RetentionX

AI for Shopify

41 followers

AI for Shopify

41 followers

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Data analysis tools

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Shopify Apps

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AI Metrics and Evaluation

RetentionX translates your data into clear actions. Take the best business decisions based on AI-driven data analysis and replace the power of an entire data science team with just one, easy-to-use tool.

Launch tags:Analytics•SaaS•Artificial Intelligence

Launch Team

Viktor.comAn AI coworker that actually does the work

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RetentionX

Maker

Hey Product Hunt 👊 I'm Alex, founder of RetentionX. Today we launch exclusively on Product Hunt what we have been working on for the last years – and we are super excited about your feedback! Our story I have spent the last 12 years of my career building e-commerce companies. As an IT guy 🤓, I know all the pains of working with data, investor reporting and business intelligence. It is still in most parts a manual job that eats a lot of time, requires highly skilled and expensive resources, and is error prone. These errors lead to wrong business decisions more often than they should. We developed RX as an in-house solution for one of my companies. When I saw the impact it had on our daily work and decisions, it was clear that we had to make a business out of it. 100k+ lines of code and 3 years later, RetentionX was born. We managed already over 60M+ transactions in our beta period. We are self-funded & bootstrapped to this point. What is it about? RetentionX is a software that provides you with the most advanced, but out-of-the-box data analysis that could only be done by months of manual work by a specialized data science team. Who needs RetentionX? Any transactional business (especially e-commerce) can benefit from our solution. It enables any business owner from day one to identify the key value drivers of their business, detect leaks and make better decisions as key metrics change. Is it just for Shopify user? No. We have developed RX to work with all kind of transactional data. Shopify is the first direct integration we offer. But any other store or business can still connect with us through our API or scheduled imports. Please feel free to contact me at alex@retentionx.com to discuss your setup. 🔥 Hottest Features - 100+ built-in analyses - Segmentation - Prediction & Forecast - Email reports - Benchmarking - Anomaly detection - AI insights ⭐ Famous Analyses - RFM Analysis - Cohort Analysis - Customer Lifetime Value Prediction - Churn Prediction - Cross-Selling Analysis - Order Gap Analysis - Return Prediction - and 100 more... 🤖 Why is it 'AI'? We all know AI is a buzzword and misused everywhere, so let me touch on that briefly: RX uses a mix of machine learning and AI. We build and train models with hundreds of algorithms to find the best-fit exclusive for your business case. They are used to answer questions such as: - What will my net sales be at the end of the year? - Which items are likely to be returned? - Which customers are at risk of churn and how high is this risk? - How valuable is a specific new customer to my business in its lifetime? Why are we here? We are looking for you and your opinion! Our ideal scenario is to find product-savvy customers who want to support building the ultimate data science solution for their and other companies. People who want to provide valuable feedback, share their needs and thoughts, and be a true sparring partner. In return, we offer free access to RX for at least 6 months. 👊 The deal We'd like to offer Product Hunt a few special deals for our launch and in exchange for your valuable feedback: - 1st customer: Lifetime free usage of RX Advanced plan (worth 399€/month) - 2nd - 5th customer: 6-months free usage of RX Advanced plan (worth 399€/month) - Free upgrades for all Product Hunt users: Choose any plan (Standard, Advanced) you want and pay only the price of the lower one for lifetime. Cheers, Alex

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6yr ago

@retentionx @alexisjst Finally a software that saves me a lot of time and hard work to analyse all the data! So looking forward to see the profit maximazing outcome using @retentionx

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6yr ago

RetentionX

Maker

@martin_karl It was great having you as a private beta customer!

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6yr ago

@retentionx @alexisjst the build-in analyses are just awesome...

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6yr ago

RetentionX

Maker

@krickstr Thank you Oliver!

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6yr ago

@retentionx @alexisjst is the lifetime offer still valid? If yes, how do I redeem it?

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5yr ago

You guys are collecting a whole lot of user data and shop data. End to end encrypted? Tell me about your data security policy.

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6yr ago

RetentionX

Maker

@devon_meadows Hi Devon, great question. For the user data you can opt-out and/or anonymze it as it is also for some shop owners a data privacy thing to not share it with 3rd parties. Without sharing too much about our exact technology stack, I can say that the data is protected by Network Isolation, Role-based access management & End-to-end encryption. We will improve with two factor auth for the non Shopify users. But you know best that security is an ongoing thing! Our aim is to have at least the security you have while using Shopify and to have always the control about your and your customers data. For that we implemented various hooks where you can always see as a shop owner what data we have and provide possibilites to delete it.

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6yr ago

@alexisjst Wow - this looks awesome. I love the name. :) As a marketer that works with ecommerce specifically, would definitely want to give this a try. How effective does the AI work between different kinds of ecommerce business types and business models? (E.g. Large vs Single/Small Catalogs, Consumables vs Durable Products, Luxury vs Commodity, etc). Does it require some kind of minimum volume for it to be able to predict well?

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6yr ago

RetentionX

Maker

@webjoe Thank you Joseph & great question! Our forecast and prediction engines runs against 200 different models and algorithms to see which one fit best for your individual data set & business model. This is done by keeping a random sample out before training and validating the models against it. The one with the best result wins and is used. Regarding minimum data: The forecasts can be a max of 1/3 of the data you provide. That means if you have 1 year of data you can get 6 months of forecast. For predictions the limit is at around 500 transactions, but for sure the more you have the more accurate it gets and the better the engine learns. Ping me in a PM if you want to learn more about it!

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6yr ago

Viewst

Alex, congrats on the launch! Sounds like a great product! Would it be applicable for B2C SaaS sales analyses?

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6yr ago

RetentionX

Maker

@victoria_duben Thank you & very good question Victoria! Thats also something we are thinking about right now. We planned with this in mind, but this will be available approx from Q3 2021. We want to add a lot of analyses which are shaped for SAAS models only to really cover all needs. Stay tuned!

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6yr ago

It looks like a data science assistant. Does it work for SaaS businesses as well as it does for ecommerce @alexisjst?

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6yr ago

RetentionX

Maker

@vishal_srivastava3 Hi Vishal! Great question! Its planned. We will have a dedicated saas version in 2021. Right now it works great for every transaction based business. For recurring models we would like to add some new functionalities. The prediction part will work even better for saas models.

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6yr ago

@retentionx.com, Hi Alex! Your product looks absolutely brilliant to me. I was actually wondering if you accept or is there a way of investing in your company? You mentioned you are bootstrapping but I was curious on this front. Thank you

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6yr ago

RetentionX

Maker

@job_pop Thank you Ray for the awesome feedback! We are evaluating this right now. I can keep you updated. Lets connect on LinkedIn: https://www.linkedin.com/in/ajost/ Looking forward to speak!

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6yr ago

Amazing what the Team of RetentionX build. I was honored as a private beta user and now first customers. Everyone is talking about major KPIs but the majority cannot measure it and moreover read the fundamentals out of it. Its so business critical and RetentionX solves it. Valuable Data, Analysis and Insights about the core of your business model. We build already a set of analysis by ourself but switched to RetentionX as it is more comprehensive and absolutely eye opening. Missed such a product for a long time!!

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6yr ago

RetentionX

Maker

@fabianbender Thanks a lot Fabian, you've been an essential part through our journey!

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6yr ago

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