Analytics companies are growing at the speed of light. Each year a new organization pops up offering a new way to look at data. The phenomenal growth leads to mergers and acquisitions due to marketing consolidation. In this show, we will discuss the biggest analytics company acquisitions of 2018. We will share insights on why the acquisitions were made, what was the investment and how these acquisitions will benefit the end user.
5 Major Analytics Acquisitions of 2018
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Sameer & Jeremy [0:12] Thank you for joining analytics podcast series of focuses on big data and analytics and the latest trends and digital world. I’m your co host, Jeremy Roberts. And with me always is smear con. Hey Mary, how are you doing? And all of our listeners as well, which
Sameer & Jeremy [0:31] we’re on video. Yay. Yeah. So excited about this. Today, we’re actually talking about some major analytics acquisitions in 2018. We’re going to focus on five of these today. Five, there’s been quite a few, I would say maybe similar. I think you and I’ve identified what eight Yeah, eight
Sameer & Jeremy [0:51] to 10 that are big ones. I mean, there’s been hundreds of them but the big ones you know that goes into hundreds of millions and billions of dollars of acquisition they’re like
Sameer & Jeremy [1:01] yeah I mean just even go over the list is what like data Rama visible CA, genetics
Sameer & Jeremy [1:09] s CIO health analytics data x
Sameer & Jeremy [1:14] axiom, right. evolve analytics July systems magenta. The thing is, there’s one thing in common, right, we’ve all noticed them. You look through it, I started looking through the different sites. And I’ve noticed there’s one thing in common, it’s the biggest thing and I think that a lot of people still haven’t got there yet. It’s it’s data.
Sameer & Jeremy [1:34] Yeah, I agree. Yeah, visibility into
Sameer & Jeremy [1:36] data. But here’s the funny thing is that, you know, I really think that the analytics market and marketing marketing analytics professionals are really still scratching the surface of what it means to take data and analyze the data and use it properly and really understand what all that data means. Yeah, and
Sameer & Jeremy [1:54] also start to feel like there’s, if you look at the technology industry, and specifically marketing technology, and see there is a consolidation happening, you know, at one point of time, we were looking into Scott Brinker landscape from our tech and seeing like, Hey, there are so many different technologies, what was a natural next step from there on is eventually they’ll start to merge and consolidate among each other. Because those that do not are not able to get either become public or get acquired by other larger organization they have, you know, they’re, they’re at risk, you know, they have to take that next action, they have to exit the market in a very successful way for their stakeholders or shareholders and the people that are currently working in owning these companies. Yeah,
Sameer & Jeremy [2:39] nobody’s going to come to the market with a full suite, right? Nobody’s going to come to market create a brand new martek technology. And we always talk about what 2011 there’s only 150 companies 2018, almost 6000 plus. I mean, it’s insane. I’m even Scott even says we can’t count them all. They’re so out there can’t. But the thing is, they’re different flavors, right? There’s the ones like the Adobe’s and the sales forces of the world that have everything, you buy a solution you buy, sweet, then there’s ones that are the intermediaries that connect all these things together. And then the ones over here are the ones that just do a very specific thing. And I think that when these founders created these businesses, they had an exit in mind. They like our only goal is to become very, very attractive for somebody to buy us. Yeah,
Sameer & Jeremy [3:33] no, I agree. I that’s exactly what we’re going to look into. Some of these have created and exploited the niche that we’re not necessarily honed on by these big giants. And they make themselves so flavorful and so attractive for these big companies that it was done, or else to go, but acquire these companies.
Sameer & Jeremy [3:53] And the thing is, these people are identifying a niche that has really yet to be fully discovered. And, and you and I both know, being x IBM is, is that, you know, this whole big plan, Watson, before Watson was mainstream, it was something that the marketing analytics space was looking at, around understanding data, you know, really getting insights in the data. But now, data is a part of every single thing. It’s, it’s basically like the, with the increase in IoT data, really, as an element for everything. I mean, look at the search landscape to where you can actually buy search ads now on Alexa and the Google Voice, right? I mean, yeah, he never would have thought that it’s vice in your home. And it’s listening to what you’re saying. Even though you don’t think it is able to run ads through that. So it’s a little bit creepy.
Sameer & Jeremy [4:45] Creepy. Yeah, I sometimes tell my my kids to, like, you know, switch off to Google Home because you never know what it’s listening to.
Sameer & Jeremy [4:54] Well, I keep on thinking, you know, what, if I give it more information, it might give me the better selection when I ask it for something SEO
Sameer & Jeremy [5:00] thing? Yeah, hopefully it will
Sameer & Jeremy [5:03] take take take my data and I’m I don’t need to make it meaningful.
Sameer & Jeremy [5:08] disregard the PII though. Don’t forget that.
Sameer & Jeremy [5:11] Oh, yeah. forgot about that.
Sameer & Jeremy [5:15] Okay, cool. So we got five will go into these. And really what we want to do here is we’re going to talk about each one we’re going to say kind of serial, talk briefly about who they are and why. But then we’re going to try to brainstorm a little bit and this is something that we’re will organically come up with, is this idea of what’s in it for you guys? What does it really mean for you as marketers and and really real fast before we get into this, so this is definitely more in your landscape than mine smear. But when you walk into a company and you look at their marketing stack, their martek landscape within their company, how much of that stack is really piece together through custom? Or even built in API’s? Or how much of it is basically solution? Thanks for buying a unique solution from one provider?
Sameer & Jeremy [6:04] Yeah, two different perspective, like one, the first question that you asked like, how much of that connected together I would say, usually 30%, you know, it varies from like, 20 to 30% back when the technologies are integrated and talking to each other, and the rest 70% is not. And then the second part of the question, which is how much is relevant now, from an energy standpoint, from a marketing standpoint, and the end user standpoint, like, for them, everything is relevant, right? That’s the reason why they’re buying because someone wanted to buy something in order to solve some type of problem. So every single piece of that technology is relevant from their perspective. But I feel like once you start getting into the whole marketing, technology, architecture, mapping, and strategizing, conducting business objective to functional capabilities, then you end up find now that at least 40% of the technology is not something that they either are prepared for internally to manage and use, they probably don’t have the resources, they don’t have the budget to continue using it, they don’t have the functionality to integrate that technology or the technology itself is not powerful enough to be integrating to the other piecemeal, you know, products and services. So, and that’s why this is already sent is not not needed in the organization. Exactly. And
Sameer & Jeremy [7:18] a lot of is, and that’s why a lot of these acquisitions are so important that they’re bringing those capabilities within these companies, in order to best allow marketers to utilize the full potential without having to build that integration. Because as we know, when you go to it, and you say, hey, I want to integrate this tool to the other, they say, Yeah, okay, we’ll put them in a roadmap, we’ll get to it in six months. And after that, it takes them six months or a year goes by everybody’s gotten fired, your strategy is changing your buzzes change, you never get down to doing it. So and that’s
Sameer & Jeremy [7:49] one of the big thing is, although I like the fact that at least it is good for the companies, the startup companies who have made themselves favorable to the acquisition and they made a lot of money doing process of acquisition. I do think the statement that you mentioned that, yeah, once they get acquired by these big companies, you have all you have to go through all the internal processes, the internal, you know, bureaucracy, internal steps, and, you know, all the leadership and everything and then to be it is going to take a lot of time and effort to have this available to the end user. And now there are some companies that excel at bringing the acquisition and making it available to the end users. And there’s some coming to suck at it right? Yeah, I don’t manage it.
Sameer & Jeremy [8:37] Well, let’s talk about the first because I think the first example that we’re going to give is I would believe of the top experts one of the top experts in taking technologies and integrating them into the market yeah this is really the Salesforce is acquisition of data Rama and so blue let’s discuss who is data Rama
Sameer & Jeremy [8:58] so Dana Rama is was a small company based out of Israel, you know, that not that small, but they grew pretty fast. And one thing that they became specialize in what they were they were doing is when, when all the Power BI and the tabla and all the data with platforms, what they were doing is they were focusing and specializing a data visualization and not so much on intelligence, although I love these data visualization technology, because you absolutely need them but what data Rama data they said, Okay, we’re going to provide visualization capabilities, but we’re also going to have heavy focus on artificial intelligence. Now, a lot of people talk about artificial intelligence, you know, the capability of data taking its own insights and doing something about it automatically, right, you know, getting insights and automatically taking to the next level and building and building business intelligence so they built on the artificial intelligence capability and they became specialized in database platform with true AI capabilities and that’s what made them really attractive in in quite interestingly Salesforce was already doing acquisition in Israel for quite some time but this seemed to be like one of the largest one that they did in Tel Aviv so essentially you know, they acquired data or data Rama for about 100 million dollars in what’s also interesting is you two things like one it gives Salesforce the capability to expand its presence in Tel Aviv. Yeah, actually, they’re going to use data ROM is office as a major development hub. And then the early with this acquisition because data, Rama was primarily focused on the marketing audience with this acquisition, and Salesforce is going to embed these artificial intelligence capability and their Marketing Cloud product, which is absolutely phenomenal, phenomenal. Yeah,
Sameer & Jeremy [10:53] no, I completely agree. And, and with this, you know, this, this whole consolidation, you know, really what it’s doing, it’s just building that cohesive structure, that cohesive platform that allows marketers to really go in and just plug and play you know, you know, most people that use Salesforce love the Syrian capability as the base core everything and have that ability to go in there and just kind of click through and look at all the different things that they’re doing. They’ll say, you know what, I love that feature. I love that capability. Let me add this. And And now, the fact that you’re bringing in this type of visual AI, you know,
Sameer & Jeremy [11:28] it really doesn’t get better than that. You know, the thing is, I mean, if you think about it, I think the biggest barrier to entry for most people is just learning how to effectively use it. You know what I mean? I think most people think, great. I’m going to get a tool that’s, that has AI. But the problem is, what’s, what’s the worst part about AI? It’s like anything crapping crap out, right?
Sameer & Jeremy [11:54] Yeah. And then how, what is a need for at the end of the day, like, what does it mean to the business this to be using and artificial intelligence technology. And I think it’s a buzzword right now. But what I really like it by data ROM is they’ve taken the buzzword, and they have converted that to actual business case and business use case, right. So I feel it, the first statement that you mentioned, like Salesforce is definitely one of the companies that takes an ingest third party technologies and converts them to end user applications. So that I feel really good about this acquisition, because they’re going to be one that’s going to take the, you know, technology from data Rama and start providing that to their Marketing Cloud products and services. So people, they’re using Marketing Cloud services, so kind of, you know, getting to the what’s in it, for the listeners, people are using Marketing Cloud services, they are going to be benefiting from this intelligence, this artificial intelligence to make some data decisions out of it, the to extract data, and to drive meaningful insights, to have some intelligence built on a day to day usage of the marketing cloud solutions, what I
Sameer & Jeremy [13:04] think really is going to do, it’s actually, there’s going to be a large increase in consultants, onboarding consultants, technical consultants, for all these different things, because everybody wants to use AI, but nobody, no, I like that. It’s not something that’s going to go in and just, you know, tinker with, you know, you don’t just tinker with it, you have to have somebody come and teach you how to use it. And the biggest thing that we always talk about is, if you want to be a great analytics professional, you got to learn how to translate data into business use cases and exactly what you’re talking about. Yeah.
Sameer & Jeremy [13:37] Martin and goes on.
Sameer & Jeremy [13:38] If you’re just reading numbers, and you say, regurgitate those numbers in the meeting rooms to say, Why could I read that myself?
Sameer & Jeremy [13:47] Yeah, well, that’s, that’s one of the challenges like, you know, when you think about building complex models, and building sophisticated models and having that available,
Sameer & Jeremy [14:01] what’s what’s really important is how do you take this model and apply to the business so they can be productive, they can be profitable, they can expand, they can prevent churn like all these powerful use cases, that the business today and the competitive environment need. If they’re being solved by using model, then the model makes more sense artificial. I yeah, I talked
Sameer & Jeremy [14:23] to talk about it like using talking to the four horsemen of the room, right? marketing, sales product, and finance, if you can’t translate that AI data into something that those four groups of people can understand. You basically just wasted your money, you’re paying for a tool that you can’t even translate, and it’s like, yeah, yeah. Okay. Cool. So let’s go to number two. Here’s a one by Marc Ecko. You and I are both big fans of Marco, you. And I actually, I think we are first I think you. And I, his first interaction with marketing automation was with Marketa Academy. Yeah, yeah, great tool. So they acquired another product that you definitely are fond of. And I know this is something you want to really talk about is visible. And we actually had those guys on two fantastic people. So let’s talk about that one. So visible acquired. Mercado
Sameer & Jeremy [15:17] Marketa required visible here, yeah, so
Sameer & Jeremy [15:19] I’m working with a
Sameer & Jeremy [15:20] very big acquisition that happened, you know, I’m a big fan of visible have talked to, we have people from visible in on our podcast as well, exactly what I really like about visible in, you know, the powerful touch point measurement capabilities of powerful attribution capabilities that they offer, and the fact, you know, the smartness that they brought to the table was to be integrating to Salesforce. And what it made is it made the combination of digital data and offline data possible, which is possible before visible like most of the analytics digital analytics provider, they were specializing in building apps, mainly on the digital analytics capabilities, you know, you name it. And what visible did is they said, okay, instead of we’re relying on building digital analytics capabilities and attribution around it, we’re going to leverage the solution that CRM solution like Salesforce, that is using, you know, that is used by a large number of companies around the world. And we’re going to build the attribution capabilities on that. So now, marketers can literally look at the interaction between offline and online journeys they can create, they can give credit to the different marketing channels and understand the ROI impact of different marketing channel doesn’t matter if they’re online or offline. But
Sameer & Jeremy [16:38] I agree. So let’s do this. And this is something we frequently during our podcast, let’s break it down and make sure that everybody understands what we’re talking about when we say combining online and offline in the attribution, you know, there’s different types of attribution, right. There’s first click, last click, there’s linear, you know, there’s different things and we’re talking about online offline, what is the difference between that because we don’t want to confuse people, ya
Sameer & Jeremy [17:01] know, that’s a great point. So for example, let’s say for if we’re using the standard digital analytics platform, you know, what one of them that we used to work on is called IBM core metrics, right? Yep. So what it does is it allows you to measure the first interaction that the user has. So let’s say someone is on Google, they search for a particular product, they click on a PPC ad, they come to the website, they don’t make a purchase, they go back. And like tomorrow, they search the same product on Google. And they now they don’t click the PPC ad, they click the organic search listing, and they come and purchase the product. So in this case, we have two different channels, PPC and organic search as a part of the attribution journey. So if I were to say, Okay, what is my first click, and traction, PPC would be the first one that will get hundred percent of the credit for this sale. If I would say last click, then organic search will get the credit for the sale. And if I use and, you know, equal weighted model, then they’ll both great question added equal credits. But that’s only online journey, right? What if, what if, in that scenario, the second time they came from an organic search, but then after a few weeks, so they apparently landed up in a trade show event that is hosted by this company. And now they’re in the trade show, they have not been a customer yet. And they come to the trade show, they have a really good conversation with a subject matter expert. And, you know, that’s motivated badge. Yeah, they scan their badge, and now they get motivated to buy the product. So there you go, we have an offline touch fine. So before be that visible, you can only get the first few pieces of the puzzle now with visible does is because now they have scanned the badge, the data is available, and Salesforce visible is going to go back and stitch the journey between PPC, organic, and trade show to tell you the whole story. Like, Hey, wait a minute, I know you guys are only focused on the digital side of thing. But there’s a huge component that the SME conversation that happened in this straight show that help them convert to a customer. So that’s absolutely critical, you know, you probably want to give bonus, or that SME, because of that, you know,
Sameer & Jeremy [19:10] probably hire more SMEs and provide them and in these trade show, because they pay play a critical role. So so that’s what it is. So whole, offline and online journey integration is
Sameer & Jeremy [19:20] completely completely understand. And the thing is, is that
Sameer & Jeremy [19:24] I really challenge one of our listeners to come back and tell me Give me an example. In a b2b world where somebody visited your website the first time in in that one time that became a customer. Yeah, now, we’re going to happen, right? Never, ever, ever, ever. I mean, even if you want to buy candy, you go to the store, what do you do? You go up and down the aisle like five times you go to the next and then you come back, you pick up one. And you know, you put it back and you keep on trying people do this as a natural buying behavior. So yeah, totally. It’s a great one. Okay. So what’s in it for listeners? We talked about that. Let’s go to number three. This is is our buddies Accenture, Accenture, huge company. Right. So they purchased his company make sure I pronounce it grows. co genetics? Correct. Cool. So let’s talk about genetics.
Sameer & Jeremy [20:12] Yeah. So quick. Jen takes as like we were talking about data Rama Rama specialize in AI specifically for marketing intelligence. Could Jen tech is a broad set AI and big data companies. And they offer a wide variety of data services. Like for example, they offer products and services to help build, manage and deploy artificial intelligence applications. They’re offering extends all the way from data connectors, data adapters, governance rules, Model Management of the whole enchilada. So what’s fascinating about Codex is they were just, they came to exist in 2015. And what was amazing is within a matter of like, three or four years, it grew to 200 employees. So they, they definitely did something right. And Accenture immediately noticed, and they were like, okay, in order for us to extend our applied intelligence capability for their services and consulting offering, it may makes a logical sense to bring in this partner that has already built sophistication and technology around the big data and analytics component, you know, so that’s what happened, you know, they, they acquired a gigantic for an undisclosed amount. And, you know, the rest is history, you say,
Sameer & Jeremy [21:25] and then thing is, if you think about it, you know, looking at the article, you know, that the Accenture put out and they’re saying, you know, one of the biggest reasons why is that looking at the different companies, their analytics applications are, you know, putting companies that have been doing this for years before them, you know, out of business, or they’re making their they’re taking their market share. And these guys are going to run for the money, there’s got to be something special about what they do, you know, I’m not really
Sameer & Jeremy [21:58] yeah, and into speciality is one of the things that they do well, is there sort of like you’re a to z shop around data. So their premises instead of trying to worry about trying to fix the code and developing new code as a data scientists focus on building insights and business applications and lightning speed. So, you know, because they’re providing you the connector adapters, data services, governance rules and modeling services, they’re kind of one stop shop for all of your data needs. And it is, from my understanding, at least the learning initially, about the Project X is there they’re offering is, you know, we, I don’t like to use the word seamless across different businesses. But for them, it seemed to be seamless, because once you ingest the data you are, you’re bound to create those application at lightning speed. Cool. I’m looking at the the article, and they’re talking about code genetics, founded in 2015 has a team of nearly and this is big, a team of nearly 220 Big Data engineers, data scientists, machine learning engineers and software developers. That’s insane. That’s insane. Yeah, that’s that’s a lot of horsepower. On the data side.
Sameer & Jeremy [23:12] You’re definitely right about that. Yeah.
Sameer & Jeremy [23:14] And one thing that says Accenture might be doing is it’s, you know, they’re picking up the cream of the crop from it when it comes to data and intelligence professional by acquiring so it’s not just technology. It is also the people that comes behind it. That’s exactly what happened with the the Marcato and visible merger or acquisition is when I talked to some of the visible guys. And so, you know, one of the primary things that my kiddo is doing is they’re acquiring DNC intelligent folks who built this great company. Exactly. So you’re buying talent, and that’s exactly, yeah, yeah.
Sameer & Jeremy [23:46] Cool. So let’s go on to number four. This is something I guess, more near and dear to my close to your heart close to my heart. Right. So as we all know, Adobe recently acquired the e commerce platform magenta
Sameer & Jeremy [23:59] Well, there’s a you have a bigger story than that. Adobe recently acquired Jeremy Roberts thank you had their
Sameer & Jeremy [24:06] customer subject matter expertise on the data analytic side, which is also big acquisition. Congratulation, Jeremy.
Sameer & Jeremy [24:13] Thank you. Thank you. Yeah, very exciting stuff. Yeah, so enough about that. I’m not getting paid.
Sameer & Jeremy [24:22] But so the thing is, this one’s different. magenta is very different from the through talked about before talk about data, Rama visible Koji antics. These are all primarily a in a fighter’s. So the thing is, why is Adobe not going that route? Why are they go into more of an e commerce platform, and I really think it’s a play on Salesforce. I really think it’s a play on them really trying to find, you know, something that complement what they do best. And we all as we all know, it’s almost like saying, I don’t need facial tissue, I need Kleenex. Right? As a brand name to where, you know, when you talk about Adobe, you say, hey, I need Photoshop, right? Or I Photoshop this thing. It’s a brand name, they’ve killed that market, one of the things they have yet to do is really incorporate e commerce into their platform, you know, really be as you’re talking about the this is seamless integration now with, you know, the Adobe Experience cloud delivering a single platform, talking about order management, supply chain, all these different things. So I think it’s an absolutely fabulous and what’s really insane about this acquisition is you and I go a long way with magenta, right? That was one of the platforms and during a Rackspace days that we were really building relationship with, is trying to figure out a strategy to get more business from magenta, magenta commerce. So, you know, just to let our listeners know, like, if they don’t know but magenta magenta is a leading provider of e commerce platform, one of the big things that they did is they open source the whole e commerce
Sameer & Jeremy [25:58] platform so they have like 300,000 strong community of developers worldwide a very powerful ecosystem partner ecosystem and the biggest thing is the acquisition itself is also extremely basic it’s like $1.6 billion
Sameer & Jeremy [26:14] spent by Adobe or at least that’s what they decided to spend to acquire magenta is like huge big numbers and you know it’s like one of the most I would say for this year this could top very well you know,
Sameer & Jeremy [26:29] be a contra controversially like this could be one of the biggest acquisition of this year from any comes to marketing, technology, acquisitions and acquisitions,
Sameer & Jeremy [26:38] look at their full suite. So let’s do a head to head comparison of Salesforce, right versus Adobe right now. And obviously, I’m a little bit biased. So I’ll probably let you do more of the conversation here. So I don’t get in trouble.
Sameer & Jeremy [26:51] But if you think about it, what a sales forces core capability what is everything primarily built around CRM CRM and one of the do what are they What are they promote after that they promote analytics right tied to the CRM and then what else are they promote right African I
Sameer & Jeremy [27:08] yeah, yeah, I advertising With a quack position of exact target par dot, all of that, like whole Marketing Cloud is also something that they’re focusing on, which is mainly focused on email management, email marketing.
Sameer & Jeremy [27:23] And then so you look at Adobe, most people think Adobe is really built on this idea of their creative cloud. Right experience. Yeah, I think it’s experience it’s
Sameer & Jeremy [27:34] but really more so experience its content, because as we all know, content drives content drives a business in great content with a great experience really is what drives our business. So they have then they core they have their core base on content. And after that, they build analytics around it, right? They build campaigns around it. And then after that, they said, Hey, well, everybody that typically uses us usually has an e commerce platform. Let’s build that together. Yeah, and
Sameer & Jeremy [28:03] I think if you look at it, the very basic level, when you think about Salesforce, you think of sales when you think of Adobe, you think of experience, right? Yes. at a very basic level, hundred percent. Yeah. So whenever a company is all about, like, hey, I want to drive sales. That’s why I’m quickly Think of it like I need Salesforce, and I need those words
Sameer & Jeremy [28:25] like lead prospect, and QA, QA, oh, yeah.
Sameer & Jeremy [28:28] Users, actually the whole marketing ops component, and then when you think about, like, I really want to retain this customer for a lifetime, and I want to create memorable experiences. That’s what do you think about Adobe, you know, different even though they are playing in the same playing field, but they’re using a different strategy to sell their products and services, which is pretty amazing. Yeah, so
Sameer & Jeremy [28:51] Yeah, a little bit different from the rest of the list. But absolutely fantastic. And Adobe’s cool. Yeah, should award
Sameer & Jeremy [29:00] Okay, last one, and then we’ll let you guys go. Last one is,
Sameer & Jeremy [29:05] we all know what happened recently with this whole, you know,
Sameer & Jeremy [29:09] I’m hacking of personal, you know, personal databases, all the stuff everybody said. So Equifax by a specialty reporting agency data x. So let’s talk about that one. Yeah,
Sameer & Jeremy [29:21] so data x. So a little bit of background. And generally, if you look at the credit scores, they are primarily good for people, you know, when you when you go shop around for loans, or things like that, or financial instruments, your credit score is checked, and, you know, one of three out of one, it’s like, Equifax is going to be the one that’s the major provider of credit score facts, has its own intelligence and data capabilities to help score individuals based on their financial document, no financial, you know, instruments that they own and financial capabilities where they really didn’t had the sophistication was subprime areas. And what is surprising subprime is basically consumers or customers who do not have a strong financial background, yes, lack certain aspects of financial capabilities. And so that’s where data x comes in. And data x have been thriving in that area, because they provide credit information for individuals who have financial issues to the subprime housing market. So let’s also
Sameer & Jeremy [30:32] let’s also call it the alternative and I think this is heard. Yeah. And so and I think the terminology that they want to use on a Aqua Equifax is websites they talk about is one of the fastest growing alternative data reporting agencies because our minds they don’t want to talk about, you know, low credit score or low income or low anything, you know, for them. It’s a little, it’s a little bit more PC. Yeah, and I think I feel like it’s a
Sameer & Jeremy [30:56] simple example is if you go and try to buy a car, right? And even if your credit is good, you know, you’re going to probably get alone and you buy the car. But if you’re trying to buy a car, if your credit sucks, or if you have
Sameer & Jeremy [31:08] 500 or something like that, yeah, yeah,
Sameer & Jeremy [31:10] then some of these auto sellers, they come up with a new strategy to give you credit based on some other criteria, like, you know, your bank account verification could be one of them, how much risk that you bring to the table? That could be one of them, is your ID accurate or not. So that’s where data x comes in, right? So that’s where they help you sort of reaching to your experience score and getting all the data the automobile seller will probably use my data x and try to see like if this if, if they are not meeting the original criteria can when they meet this alternative criteria. And we exactly
Sameer & Jeremy [31:46] car like for example, there’s even a use case I remember going to TEDx IBM conference and they talked about utilizing a type of credit score functionality to help identify people who had the potential to get credit right but in in in a in suburban Africa right in the villages and stuff and what do they use they use phone was that phone payments they’re able to look at cell phone payments to see if if somebody was consistently using phone payments and make people yeah making phone payments and full then there is a Oh yeah, they have the ability to pay in cash or whatever means possible build make these payments they should be able to qualify for something in the same way that data access had some type of ingenuity to find those alternative ways to be able to yeah so it’s brilliant brilliant I mean everything and these these great ideas who wish I came up with something and sold you know it’s amazing and yeah so so that’s I think from from a listener standpoint, what this means is, you know, if someone wants to utilize
Sameer & Jeremy [32:59] going forward Equifax How will have the capability to expand its credit scoring offering to people who originally were not a part of that. So we’ll make them much more powerful in terms of credit scoring by this acquisition. Fantastic.
Sameer & Jeremy [33:14] So that concludes our list. So data Rama, visible CA, genetics magenta and data x. So that was it. five major analytics acquisitions of 2018. And this has been fantastic. I love the new video. It’s fun, actually.
Sameer & Jeremy [33:31] Let’s get it out on YouTube quickly. Yeah,
Sameer & Jeremy [33:34] exactly. We
Sameer & Jeremy [33:35] already had some technical challenges, but we’ll, we’ll be there very soon. Exactly.
Sameer & Jeremy [33:40] And thank you again, we’d love the questions. We love the insights. We love it when you guys say, Hey, I really want to hear this topic. Hey, we’re down as long as a cool topic. Right. Yeah, exactly. Exactly. Cool. Well, thank you again, Samir. This is always fantastic. And we’ll see you guys again.
Sameer & Jeremy [33:58] See you guys. Thank you.
Hope you enjoyed this podcast and blog post.