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Alpharank is a leading provider of growth and outcome measurement to banks and credit unions. To do this, Alpharank integrates data from the digital advertising channels, core transaction data and account origination to provide the metrics that mean the most for the health of the institution. With Alpharank, institutions can measure their digital growth efforts through the lens of Net Present Value for each new depositor. For more information, please visit their website.
Alpharank helps its customers analyze the efficiency of their digital marketing efforts while improving net new account creation. To support their customers to be recognized as leaders in their industries and in their members' wallets, they must provide fast-paced, insightful data to make better informed decisions. As financial institutions deploy digital growth strategies, Alpharank provides recommendations and predictions.
Carlo Cardilli, COO & Head of Product, sought to enhance their product offering with best-in-class visualizations and dashboards for their customers. However, their engineering team’s core competence is applying AI to banking problems, not data visualization. Alpharank needed to look beyond its in-house team for help to implement a customer-facing analytics solution.
Once it was determined to look for a potential solution, Carlo and his lead engineer, Sid Sutton, started identifying what they would need for success. They came up with a “must have” shortlist which included:
Carlo and Sid explored “a few open source libraries,” one of them being Flourish. However, upon further evaluation, these alternative solutions did not pass the mark from both an integration and security perspective.
“We chose Explo for a combination of off-the-shelf capability, most importantly being able to use a private AWS database as a driver (Flourish can’t do that). Also, the ease of ability to allow anyone in our organization to create new visualizations by using our existing data sources.”
Alpahrank elected to use Explo Explore to activate, visualize, and share data with its customers. Explo Explore was able to help collect and visualize derived client analytics stored in Alpharanks’ Redshift database. The solution enables Alpharank’s customer end-users to securely get a line of sight to the data they need for more informed decision-making - directly in the Alpharank platform.
Working with the Explo team, Alpharank was able to implement its first Explo dashboard in just a few hours. The initial deployment included:
Data-driven analytics is a critical component of their service offering. With Explo, Alpharank was able to create dashboard templates that are reusable and enable their customers to do things like:
Alpharank’s implementation of Explo provided Carlo, Sid, and the entire engineering team with critical domain expertise, quality, and business impact, precisely:
Time Saved: Months of deployment time was reduced to just a few hours, and even more time will be saved going forward (compared to what it would take to maintain and update an in-house data visualization solution). “The actual dashboard set-up was very easy, and all I had to do was use the drag and drop options to create multiple types of visualizations.”
Eliminated “Headaches” for the Engineering Team: “The biggest headaches I would predict in that [open source deployment] process would have been setting up unique user views and making the visualizations look somewhat consistent and appealing, but Explo almost entirely makes both of those concerns a non-factor.”
Customer Support Experience:
The real win with Explo is being able to separate visualization from engineering and data science. We can focus our techs on the best analysis algorithms and get the finished products into RedShift DB. Once it's in Redshift, multiple people (who don't need to be engineers or data scientists) can quickly build dashboards and visualizations with Explo.
