Startup profile: Keen Decision Systems, providing a platform for better marketing decisions (+ video)

Cary startup Keen Decision Systems says its marketing platform enables faster, smarter decisions by clients.

And Keen is generating traction with clients such as Campbell’s, Church & Dwight, Eli Lilly, and other Fortune 500 companies.

The platform is called MIDA, or Marketing Investment Decision Analysis

“Very simply, Keen’s MIDA application helps marketers make better informed, faster investment decisions with more impact,” says CEO Greg Dolan.

“The system gives the decision-maker the confidence they are making the right decisions to grow their business.”

According to Keen:

“Companies, especially larger organizations, have been increasing investment in big data for years. In fact, according to a recent CMO survey, spending on data about customer behavior and marketplace activities is expected to leap from 4.6% to almost 22% of marketing budgets in the next three years (+376%).

“On the flip side, marketers say that barely a third of available data are used to drive decision making in their companies. The MIDA platform was created to solve for this, in that it leverages an organization’s full information estate for the purpose of driving better decisions.”

Keen will present its platform at the CED Tech Venture Conference on Sept. 19-20 in Raleigh.

This profile is one of a series about participating companies written, edited and published by WRAL TechWire in partnership with the CED.

Profile: Keen Decision Systems

Website: http://www.keends.com
Email contact: shawn.williams@keends.com
Address: 401 Harrison Oaks Blvd, Suite 212, Cary, NC 27513
CEO: Greg Dolan
Video link: https://www.youtube.com/watch?v=epNtbzwsohg
How many employees? 9 employees
Link to CED Tech Venture Company Profile: https://cednc.org/company-profile/keendecisionsystems

The Q&A:

What is the focus of your business?

Very simply, Keen’s MIDA application helps marketers make better informed, faster investment decisions with more impact. The system gives the decision-maker the confidence they are making the right decisions to grow their business.

What is the top pain point/business application you are seeking to address?

Companies, especially larger organizations, have been increasing investment in big data for years. In fact, according to a recent CMO survey, spending on data about customer behavior and marketplace activities is expected to leap from 4.6% to almost 22% of marketing budgets in the next three years (+376%).

On the flip side, marketers say that barely a third of available data are used to drive decision making in their companies. The MIDA platform was created to solve for this, in that it leverages an organization’s full information estate for the purpose of driving better decisions.

What makes it unique?

MIDA generally competes with traditional marketing and media mix analyses, which are largely based in historical measurement. They do not help to continuously optimize marketing investments based on the most recent information, nor do they link these decisions to a financial forecast.

Methodologically, MIDA is built on a combination of multiple information sources, which allows the system to measure both historical results and estimate future results based on a identified financial objective. Marketing plan scenarios can be run in real time to determine the optimal plan and forecast for the business.

Then, the system can be continually updated with new information, which allows the marketer to explain past results and continually course-correct and optimize investments. It becomes a comprehensive business management and decision-support system.

Why should investors be interested in your firm?

We believe that we are completely disrupting the way marketers make marketing investment decisions and the timing for change is right. Given the pace of the marketplace, marketers need to be more nimble and can no longer wait for exhaustive historical measurement analyses. We have a strong track record of driving tangible results for Fortune 500 companies across industries and we now have a version of the software that will make the system accessible to smaller brands and businesses.