Thanks to the power of Google Analytics and online databases, businesses now have volumes of precious data about their customers. The hard part is figuring out what all those numbers mean.
Enter
RJMetrics, a company that creates custom business intelligence software for large e-commerce sites, translating obtuse numbers into real-time metrics. Now, with the beta launch of their "dashboard," RJMetrics is going a step further, handing the metrics back to the clients so they can use the generated charts and tables to inform timely marketing agendas.
Typically, if an e-commerce site wants to know the value of a customer over time or how much revenue their Facebook campaign is generating, the answers require complex calculations.
"The kind of analysis that people want to do or have been doing takes a painstakingly long amount of time," says Matt Monihan, UX designer for RJMetrics. "We take that workflow away -- you have a chart that's constantly updated with new data that you don't have to manage."
Founders Bob Moore and Jake Stein developed RJMetrics while working for the VC firm
Insight Venture Partners where their jobs included gathering metrics on potential investments. After creating countless Powerpoint decks, they realized their process could be automated and that the findings would be invaluable to businesses.
Their signature offering,
cohort analysis, identifies consumer behavior among groups. Customers who purchase on a certain date, for example, might have a projected lifetime value. Illustrating and responding to these patterns is increasingly critical as online businesses focus on longterm customer relationships.
"People care more about customer lifetime value because that data is now available," says Monihan. "There's been a ton of data for as long as e-commerce companies have existed and it's been dormant. Now people can unlock the data."
The company launched in Camden in 2009, but moved to Center City last year to make room for new growth -- their workforce grew from 15 to 26, and their client base has doubled to 130. They are currently hiring for positions in software engineering, programing, marketing and sales, and product management.
Source: Matt Monihan, RJMetrics
Writer: Dana Henry