The more volatile the economy, the more valuable data becomes.
To thrive amid uncertain markets, organizations need to get smarter, more agile and more efficient. That requires accurate, up-to-date data that encompasses every aspect of business operations — and can be combined in one destination and analyzed holistically.
This basic reality — instability requires insight — is why we’re confident that Fivetran will continue to grow and thrive, even as tech valuations fluctuate.
We’re grateful to be in our current position: We’ve doubled our revenue since our last fundraise seven months ago, Gartner named us the fastest-growing cloud ELT data provider in the market, and we’re backed by investors like General Catalyst and Andreessen Horowitz. And the cloud data infrastructure market continues to grow rapidly, despite market instability.
We anticipate even better relative growth in the coming year, as more and more businesses turn to data-driven insights to weather fluid conditions.
In other words, it’s a great time to partner with Fivetran, whether to grow your career or accelerate your journey towards data maturity.
How data creates resilience in difficult markets
In uncertain or contracting economies, voluntary business initiatives often become mandatory. Increasing efficiency or leveraging market opportunities might be a matter of survival — instead of temporarily dulling your competitive edge, failure in these areas might threaten your viability as a business.
Data-derived insights can guide organizations through difficult times, providing a buffer against losses and even sustaining growth. Here are a few of the ways Fivetran customers leverage modern data infrastructure to handle downturns.
This is an essential strategy in volatile markets, and its effectiveness is proportional to the scope of the data-derived insights you can generate. Among other initiatives, businesses will want to:
- Eliminate supply chain inefficiencies
- Optimize inventory by procuring the exact amount of product at the right time
- Understand which products are selling best and invest in them
- Analyze the performance of retail vs. online and prioritize accordingly
Fivetran customer Schüttflix, a construction logistics firm, is a great example of supply chain optimization. The company used Fivetran to centralize customer, supplier and partner data to gain transparency into its supply chain operations and ensure that it had the right ratio of partners within a 50 kilometer radius of its construction sites. This dramatically increased its operational efficiency, margins and market competitiveness.
Another critical strategy during contractions is to identify and exploit all available growth opportunities. Is there a way to optimize the customer experience at the point of sale? To increase investment in the most popular features of a product? To better understand customers and personalize marketing? Insights derived from data are essential to all of these efforts.
1-800-Flowers used Fivetran to combine their own data with purchased data from multiple gifting sites. They were able to deeply personalize the customer experience and identify new cross-sell and upsell opportunities.
A global sportswear brand used Fivetran to do something similar, combining customer apparel data with data from its fitness tracking apps, which allowed it to build highly detailed customer profiles that improved engagement and loyalty.
Increase business agility
Knowledge is power — and agility. Businesses should supply relevant, up-to-date data to as many people as possible so that decisions can be made in real time, with as many perspectives and as much brainpower as possible bearing on the process.
Another Fivetran customer in logistics used its modern data stack to provide data to as many people as possible as rapidly as possible, so that decision-making was not confined to executives in the C-suite but spread across the organization. Everyone with relevant expertise could weigh in as events were unfolding, and decision-making improved even as it accelerated.
Executives increasingly understand the value of data in uncertain markets
As the Wall Street Journal recently pointed out, even as the valuations of many tech companies are falling, demand for software that drives productivity and efficiency is growing. That demand is strong across industry sectors, from pharmacy giants like Walgreens to apparel retailers like Carhartt and software titans like Salesforce.
CIOs across verticals appreciate the power of data to increase efficiencies and identify opportunities, and they expect their investments in data technologies to benefit their companies both now and in the future. Carhartt CIO Kristina Agusti told the Journal that if the economy declines in the future, “these investments will help.”
In short, now is a great time to join us, either as a teammate looking for a challenging, stable career or a customer looking for an innovative data integration partner that will be around for the long haul.