to green power purchases and renewable energy credits through local utility partners. Vantage actively works with energy providers, customers and industry groups to advocate and invest in additional renewable energy options globally. As part of an expanded focus on environmental goals, the company named Amanda Sutton as senior director of sustainability to lead Vantage’s global sustainability program to less
Aptorum Group Enters into an Agreement with Exeltis to Develop Aptorum’s Novel Preclinical Candidate Targeting Woman’s Gynecological Conditions6.5.2021 14:00:00 EEST | Press release
Regulatory News: Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM) (“Aptorum Group” or “Aptorum”), a clinical-stage biopharmaceutical company, has entered into an agreement with Exeltis (“Exeltis”) (a division of the global pharmaceutical group Insud Pharma) to develop, manufacture and commercialize a novel preclinical candidate from Aptorum in the following territories: the European Union and Latin America (with an option to expand the collaboration to the United States). This novel candidate is intended to target woman’s health and gynecological conditions, such as endometriosis or related conditions. Under the Agreement, Aptorum Group will retain the development rights in other jurisdictions in the world, as well as the right to develop the novel candidate into a drug product. Commercialisation of the product is subject to relevant regulatory approvals in their respective jurisdictions. Dr. Clark Cheng, Chief Medical Officer and Executive Director of Aptorum Group, commented:
FedEx Delivering Critical COVID-19 Aid to India6.5.2021 14:00:00 EEST | Press release
As India and its healthcare systems face a surge in COVID-19 infections across the country, FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, is working with organizations around the world to deliver critical medical supplies and equipment during this crisis. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210506005392/en/ Critical medical supplies and personal protective equipment departing Santa Barbara, Calf., USA, bound for healthcare facilities in Kolkata, India via FedEx. (Photo: Business Wire) FedEx is currently supporting the transportation of more than 25,000 oxygen concentrators and converters through an initiative with the U.S.-India Strategic Partnership Forum and other multinational companies. An initial shipment of 1,000 critical oxygen concentrators was delivered by FedEx to New Delhi on April 30 as part of this collective. On May 8, FedEx is donating
SoftServe Charity Fund Opens ‘Positive Room’ at Dnipro Regional Children's Hospital6.5.2021 14:00:00 EEST | Press release
SoftServe’s corporate charity fund, “Open Eyes” has opened a “Positive Room” for patients of the Dnipro Regional Children’s Clinical Hospital. The Positive Room in Dnipro, the sixth such space in Ukraine, was opened at the Department of Reconstructive Surgery thanks to charitable donations by SoftServe, its employees, and other contributors. The Department helps as many as 30 children at a time recover from the most serious, life-threatening illnesses. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210506005004/en/ “Positive Room” for patients of the Dnipro Regional Children’s Clinical Hospital. (Photo: Business Wire) “We treat children with the most serious diseases: congenital malformations, chemical burns of the esophagus, disorders of the gastrointestinal tract, and tumors requiring surgery,” said Oleksandr Gladkyi, head of the Department of Reconstructive Surgery of Dnipro Regional Children's Clinical Hospital. “The roo
RMS Unveils Significant New Event Response Innovations in ExposureIQ6.5.2021 12:26:00 EEST | Press release
RMS, the world’s leading catastrophe risk modeling and solutions company, announced new innovations to ExposureIQ™ on the Risk Intelligence platform, including real-time catastrophe event visualizations and more powerful reporting. RMS also unveiled new capabilities to allow cross-portfolio accumulations across reinsurance and insurance workflows. ExposureIQ is an innovative, cloud-based exposure management application designed to help portfolio managers gain deeper insights into their books, scaling to millions of locations, enabling easy discovery of hotspots, diversification, and portfolio re-balancing. The application provides access to exposure information which leverages events and footprints from RMS Event Response and RMS’s unique HWind real-time forecasting capabilities, to help gain a quicker and more accurate assessment of potential losses before, during, and after an event. Real-time analysis and insight into portfolios allow for alignment with a company’s risk appetite, ex
Qredo Raises $11 Million in Seed Funding to Launch Decentralized Digital Asset Management Infrastructure to Unlock New Opportunities Across DeFi6.5.2021 11:37:00 EEST | Press release
Qredo, a decentralized digital asset management infrastructure and product suite, announces an $11 million seed round led by a diverse group of investors including G1 , Gumi Cryptos, Maven 11, Spartan Group, 1kx and Kenetic. “The next generation of DeFi players will be institutions that actively look for ways to enter the crypto market in a secure and compliant manner without sacrificing their ability to respond to economic opportunities,” said Anthony Foy, CEO of Qredo. Qredo uses a novel blockchain protocol that enables users to access cryptocurrencies on Layer 1 blockchains, such as Bitcoin, and Ethereum over a Layer 2 network. This innovation allows users to securely participate in new DeFi innovations such as accessing ‘cross-chain’ liquidity pools, trading collateralized derivatives, and executing cross-chain atomic swaps. This funding will fuel the next stage of Qredo’s growth, which includes doubling its R&D team and bringing in additional world-class talent at the C-suite leve
BearingPoint client success story: Boehringer Ingelheim increases data accuracy by leveraging robotic process automation6.5.2021 11:05:00 EEST | Press release
Storage conditions play a vital role in the entire supply chain of pharmaceutical products and must comply with strict regulations. From manufacturers to patients, storage conditions are essential for the quality, safety, and efficacy of medications. In a recent client success story, BearingPoint shows how it helped Boehringer Ingelheim, one of the world’s largest pharmaceutical companies, streamline and automate its material verification workflow for much greater accuracy in determining the storage requirements for its pharmaceutical products. Boehringer Ingelheim now has a more efficient material verification process, with an automated execution and the lowest risk of human errors. Management and technology consultancy BearingPoint worked with Boehringer Ingelheim in gathering data from each manual step involved in the storage process by using UiPath’s Task Capture®. A Process Definition Document was created, with a detailed As-Is and To-Be process description. BearingPoint transferr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom