A Look into Zuora’s Predictive Data Product
Zuora is the latest cloud company to join the predictive data market. Its new product released today, called Zuora Insights, helps to turn financial, and demographic data into actionable insights, that in turn, can boost the efficiency and operations of a business.
Zuora was founded in 2007, and is headquartered in Foster City, California. This cloud provider helps SaaS companies to manage their subscription, billing, payments, and other kinds of recurring revenue businesses. Its solutions cover a range of roles, starting from the CEO to finance, operations, and billing. Due to the nature of its business, Zuora has seen much success during the last few years.
Like any cloud business, Zuora also handles vast amounts of data, as a byproduct of its business. Since there is a ton of value hidden in the data that is produced every day, Zuora decided to put this data to good use. They want to help their customers link subscription data with other metrics of the company, so it gives them a better picture of the company’s current position, and where it is headed in the future. Armed with such information, companies can make the right decisions and come up with pertinent strategies that’ll help them move forward.
This move by Zuora is in tune with what other cloud providers have been doing over the last year. Zendesk, another company that offers customer support platform, recently launched a product called Zendesk Explore, to provide better insights into the existing data. More companies may also choose to take the same route in the future, not only because predictive data is lucrative, but also because it adds much value to their customers.
Of course, Zuora would have a marginal advantage when compared to other providers in the same space, because this company’s product is built on Salesforce. This means, data from Zuora Insights can be combined with Salesforce to provide a comprehensive picture of the customers’ businesses.
So, how can Zuora Insights help a customer? Firstly, this software is intuitive and fairly easy to use. Its dashboard gives customers a bird’s eye view of all the information, and users can explore it further for specific reports. Some of the insights it offers include the usage trends, accounts, and the identity of individual customers. In addition, it also helps client companies to compare across different periods, and users, so they can get a better understanding of where most of their revenue is generated, patterns with respect to defaults, insights into its customer base, and more.
This kind of information opens a ton of possibilities for companies to make appropriate strategies. For example, if they know the background of customers, the marketing team can come up with targeted campaigns that’ll help to expand their customer base. Likewise, if the company can get better insights into its top customers, it can do more to build better loyalty with them. Such actions will go a long way in helping a company to increase their revenue, efficiency, and profitability.
In all, Zuora Insights is likely to make a mark in the world of predictive data.