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Data is a significant piece of the loyalty puzzle for marketers. The more time they can spend on deriving insights from data, the quicker marketers can glean actionable customer insights.
Springbok Beta is a cloud-based SaaS product that was created at Informatica Corporation. The product, which can impact the amount of time marketers earmark for data cleansing and analysis, is a data preparation and transformation tool that was built to help the non-technical business user reduce the time it takes to clean, prepare, and transform data to prepare it for analysis.
Loyalty360 caught up with Keyur Desai, Vice President of Strategy, Informatica Corp. to learn more about this new and free product.
What prompted the creation of Springbok Beta?
Of the time that a business user typically spends on business analysis, 60-80% of their time is spent on trying to put together data, and only 20-40% of their time is actually spent on deriving business insights from the data. With Project Springbok, we aim to flip that division of labor to allow a business user to spend at least 80% of their time deriving business insights from the data and at most 20% of their time putting together data.
What’s behind the name?
We want a business user to be able to move with speed and agility when they navigate their own business landscape, and the Springbok is an African animal that exemplifies speed and agility.
How can this impact marketers in their data collection and analysis process?
Marketing managers in finished goods companies often obtain competitor pricing from third-party sources. However, they are unable to react to these competitor prices for the simple reason that combining this data with pricing data for their own products is a very time-consuming process. By the time they combine it, the new competitor prices have already been published. If a marketing manager was able to combine this data in a timely manner, they would be able to offer promotional pricing in targeted markets and, in turn, secure more revenue for their company.
Springbok will allow a non-technical Marketing Manager to:
Access the emailed Excel sheet containing competitor pricing, and another containing their internal product pricing.
Then, based on product attributes, combine the two sheets, enrich the result through a few clicks to view the competitor price against Internal Price. This gives them a basis to decide on a targeted price.
When the next competitive sheet arrives, simply, refresh your analysis in Springbok through a single click.
How does the technology actually work and how does it quicken the entire data process for marketers?
Springbok automatically finds problems with your data, and lets you fix them with a single click.
Springbok suggests useful ways for you to combine different datasets, and lets you combine them effortlessly.
Springbok suggests useful summarizations of your data, and lets you follow through on the summarizations with a single click.
Springbok easily exports your prepared data directly into your Business Intelligence tool for immediate analysis. You do not have to tell your Business Intelligence tool how to interpret the prepared data.
Springbok allows you to access data from your cloud or on-premises systems with a few clicks, and then automatically keep it refreshed. It will even tell you what data changed from the last time you saw it.
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