Mixpanel, the global leader in digital analytics, announced the acquisition of DoubleLoop, a pioneer in AI-powered business value frameworks. The acquisition strengthens Mixpanel’s position as the most innovative digital analytics platform, enabling product and marketing teams to identify key business growth drivers in seconds with AI.
Earlier this year, Mixpanel launched Metric Trees which helps teams to visualize and understand the relationship between a product metric and business outcome. This powerful mapping, coupled with Mixpanel’s suite of capabilities in behavioral analysis, session replay, experimentation and feature flagging provides powerful insights that enable teams to build products and customer experiences to fuel business growth.
Across industries, there is a growing shift away from vanity metrics and toward defining metric hierarchies and causal relationships. At the same time, organizations are under pressure to move from strategy to measurement in days or hours, rather than weeks or months. Slow, manual processes for defining and aligning on metrics to support and drive strategy remain a bottleneck for many organizations.
“Metrics without context and relationships are just numbers,” said Jen Taylor, CEO of Mixpanel. “Teams need to know not only which metrics matter, but how those metrics are aligned and connected. That’s why we launched Metric Trees, and the market response has been phenomenal. With DoubleLoop, we can make this game-changing capability more accessible by infusing AI directly into the process to build hierarchies directly from strategy and real-world context.”
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CEO Dan Schmidt and CTO Sumit Gupta co-founded DoubleLoop to solve a challenge that many product teams face: shipping product features without knowing their impact on critical business KPIs. According to Schmidt, 65% of projects fail to create measurable results. DoubleLoop’s technology uses AI to turn strategy into computational models. This means that companies can automatically generate a metric tree with its unique context and proven industry patterns to surface critical links between goals, inputs, and outcomes. This helps teams instantly connect their individual work to business outcomes and continuously refine those connections as data evolves.
“We founded DoubleLoop to help product teams escape the feature factory and drive impact,” said Schmidt. “Inside Mixpanel, Metric Trees and AI can do what’s never been possible before: connect business goals directly to user behavior – at a scale that empowers thousands of teams to know with confidence which levers truly drive growth.”
Mixpanel customers using Metric Trees cite an improvement in building a shared understanding of the relationships between metrics and the ability to understand the right growth drivers for their business. They are able to understand how product performance connects to business results and take action on strategic initiatives with the confidence of knowing their impact before they start work.
“Metric Trees are about having a sustained, executive-level view of your product, not just ad hoc analysis,” said Karl Thumm, Senior Director of Data and Analytics at Zola, a leading player in wedding registry. “The added functionality around metric definitions and the ability to double-click into deeper insights makes it core to truly managing your product properly.”
SOURCE: Businesswire