SumAll integrates Foursquare, adds location to its existing data visualization orgy

/// SumAll integrates Foursquare, adds location to its existing data visualization orgy

October 1, 2013  |  Blog

When it comes to business intelligence, more data in means better decision making. SumAll has built an entire business this fact, enabling SMBs (small- and mid-size businesses) and enterprises to connect data sources from their ecommerce, social, payments, digital marketing, Web analytics, and project management platforms, among other sources, into a single visualization dashboard.

Today, SumAll is announcing the integration of Foursquare check-in data to this already extensive list of some 2,000 data sources. This may seem like a trivial or incremental upgrade, but it’s far more significant given that this is the first location-based data stream available on the platform. For the first time, businesses will be able to compare virtual website visits to physical brick-and-mortar store visits and gain insights into which types of digital marketing and customer promotions the most effective way to drive visits, and ultimately revenue.

“Foursquare has been a highly requested data source by customers over the last 2.5 years,” says SumAll President Catherine Gluckstein. “With their reach, it’s among the best ways to understand the correlation between location-data and other marketing data points. Things rarely happen in a vacuum and that includes visits to physical business locations.”

SumAll, although still in beta, has seen explosive growth in usage of its platform, growing from 25,000 to over 80,000 businesses using its platform since May of this year, according to Gluckstein. While the bulk of these users fall into the SMB bucket, the product has also been adopted by large corporations like Starbucks, Pandora, EA, and SIEMENS, among others. Today SumAll tracks more than $2 billion in revenue, 290 billion social actions, and 190 billion site visits, the company says.

Foursquare has registered more than 4 billion customer check-ins since launching four years ago, and has 35 million registered users and 1.4 million active businesses currently using its platform. Among the many major brands actively driving users to check-in using the app are Wallgreens, ESPN, Pepsi, and Redbox.

It’s one thing to analyze Foursquare checkins or ecommerce purchase data in isolation. The value of SumAll is that it allows businesses to visualize data from Foursquare, Facebook, Twitter, and Instagram, as well as Google Analytics, Google AdWords, eBay, PayPal, Shopify, and 2,000 other sources simultaneously over a series of customizable visualizations. One particularly data-driven business, for example, connected 121 individual data streams to its SumAll account, according to the company.

The goal of this data orgy is to reveal correlations and trends between marketing efforts and targeted business outcomes like customer engagement and revenue. It offers both a big picture and a granular level look into what’s driving results for a business.

SumAll soft-launched its Foursquare integration at roughly three weeks ago and reports having “several thousand” businesses integrate the platform, indicating that it’s proving a popular addition.

SumAll has raised a total of $7.5 million in equity funding, across two rounds from investors including Battery Ventures, Wellington Partners, and General Catalyst Partners. The company also raised $2 million in debt from Silicon Valley Bank in conjunction with its July 2013 acquisition of German social media monitoring company TwentyFeet. Through this acquisition and natural organic growth, SumAll is now deployed in 30 countries globally.

One of the more interesting elements of SumAll’s position as a central clearinghouse for business intelligence data is the company’s ability to anonymize and aggregate this data and draw insights across its user base. For example, the company can establish benchmarks like the average revenue rates within a category, the “value” of a like or a tweet, the number of photos or check-ins required to drive a single sale, and the best time of day or best day of the week to send a social promotion.

SumAll has proven to be a popular resource among its user base and continues to add to its value proposition with the addition of additional data integrations and product features. But the two-and-a-half-year-old New York startup has yet to monetize its platform, although Gluckstein indicates that a paid premium version of the platform could be coming by year’s end. The key challenge ahead will be for the company to convert this existing audience to paid users, something that is far from a sure bet.

Businesses engage with customers and implement new marketing initiatives daily. In isolation, these digital bits and bytes is about as interesting as the reams of paper that would be required to print it out. But when combined, businesses are able to extract insights into the effectiveness of their various strategies and campaigns.

SumAll and companies like it stand to become more necessary as time goes on. The key will be making this data analysis simple and approachable for mainstream business leaders and taking big data analysis out of the hands of the engineers.

Link: SumAll integrates Foursquare, adds location to its existing data visualization orgy

PandoDaily – Michael Carney

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