Factori

How Factori found high-intent buyers in target markets for its audience datasets and APIs

Introducing Factori πŸ‘‹

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Background πŸ“

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Introducing Factori

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Factori is a leading data provider globally , with a mission to be the go-to external data partner for businesses who want to gain a competitive edge in today’s AI-first world. And we do this by offering a diverse range of external datasets and APIs, such as POI, Mobility, Identity, Interest, Intent and Consumer Graphs.

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Factori's data offering

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This data is used by some of the world’s largest businesses to power several core use cases. We prioritize data security and adhere to the highest standards of privacy compliance and offer flexible delivery options tailored to our clients' preferences.

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What’s the origin story of Factori?

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Factori was founded on the vision of being able to help large enterprises make better decisions by answering questions that are not possible with their own data. The world of AI today is data hungry and having high quality data to train internal AI/ML models is crucial along with augmenting enterprise data intelligence initiatives at scale, and Factori is at the forefront of providing data solutions for this purpose.

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Whose problems does Factori solve? What are these problems?

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Factori's data solves a wide range of use cases, predominantly in consumer intelligence and analysis.

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In retail and e-commerce, understanding consumer insights with regards to their behaviors and patterns can inform media planning, enhance personalized marketing and product offerings.

In adtech and martech, this data can help inform audience targeting, personalizing messaging and do marketing measurement, increasing marketing effectiveness.

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In financial services, our data is used for enhancing fraud detection systems by identifying fraudulent actors and behaviors, while real estate firms might leverage it for optimizing site selection based on consumer traffic patterns and demographics.

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In enterprise AI & ML initiatives, our data supplements and augments training data and other data enrichment requirements for data scientists building models for business intelligence and decisionOps applications.

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The Challenge πŸ€”

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What was preventing Factori from growing its data business?

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We wanted to increase the reach and build our demand funnel for our datasets as well as a platform to launch our API solution.

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What difficulties were you encountering when it came to monetizing data?

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We had the immediate need to fine tune our lead generation efforts due to a shortage of qualified leads with the requisite purchase intent and budget, which is critical for sustaining pipeline and revenue growth. Moreover, an insufficient reach was impeding the ability to connect with potential buyers in the desired geographies and markets. Compounding these challenges are security concerns about the hosting data on third-party storage, which are perceived as a significant risk by many companies.

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The Solution πŸͺ„

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Monda seamlessly addresses these challenges. Monda offered a user friendly platform to list our data products with enriched listing descriptions, share detailed dataset attributes and host sample data as well. This made it easier for us to reach out to potential data buyers & showcase key features of Factori's datasets, which ultimately resulted in relevant demand from the marketplace.

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Via Monda, Factori is enable to list products with one click on:

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1. Databricks Marketplace:

Factori were able to publish their entire data product catalog to Databricks Marketplace instantly via Monda

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2. Google Cloud Analytics Hub:

Monda enables Factori to sync data products to Google Cloud Analytics Hub

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3. Datarade Marketplace:

Browse Factori data products and samples on Datarade Marketplace

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With Monda, publishing to these different data marketplaces took days, instead of the months usually required for such integrations. To sum up, Monda has given us a predictable flow of qualified, legitimate leads from a healthy array of customer types across channels.

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Outcomes πŸ’Έ

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What are business outcomes you wouldn’t have achieved had it not been for working with Monda?

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We have seen our reach increase significantly on a monthly basis and that has contributed in building brand outside the platform as well. The trusted reviews on Monda's platform helped us to stand out in the market and showcase buyer’s trust. Also, we have seen significant growth in our revenue pipeline with Monda and, making it a major revenue contributor every quarterly. Also, opportunities we generated are spread across industries: advertising services, academic researchers, supply chain companies, data intelligence businesses, and many more.

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A Word from Monda πŸ’¬

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Factori is one of Monda’s oldest partners. It’s great to see them using our Monda to enhance their data monetization efforts. The APIs that Factori offers are fuelling AI-centred use cases across industries, so it’s great to see them being brought to a wider cohort of customers across different data marketplaces.

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