The product, marketing and executive teams of 8,000 of the world's leading digital companies can now consult their user data through a natural language chat.
The incorporation of OpenAI's GPT-3.5 Turbo by Mixpanel allows validating the accuracy of the analysis prioritizing privacy
SAN FRANCISCO, July 6, 2023 /PRNewswire/ -- Mixpanel, a pioneer in event analytics*, has incorporated Generative Artificial Intelligence so that companies can "converse with their data." This measure helps companies quickly understand the impact of product and marketing decisions on their user experience and business performance.
Mixpanel's generative AI application also allows you to review the queries generated by Artificial Intelligence, in order to understand the different sources of information and validate the accuracy of the reports created. All of this, without the need to expose your proprietary data to the Large Language Model ("LLM").
From now on, anyone using Mixpanel can clearly understand each user's experience simply by asking the OpenAI 'GPT-3.5 Turbo' model questions. This allows removing one more barrier for companies that want to understand how their users interact with their applications.
For example, a non-technical employee of a service company might ask Mixpanel: "Which user group performs certain desired actions most often when we raise prices during periods of high demand in our key markets?" ?" and get clear answers. A marketer will be able to quickly understand trends related to ad spend, or a salesperson will be able to see changes in revenue over time. All this thanks to the analysis that the AI builds and that is reflected in Mixpanel through trend visualization graphs.
Amir Movafaghi, CEO of Mixpanel, said, "Generative AI is the interface for future computing, and it's bringing huge productivity gains. In our world, this means it's much easier for anyone to query their data in language. clear and simple when asking the AI a question. This makes analytics truly accessible so that it can truly be used by everyone, significantly improving decision making across all businesses."
Prioritize privacy and validate accuracyDespite the enormous opportunity it represents, generative AI is not always completely accurate. That is why in Mixpanel queries generated by AI it will be possible to verify the sources of information and thus understand how a report was generated. While the AI feature will be available to all Mixpanel users, it will also be optional, so people can choose to build queries using AI or continue using Mixpanel's existing interface.
Mixpanel has proven to be a reliable and secure solution for handling user behavior data and provides valuable insights to 8,000 clients, including large companies and digital leaders like CNN, Uber and Yelp. Additionally, the addition of generative AI will put privacy first by allowing clients to restrict data being sent to the LLM, as Mixpanel will take care of analyzing the underlying data and the AI will simply improve the speed and ease with which queries are generated.
"Generative AI is somewhat comparable to electricity in that you can inject it into products to make things move faster and easier. We're using it to speed up workflows and simplify how people generate questions about their data. But this is just the beginning, and we expect the LLMs to improve data analysis in the coming years," added Movafaghi.
Traditionally, Data Analysts using Business Intelligence tools need to write complex SQL queries to analyze data, a requirement that made data analysis a niche discipline, preventing companies from getting quick answers with data at scale. . Mixpanel changed this thanks to its event-based analytics system, where low-technical employees can answer their data-related questions using a simple interface and dropdown menus. The introduction of generative AI again redesigns the data analysis process so that anyone can use Mixpanel to make better decisions, just by asking verbatim questions about their data.
Currently, a select group of customers have been selected to test this new generative AI functionality in Beta phase. The feature will be available as an optional interface, at no additional cost, to all Mixpanel users in the coming weeks.
*About event analyticsEvent analytics records every action (or event) that each user takes within a digital product, such as an e-commerce website or transportation app. This highly detailed view helps companies understand how different user groups are behaving at various points in their interaction, to answer questions like: which user cohorts are not completing registration? and also understand the collateral impact on the customer experience.
This approach is much faster and easier than traditional BI tools, as they require data to be pre-prepared and tabulated, and queries to be coded in SQL. While BI analytics can provide a graphical view of customer churn rate over a given period, it doesn't allow you to explore why users behave in certain ways, which is why event analytics is so crucial for product teams can create and enhance their digital products.
About Mixpanel
Mixpanel is an event analytics platform that allows anyone to get answers about their customer data and interactions, in a matter of seconds. Mixpanel offers real-time graphics and visualizations that show how users interact with digital products. Regardless of technical expertise, with Mixpanel anyone can focus on what really works and spend more time making strategic decisions. For more information, visit www.mixpanel.com.
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