Recently, the news broke that Optimizely acquired Netspring, a warehouse-native analytics platform.
I’ll admit, I hadn’t heard of Netspring before, but after taking a closer look at their website and capabilities, it became clear why Optimizely made this strategic move.
Simplifying Omnichannel Analytics for Real Digital Impact
Netspring is not just another analytics platform. It is focused on making warehouse-native analytics accessible to organizations of all sizes. As businesses gather more data than ever before from multiple sources – CRM, ERP, commerce, marketing automation, offline/retail – managing and analyzing that data in a cohesive way is a major challenge. Netspring simplifies this by enabling businesses to conduct meaningful analytics directly from their data warehouse, eliminating data duplication and ensuring a single source of truth.
By bringing Netspring into the fold, Optimizely has future-proofed its ability to leverage big data for experimentation, personalization, and analytics reporting across the entire Optimizely One platform.
Why Optimizely Acquired Netspring
Netspring brings significant capabilities that make it a best-in-class tool for warehouse-native analytics.
With Netspring, businesses can:
- Run Product Analytics: Understand how users engage with specific products.
- Analyze Customer Journeys: Dive deep into the entire customer journey, across all touchpoints.
- Access Business Intelligence: Easily query key business metrics without needing advanced technical expertise or risking data inconsistency.
This acquisition means that data teams can now query and analyze information directly in the data warehouse, ensuring there’s no need for data duplication or exporting data to third-party platforms. This is especially valuable for large organizations that require data consistency and accuracy.
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The Growing Importance of Omnichannel Analytics
It’s no secret that businesses today are moving away from single analytics platforms. Instead, they are combining data from a wide range of sources to get a holistic view of their performance. It’s not uncommon to see businesses using a combination of tools like Snowflake, Google BigQuery, Salesforce, Microsoft Dynamics, Qualtrics, Google Analytics, and Adobe Analytics.
How?
These tools allow organizations to consolidate and analyze performance metrics across their entire omnichannel ecosystem. The need to clearly measure customer journeys, marketing campaigns, and sales outcomes across both online and offline channels has never been greater. This is where warehouse-native analytics, like Netspring, come into play.
Why You Need an Omnichannel Approach to Analytics & Reporting
Today’s businesses are increasingly reliant on omnichannel analytics to drive insights. Some common tools and approaches include:
- Customer Data Platforms (CDPs): These platforms collect and unify customer data from multiple sources, providing businesses with a comprehensive view of customer interactions across all touchpoints.
- Marketing Analytics Tools: These tools help companies measure the effectiveness of their marketing campaigns across digital, social, and offline channels. They ensure you have a real-time view of campaign performance, enabling better decision-making.
- ETL Tools (Extract, Transform, Load): ETL tools are critical for moving data from various systems into a data warehouse, where it can be analyzed as a single, cohesive dataset.
The combination of these tools allows businesses to pull all relevant data into a central location, giving marketing and data teams a 360-degree view of customer behavior. This not only maximizes the return on investment (ROI) of marketing efforts but also provides greater insights for decision-making.
Navigating the Challenges of Omnichannel Analytics
While access to vast amounts of data is a powerful asset, it can be overwhelming. Too much data can lead to confusion, inconsistency, and difficulties in deriving actionable insights. This is where Netspring shines – its ability to work within an organization’s existing data warehouse provides a clear, simplified way for teams to view and analyze data in one place, without needing to be data experts. By centralizing data, businesses can more easily comply with data governance policies, security standards, and privacy regulations, ensuring they meet internal and external data handling requirements.
AI’s Role in Omnichannel Analytics
Artificial intelligence (AI) plays a pivotal role in this vision. AI can help uncover trends, patterns, and customer segmentation opportunities that might otherwise go unnoticed. By understanding omnichannel analytics across websites, mobile apps, sales teams, customer service interactions, and even offline retail stores, AI offers deeper insights into customer behavior and preferences.
This level of advanced reporting enables organizations to accurately measure the impact of their marketing, sales, and product development efforts without relying on complex SQL queries or data teams. It simplifies the process, making data-driven decisions more accessible.
Additionally, we’re looking forward to learning how Optimizely plans to leverage Opal, their smart AI assistant, in conjunction with the Netspring integration. With Opal’s capabilities, there’s potential to further enhance data analysis, providing even more powerful insights across the entire Optimizely platform.
What’s Next for Netspring and Optimizely?
Right now, Netspring’s analytics and reporting capabilities are primarily available for Optimizely’s experimentation and personalization tools. However, it’s easy to envision these features expanding to include content analytics, commerce insights, and deeper customer segmentation capabilities. As these tools evolve, companies will have even more ways to leverage the power of big data.
A Very Smart Move by Optimizely
Incorporating Netspring into the Optimizely One platform is a clear signal that Optimizely is committed to building a future-proof analytics and optimization platform. With this acquisition, they are well-positioned to help companies leverage omnichannel analytics to drive business results.
At Perficient, an Optimizely Premier Platinum Partner, we’re already working with many organizations to develop these types of advanced analytics strategies. We specialize in big data analytics, data science, business intelligence, and artificial intelligence (AI), and we see firsthand the value that comprehensive data solutions provide. Netspring’s capabilities align perfectly with the needs of organizations looking to drive growth and gain deeper insights through a single source of truth.
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