conDati is a provider of analytics for digital marketing that help companies drive value from their cloud-based marketing applications and improve digital marketing ROI. Below is our recent interview with Ken Gardner, CEO & Founder at conDati:
Q: Ken, tell us something more about conDati’s cloud-based data science application?
A: conDati’s cloud-based data science application delivers the next generation of marketing analytics, creating a single unified data asset from siloed martech systems. This provides marketing leaders with descriptive analytics to visualize real-time financial and goal performance for digital campaigns, as well as predictive analytics that deliver statistically meaningful forecasts of future campaign performance.
Q: You’ve been recently named the winner of the 2018 Pitch Competition sponsored by USAA; could you tell us something more?
A: The competition consisted of presentations to a judging panel by nine finalists selected from among dozens of applications from leading-edge AI startups. The industry all-star judging panel included Hans Morris, Managing Partner of NYCA Partners; Manoj Saxena, Chairman of Cognitive Scale and the first General Manager of IBM Watson; and Wayne Peacock, President of the Property and Casualty Insurance Group at USAA.
conDati was selected as the winner based on its innovative use of data science techniques to create intuitive, real-time visualizations of massive volumes of marketing data. conDati’s dashboards eliminate time-consuming manual reporting from multiple systems and provide end-to-end and top-to-bottom financial performance analyses of all of an enterprise’s digital marketing campaigns. They also monitor campaigns for irregularities and anomalies that require human attention and decision.
Q: Can you give us more insights into your solutions?
A: conDati revolutionizes the marketing analytics space by alleviating the need for marketers to log into multiple different dashboards and systems that show only a fraction of available marketing performance data.
Most marketing departments today still do their performance analytics on spreadsheets. Someone goes from one martech system dashboard to another every day (or week), extracts a subset of data regarding key performance indicators, and manually pastes it into a spreadsheet. That process is slow, expensive, incomplete, often inaccurate, and, by definition, behind the times. So conDati’s first value proposition is to eliminate manual reporting by creating a single unified data asset that blends the siloed data from multiple martech systems.
That data asset is processed, analyzed, and modeled to produce complete and accurate visibility into digital campaign performance. conDati helps marketers pinpoint the highest- and worst-performing programs and campaigns. This enables the shifting of spend away from non-performers as needed – achieving greater return on digital marketing in a short period of time.
With the ability to aggregate and integrate all campaign data in one place, conDati is also the first marketing solution to deliver valid and rigorous predictive analytics about future campaign performance. It monitors all active campaigns for performance anomalies, both positive and negative, and triggers configurable alerts to marketing leaders as needed to investigate and take action. conDati also helps marketers calculate and demonstrate the value of marketing to the business overall and enables them to identify problems as they occur and to capitalize on opportunities as they happen.
conDati solutions leverage a world-class cloud infrastructure that delivers 24/7/365 reliability and scalability. In addition, the disruptive economics of cloud computing allows conDati to offer pricing that every digital marketer can afford.
Q: What is unique about your technology? How it works?
A: There are about 7,000 cloud-based marketing technology applications available, and among these, many vendors are tackling different problems in marketing analytics. As far as we know, conDati is the only solution that delivers continuous campaign performance monitoring, reporting and analytics.
The big vendors all offer analytics solutions. Two of the most important are Google Analytics and Adobe Analytics. You can get much of the data out of these tools that you can get from conDati – if you have the time to invest to become expert in their systems and 6-8 hours per day to spend generating reports and absorbing them. Or, you can spend 10-15 minutes per day with conDati to get a full picture of how your campaigns are performing, right now.
There are other unique elements to conDati’s solution, a critical one being that no other marketing analytics solution we have seen provides real-time revenue and campaign anomaly detection or generates statistically valid revenue trajectory forecasts. Other than spreadsheets, the only alternative that we are aware of is to implement your own data warehouse, license your own report writer, acquire APIs to all your applications and understand their idiosyncrasies, and then hire a database administrator, a report builder, a business analyst, and a data science team. That’s about $1 million and a year or two of effort to create, with operating costs of about $500K per year. Or, you can subscribe to the conDati Marketing Analytics service for a few thousand dollars per month and be working with your data in under a week. We think conDati’s “data science in the cloud” is much more effective in terms of both time and cost.
The story is similar with Salesforce and other martech solutions – they integrate their own data very well, but they don’t integrate information from other sources particularly well at all – especially if companies rely heavily on both outbound email campaigns and digital marketing campaigns. conDati was built to manage both types of digital activity.
Dashboard design and navigation have been stuck in place for the last decade. Navigation is complex and requires expert knowledge for success, with the result that most senior marketing leaders refuse to use dashboards. conDati’s UI is modeled after consumer user experiences with Apple TV, Netflix, Amazon Prime Video and other consumer products.
Q: What are your plans for the next six months?
A: conDati’s current focus is to scale our customer base following our recent commercial launch at the end of May. There are a variety of questions and problems in performance marketing that can be addressed by different machine learning algorithms, and we are working with our early customers to understand those problems in order to prioritize them and solve the most important.