Virtuous cycle

Way way back we did a piece on how much should you spend on measurement? And it leaned on a few other studies. The tldr was that those that spent more, got better results.

Put another way, high performers spend more on analytics. Is that causation or correlation? I think it’s more of a virtuous circle, build a culture of using data & analytics, find what works, adjust/add more/refine which then naturally leads to better performance. It’s more of a culture than it is a spend more make more straight away.

But I share, as it pops up every now and again in analytics circles - and it also ties into our visualization of the week, see below. You can give the piece a read here.

We also saw Snowflake launch their own LLM, which is super interesting, each firm making their own LLMs to handle queries or predict their own use cases.

It makes sense, but what new use cases or product opportunities does it create? Keen to see how it unfolds. But it’s super smart, internal product innovation but maybe a path to new revenue. Who isn’t in to that.

A great mindset for data & analytics folks, where and how does this help create a path to new or even incremental revenue streams.

Notable stories this week

• The rise of the B2B LLM model.

• The best way to have complex conversations.

• Inside Edelmans AI LLM which tracks brand trust.

• Facts & Feelings end of April recap.

• ^ From Tim, Dashboards must die! Except… long live the performance measurement dashboard.

• How fraud could be happening on SKAdnetwork.

• Google users battle company over analytics data.

Deals/M&A

• Log analytics startup Parseable raises $2.75m.

• Wozniak’s space firm buys Orbital Insight, a space analytics company.

• Accenture to acquire Parsionate, a German data consultancy.

Data visualization of the week

• How organizations that want to be “data-driven” allocate their resources and budget. I like the tongue and cheek with this.

Smartest commentary

• “…we tried to solve this by adding more and more dashboards, then adding more and more filters to those dashboards, then killing those dashboards when they decidedly weren’t useful. ” -Tim Wilson.

Datapoints of note

• According to research from Accenture, 75% of C-level leaders plan to increase their spending on data and AI in 2024, compared to 50% that increased spending in 2023.

That’s it,

-Ben

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