It’s not the data that companies collect, but the data that’s analyzed that can lead to higher revenue, bigger profits and a more successful business. For nearly a decade, a company called Mixpanel has been helping over 26,000 companies analyze user data and detect the newest trends to grow their business. Vice President of Global Sales at Mixpanel, Pierre Berlin, gave RewardExpert the inside story about the growing company.
9 Trillion Data Points
San Francisco-based Mixpanel was founded in 2009 by two college students, Suhail Doshi and Tim Trefren. Berlin said they founded the company with “the mentality that accurate behavioral analytics is an important cornerstone for every company with a digital presence aiming at being customer-centric and data-informed.” Since then, the company has grown rapidly. It now has offices around the world, and just opened new locations in London and Singapore as it scales up its international presence. Last year alone, it processed 9 trillion data points and released over 3,100 updates.
Gain Insights With Mixpanel’s Platform
Mixpanel’s products are designed to help users get the scoop on trends going on within the company, both with user behavior and revenue data. “Through our powerful yet user-friendly analytics platform, companies are able to gather insights to learn why things are happening, experiment with new experiences and messages, and continually iterate for growth, across any platform,” said Berlin. The analytics platform helps companies enter what Mixpanel calls the innovation loop. The loop starts with collecting data, identifying trends, understanding the data, setting goals and taking action. Berlin said Mixpanel can also help companies answer key questions. “Our features like user flows, messaging, A/B testing, dashboards, and machine learning enable quick exploration of user data and give customers answers to detailed questions about where opportunities for growth are, all without needing to know SQL and advanced statistics.”
Using AI To Improve Performance
Mixpanel also recently created a feature called Predict to sift through the mountains of data that have been created. Predict uses artificial intelligence to personalize messaging to various groups based on their likelihood of taking a key action. In fact, Mixpanel has published reports targeting certain industries, including financial services and retail. The reports give a comprehensive view of data points and events that companies can use in plotting strategy.
How Mixpanel Helps Companies Thrive
Berlin pointed out several examples of how Mixpanel has helped clients achieve their goals. “We have heard back from specific customers who have seen amazing increases like +400% increase in user retention (Hinge), +5% increase in upgrade conversion (Docusign) and +$300K annual savings (US Bank),” he stated.
Why Choose Mixpanel?
Berlin points out many ways where Mixpanel stands out from the the competition. Berlin said besides award-winning service, it’s reliability that counts. “We ingest twice as much data annually as our closest competitor without dropped data and have query speeds of <1 second. We are constantly working hard to stay in front of our competitors by not only being easy to use but also listening to the needs of our customers.” Mixpanel also retooled its pricing recently, shifting to a model based on monthly tracked users.
In The Mix For The Future
Mixpanel has big plans for the future. It has been ramping up development and building new products. The new tools will help customers better analyze and take action with their data. “We’re expecting even more growth and innovation to better serve our customers in 2019,” stated Berlin. To find out if Mixpanel’s tools are right for your business, check out https://mixpanel.com/.