New Industry Research Finds Companies That Use Product Intelligence Are 5.5 Times More Likely to See 25%+ Growth Year over Year
SAN FRANCISCO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Today, at its annual Amplify event, Amplitude, the leader in Product Intelligence, announced the results of a global survey that measures businesses’ attitudes and approaches for building digital products and experiences. The Amplitude Product Intelligence Report finds companies that haven’t embraced Product Intelligence as a business growth strategy are leaving revenue on the table, with most companies saying they don’t have the proper tools in place to understand and act on customer data.
With the pandemic accelerating digital transformation from years to weeks, even days, there is increased urgency for companies to conceive and create exceptional digital products and experiences that attract and retain customers. The report, built from research conducted by Adience and directed by Amplitude, surveyed C-level executives, VPs, directors, and managers overseeing business and product teams to understand how businesses are adapting to their digital-first reality. While nearly every respondent agreed digital is a top priority, the report uncovered businesses have several customer blind spots and are struggling to connect their customer insights into action, resulting in lost growth.
“Customers are forming new habits every minute, and when every interaction counts, instinct no longer cuts it,” said Spenser Skates, CEO of Amplitude. “Digital is the defining competitive edge and our research shows a clear connection between business performance and a data-driven understanding of the user experience. Companies can no longer see digital as an option — it’s make-or-break for surival.”
Key findings of the Amplitude Product Intelligence Report include: