Analytics leaders highlight the potential of generative AI at Mixpanel's annual EMEA customer forum
Speakers identified a variety of use cases, from building analytics queries with natural language to rendering graphs with AI.
LONDON, July 6, 2023 /PRNewswire/ -- Mixpanel, the event analytics pioneer*, recently hosted its annual EMEA client forum in London, where over 100 product and analytics leaders from the world's most exciting digital innovators The world came together to brainstorm, share best practices, and hear from peers who have used event analytics to create outstanding digital products.
A key topic of the forum was the role generative AI will play in product analytics, with speakers from companies including telecom giant AT
Instead of having to prepare queries, analytics leaders anticipate being able to chat with AI using natural language to get quick answers from their product data. For example, instead of writing a Structured Query Language (SQL) query to extract specific information from a data set, or using more modern and intuitive workflows like Mixpanel, leaders saw potential in simply asking a question about generative AI. linked to their analytics tool, such as "At what stage of the registration process are we seeing the most declines?" AI chat could be used in this way to create meaningful visual representations of data, such as charts and dashboards, eliminating the need to manually build queries.
Hazal Muhtar, Head of Global Product Analytics at leading fintech Wise, explained: "We are using Mixpanel to better understand what our customers want from their Wise product experience, particularly our newer SME customers. My team guides our colleagues, but we also put Mixpanel right in their hands. In the most effective digital companies, data analysis and interpretation go beyond data scientists. I look forward to seeing how generative AI will enable people with no data background to get started to ask questions."
Experts also saw generative AI being used to identify anomalies and blind spots in data sets that can be difficult to detect with manual methods. By identifying emerging anomalies at an early stage, proactive steps can be taken to address them, allowing for more efficient and accurate analysis.
"Generative AI has the potential to transform product analytics," said Natalie Kouzeleas, VP EMEA & LATAM at Mixpanel. "We heard from some of the most prominent professionals in the industry at this year's customer forum on a variety of topics, but generative AI kept showing up. Those who work with customer data to create better product experiences know they can help to do more and empower more people to ask questions about the data that inform decision making."
Integrating generative AI into analytics tools can make data insights more available to all team members, creating an environment where insights become an integral part of further discussion, problem solving, and decision-making processes. Team members who may have previously been reluctant to attempt data analysis become more comfortable using the data, interpreting it, and obtaining insights. In fact, many of the speakers explained how they were already making significant progress with the existing Mixpanel user interface.
Vasileios Papageorgiou, Principal Analyst at gaming software company Playtech, commented: "We are making it possible for hundreds of betting brands that license our casino, sports and retail betting games to easily view and ask questions about their user data with Mixpanel. For example, pop-up messages can provide players with valuable information and resources, such as reminders to take breaks, set limits on their gaming activity, or access self-assessment tools.By integrating these messages into the online gaming experience, brands can help encourage responsible behavior and reduce the risk of problem gambling.
Leon Sucharov, Director of Technical Innovation at gaming software giant Playtech, explained: "We are making it possible for hundreds of gaming brands that license our casino and sports betting games to easily view and ask questions about their gaming data. user with Mixpanel. Previously they couldn't see things from the player's perspective, now they can easily see what's working and what's not working for users and make continuous improvements."
Guy Barkat, Product Analytics Lead at eToro trading app, added: "Before Mixpanel, we used BI and it took us weeks to code SQL queries, tabulate the data, and finally publish a dashboard. We now have 300 Mixpanel users who they ask questions about our data in minutes or even seconds. We still have BI capabilities, but our senior leaders often bypass the process and jump right into Mixpanel. Bringing AI chat into the mix will make it easier, so more conversations and decisions can be informed by data."
Participating in this change and taking advantage of new innovations in the coming months will be essential for companies that want to make data insights available to more teams and colleagues.
But Paolo Sabatinelli, product manager at Italy's leading digital real estate portal, Immobiliare.it, explained that a degree of caution is needed: "I have my reservations about making analysis too easy. We need to make sure there are controls and trade-offs so people who don't have experience working with data don't make unintentional mistakes We know AI isn't always accurate, so there needs to be a data-savvy person in the process and a way to check the work of the AI AI".
*About event analyticsEvent analytics captures every action (or event) that each user takes within a digital product, such as an e-commerce site or transportation app. This very granular view helps companies understand how different groups of users behave at various points during their experience, to answer questions like: which user cohorts are leaving during signup? Using Mixpanel, it's now also possible to understand the revenue impact of these customer experience issues.
This approach is much faster and easier than traditional Business Intelligence (BI) tools that require data to be prepared and tabulated. While BI analytics can provide a view of how many customers have abandoned, it doesn't allow you to explore why users behave in certain ways. That's why event analytics is so crucial to product teams who create and continually improve the world's most successful digital products.
Mixpanel is an event analytics platform that allows anyone to get answers from their customer and revenue data in seconds. It offers powerful graphics and real-time visualizations of how users interact with digital products. Regardless of technical expertise, anyone can focus on what works and spend more time on their best ideas with Mixpanel. To learn more visit: www.mixpanel.com
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