Based in San Francisco, CA, Mixpanel, is a business analytics service providing firm categorized as Mobile and Web Analytics to study consumer behavior using data analytics. It is the most advanced analytics platform for mobile & web which helps businesses grow by helping them understand how their users behave and use their products by tracking actions people take rather than page views.
Working of Mixpanel
It is unusual because they think page views don’t matter much and that the user behavior cannot be assumed with it. Hence, they believe in DA (Data Analytics) with which they configure what consumers want or behave like and follow it.
With a mission to help the world to study from its data, it analyses consumer interactions with web and phone applications, and provides tools for goal-oriented communication with them. It utilizes in-app A/B tests and user survey forms to conduct its analysis and send out the results. Collected data is used to build definite reports and record user business and retention. It usually works with web applications, in particular Software as a Service, but also supports mobile apps.
Founded by Suhail Doshi and Tim Trefren on June 20, 2009, it is believed that they analyse 67 billion actions each month. With team of 10 and 2 Board member and Advisors, they are running it quite confidently. They are strengthened by Y Combinator, and its list of investors includes Andreessen Horowitz, Max Levchin and Keith Rabois. Mixpanel clients are numbered almost 4000 with the likes of Uber, Klout, Spotify, WordPress, Kickstarter, Quora.
How Crucial is Data
Suhail Doshi finds it interesting that the use of data in determining who will win contests or elections being produced at surprisingly higher accuracy. It’s changing the tactics people are using to win. However, he claims uncertainty on whether it’s a positive or negative change in the long run.
He says, ‘Music is becoming more data-centric these days. If you’re a musician, the world is completely transforming from selling units in the store and seeing your spot on the billboard 100 to the number of streams and plays you get from YouTube, Spotify, or SoundCloud in order to drive distribution and improve brand recognition. I think the music industry will become much more quantified.’
In a world, where quantification has been significant in the recent time, Data Analytics has been a boom since it provides the likes of the future based on the happenings. It is logical as it takes the input from the very consumer and displays his behavioral science as the output, which is what every firm is looking for. Consumer or customer-centric firms are trying to analyse their behavior time to time and are trying to meet their needs and wants in time, thereby gaining their trust. All this has been possible with the DA.