When iMoneza launched, we intentionally developed a very limited set of reports – while most data is currently accessible, the software doesn’t provide much in terms of analytics. Now, with more feedback from customers and the industry, we are taking our reporting and analytics to the next level (or up about 10-15 levels).
In our exploratory phase, we initially had in mind developing a Business Intelligence (BI) platform from scratch – we certainly have the right skills and knowledge. As the theoretical scope of project continued to increase, it quickly became clear that an enterprise level BI system would be our quickest way to market, and likely provide the best user experience for a continuous improvement model for BI.
Beyond the data held close to iMoneza, our goal is to create a BI solution that allow our partner merchants the ability to combine iMoneza data with their own data, which may include systems such as Google Analytics, Adobe Analytics, Salesforce and other CRM systems, and even ad-network data. Giving our business partners the ability to merge data sets opens many more dimensions of optimizing content monetization.
Merging iMoneza and merchant data could potentially reveal that the conversion rate is for different demographics (age, region, education, etc.), which could directly impact messaging and marketing. Companies with multiple properties or regional content may determine that users in different parts of the US may raise their conversion rate by adjusting the price of content. These ideas merely scratch the surface of what can be done, and thus we realized that we need a system flexible enough to do things we have yet to consider.
In December, we identified about 12 different vendors that participated in our RFP, provided us with demos, and discussed their specific architectures and integrations. All of the vendors on our initial list are great with analytics, so we focused on the following: multi-tenant security, a great (end) user experience, seamless integration with iMoneza, and robust self-service reporting. We have now narrowed down our list to three vendors that we are taking for an in-depth “test-drive”, and we can’t wait for you to see what this looks like.