Mixpanel Buy Adds AI to Metrics Definition Tools

In San Francisco, digital analytics firm Mixpanel has announced the acquisition of DoubleLoop, whose AI-based tools provide a framework helping business to identify the metrics most closely aligned with their success, and align their strategy accordingly.

Mixpanel says the buy strengthens its solutions for product and marketing teams looking to identify key business growth drivers. Earlier this year it launched Metric Trees, a tool helping teams to visualize and understand the relationship between a product metric and business outcome - this complements its existing software for behavioral analysis, session replay, experimentation and feature flagging, to help clients hone their products and customer experiences.

DoubleLoop's technology also allows businesses to generate a 'metric tree', allowing individual teams to connect their own work to business outcomes and continuously refine the impact they have.

The firms say business is seeing 'a growing shift away from vanity metrics and toward defining metric hierarchies and causal relationships' - but notes that companies are also under pressure to speed up the latter process. Jen Taylor (pictured), who joined Mixpanel as CEO last month, comments, 'Teams need to know not only which metrics matter, but how those metrics are aligned and connected. That's why we launched Metric Trees, and the market response has been phenomenal. With DoubleLoop, we can make this game-changing capability more accessible by infusing AI directly into the process to build hierarchies directly from strategy and real-world context.'

CEO Dan Schmidt, who founded DoubleLoop with CTO Sumit Gupta, adds: 'Inside Mixpanel, Metric Trees and AI can do what's never been possible before: connect business goals directly to user behavior - at a scale that empowers thousands of teams to know with confidence which levers truly drive growth.'

Web site: www.mixpanel.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.