Shrinking Big Data for campaign planning and mid-campaign adjustments
Datorama, the Israel and US founded marketing analytics platform recently announced the securing of $3M in series A funding from Cedar Fund and Eric Schmidt’s Innovation Endeavors. The company states that the funding will be used to support the continued development and marketing of Datorama’s self-service cross-channel marketing analytics platform.
When Big Data technologies first hit the business market, marketing analysts and other stat-dependent professionals were like kids in a candy store. But quickly it became apparent that Big Data was so good at what it did, analysts had more statistical candy than they could possibly muscle down within any sort of practical time-frame to catch marketing trends before they began to shift, making the old data obsolete. Other than the broader strokes of market planning, real-time analysis and reaction to influence the direction of marketing initiatives mid-campaign has been something that’s very difficult to do effectively.
Because size matters
Enter Datorama, an SaaS management platform that filters Big Data to inform marketing strategy on both the granular and aggregate levels. For real-time analytics, Datorama enables marketers to see the statistical effectiveness of segmented elements of their campaign (individual channels or events etc.), getting snapshot views to answer the questions of which elements are hitting their engagement numbers and driving results, which are exceeding expectations and which are falling flat.
On the larger scale, the platform shows the cross influence that all the major marketing channels have upon each other; TV, social media, Search Engine Marketing (SEM), online display & video, programmatic, email, internal sales data, print, etc.
In both small scale and big picture instances, Datorama designed their platform to be managed by marketing personnel, cutting out the IT middlemen so that campaign adjustments can be made as soon as the numbers come in:
“What stands out about Datorama is the ease and speed with which a client can test the platform, and immediately collect actionable insights,” says Doron Alter, Investment Partner at Innovation Endeavors. CEO & co-founder Ran Sarig added his thoughts expressing a similar sentiment, “Having worked with marketers and agencies for the last eight years, we established Datorama and developed our cross-channel marketing analytics platform to finally solve the industry’s biggest pain point – understanding which marketing is working and which isn’t.”
Datoram was founded in 2012 by Ran Sarig and Efi Cohen. The company has offices in Tel Aviv, New York and Sydney. This latest investment adds to a $750K seed round secured from private investors in 2012. Total capital raised by the company to date now standing at $3.75M.
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