Brands usually have many different marketing efforts going at once — but which ones help make money?
This week, marketers get another tool to help them answer that question. A Seattle-based startup named Transform, Inc. has launched its RevTech platform, which is designed to directly connect revenue to spending.
It takes data from a variety of impacting efforts, such as pricing, promotion, sales, store traffic and web site traffic, as well as relevant external data, including weather or census info.
Machine learning is applied to develop and refine models of analysis, and the results are reports designed for specific company roles, such as one for CEO and another for the director of marketing.
The reports include recommendations — for example, new market opportunities or how to reduce customer acquisition costs — and graphs that show trends, correlations, and regional comparisons. The platform is not self-service, as Transform sets it up at the beginning of an engagement, but users can then log on to see their reports.
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