Nick Berry and Jordan Taylor-Bartels. Credit: Prophet
Prophet grows 309% as marketers move from quarterly reporting to forward simulation
Marketing Mix Modelling platform Prophet reports it has grown 309% over the past 12 months, with its platform now supporting more than 40 brands as enterprise organisations shift from retrospective reporting to forward-looking commercial decision-making.
Prophet's platform creates a digital clone of each client's business, continuously analysing more than 100,000 macroeconomic and behavioural signals including consumer confidence, inflation, fuel prices, employment, interest rates and category conditions.
Jordan Taylor-Bartels, CEO and co-founder of Prophet, said marketing measurement was evolving from a reporting function into a commercial decision-making capability.
"For years, marketing measurement has been built around reporting. Every quarter, every six months or once a year, marketers receive a report explaining what happened. By then, the budget has already been spent,” he said.
"Every other major commercial decision gets rehearsed before it's made. Marketing has been one of the few business functions expected to spend first and explain later. The organisations leading the charge have decided that's simply too expensive a way to operate.”
Nick Berry, Endeavour Group head of marketing for media and digital, said Prophet allowed the business to model decisions before making them.
"How media, market conditions and customer behaviour interact across the whole system — so we can move faster and stay accountable for the call," he said.
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