Shopify’s recent acquisition of the Peel Insights team has made waves across the industry. This move (https://lnkd.in/g3NuaiiG), as discussed by Rick Watson, has sparked conversations about Shopify’s interests in entering the reporting space, and what that could mean for others, including Daasity. As the CEO of Daasity, I personally see this development as an exciting opportunity - I believe it will drive more companies towards a data-driven future, especially in an increasingly complex business landscape. Additionally, the perception that Daasity is just a reporting tool is outdated - we’ve evolved far beyond that. Fundamentally, Daasity is a Composable Data Platform, as outlined by AZ16 (article in the comments). We enable consumer brands to build their own data infrastructure or leverage our expertise to build and manage it for you. What makes Daasity a composable CDP? 🔗 You can independently use our extractors, specifically built for consumer brands 📦 You can load data into BigQuery, Redshift, or Snowflake, and have read/write access to your data 📊 You can leverage our transform code to use our pre-built data models for analytics like attribution, LTV, product affinity, or leverage our transformation code as a starting point to write your own 🎯 You can push your data back into your marketing platforms to enhance your acquisition and retention marketing And that’s just the tip of the iceberg. With our recent acquisition of Red Fox Analytics that now empowers brands to pull in syndicated data like Nielsen, Spin, and non-syndicated retail data like Whole Foods, Costco, Target and more. Today, Daasity acts as the centralized hub where digital and retail data converge for comprehensive sales, marketing, and inventory insights. Whether you prefer to leverage your in-house talent or entrusting our services team, Daasity’s composable nature empowers you to build your ideal data solution That’s what Daasity is and it’s certainly not just a reporting tool. Shopify Peel Insights #analytics #shopify
eCommerce Strategy Consultant | Strategic eCommerce Consulting to Optimize Your Results | ECommerce SaaS Positioning and Go-to-Market Strategy | Organizational Change Management | E-Commerce Expert Witness
What Does Shopify's Peel Analytics Acquisition Mean? If you missed it, Shopify made another acquisition in the last few months that is just starting to get some light shed on it. The company is called Peel Analytics, and it fits the mold of many of Shopify's smaller acquisition - it is a capability that it wishes to see in its platform. In short, the capabilities reflect a larger shift in DTC. From customer file growth to customer file optimization and activation. Here are some of the capabilities I expect to come to Shopify as a result of this acquisition (based on analysis of Peel's case studies): * Filtering out any messy or junk data in-platform rather than off-platform * Creating segmented audiences group (repeat purchasers, SKU and region filters), which then interface with Klaviyo and Attentive. * Cohort reporting out of the box, in particular with regards to behavior of customers acquired via influencer discounts. * Customizable reports including LTV calculations, CAC, LTV to CAC, returning orders and customers * "Frequently purchased together" and other types of product reporting based on market basket analysis. * Some subscriber reporting that previously you may have only been able to get in subscription platforms themselves. While Klaviyo is building a CDP, I expect that Shopify feels these Audience features will be a standard part of DTC going forward, and so should not erode much from where Klaviyo is headed. First, Shopify's Shop Cash offers have recently become "Shop Campaigns" and no doubt this acquisition is part of the reason for that. Also the elevation of Customers as a key concept within Shopify seems like one of their plans. Similar to the way Shopify has wanted to be the home of all checkouts and orders, I expect Shopify has started to feel that customer segmentation and analysis should happen on-platform rather off. Who is to worry? I don't think many companies have too much to worry about generally. On the other hand, some reporting-centric companies like Daasity and Triplewhale will likely have to move further up-market to continue to compete. The "Shopify reporting" space has gotten over-crowded in the last few years which is likely one of Shopify's signals that the base platform needed upgrades. I do think some of the lower-end subscription platforms could end up in the crosshairs also. How might this shape Shopify's Platform? I don't expect this solution to do so much for mid and upper-level Shopify Plus customers, but it could give Shopify a few more reporting capabilities to add to base tiers, and it's possible that more customizable reporting could become a Plus or even an full Enterprise feature. It's also not hard to imagine a Shopify where future Enterprise users may separately for a Data or Reporting module.
CEO | Co-Founder at Daasity - Helping Consumer Brands use Data to Grow their Business
2mohttps://a16z.com/the-rise-of-the-composable-cdp/