After three years in development, Prophet, a new predictive intelligence platform, has arrived and the digital marketing world is buzzing with excitement. The ambitious venture is backed by a seed investment of A$5 million and aims to close the A$1 trillion deficit caused by data blind spots and Google's cookie suspension. The startup, which is backed by industry heavyweights including media mogul Anthony Catalano and technology entrepreneur Matt Lockman, uses Nobel Prize-winning mathematics to enhance business decision-making.
Prophet targets the tremendous problem of wasted advertising spend, which is estimated to affect 86% of the global advertising market by 2024. In the Australian market alone, potential misallocated advertising costs could reach A$23.8 billion. Even if the retailer spends his A$2.56 billion on advertising in 2023, even just a 1% increase in efficiency could increase revenue by millions of dollars, Prophet says. We are about to seize an important opportunity.
Announced as Australia's response to a huge marketing woes, the AI-driven platform is designed to provide businesses with real-time big data analysis, enabling more accurate and intelligent decision-making. This service helps companies quantify their past ROI from all elements of their marketing mix, while simultaneously predicting future results using a large amount of macroeconomic data points. The result is cost savings of 10% to 50% on overall marketing spend.
The launch of Prophet quietly breaks the conventional wisdom of waiting 60-90 days for actionable analytical data. CEO Jordan Taylor Bartels said, “When a marketing team is working with a large budget, once the data is received he can no longer afford to make important spending decisions based on data from three months ago.'' there is no.”
Through Prophet's technology, sophisticated mathematics is easily packaged into a user-friendly platform, enabling accurate and rapid optimization of brand budgets.
In addition to touting significant cost savings, Taylor-Bartels is increasing Prophet's efficiency by showing what is functionally effective and advising where to focus resources for maximum impact. We report that preliminary testing has demonstrated the ability to improve Analysts and entrepreneurs alike recognized the potential of this innovation, and he raised a staggering A$5 million in seed funding before the platform started generating revenue.
With third-party cookies scheduled to be phased out by the end of the year, Prophet provides a powerful alternative for marketers who feel lost. Imminent changes are referred to as “cataclysms” in organizational measurement. Business leaders managing large marketing and advertising budgets are advised to adapt quickly given the combined effects of declining consumer purchasing power, rising inflation and Google's cookie phasing out. .
The Melbourne-based company is led by a cadre of seasoned innovators, including former Hyperloop marketing chief Jordan Taylor Bartels, former Ogilvy chief executive Sean Taylor and mathematician Patrick Robotham. ing.
Sean Taylor, co-founder and executive chairman of Prophet, said: “In over 30 years in the advertising and media world, I have never seen a tool that allows clients to make clearer and better decisions about their media spend. “Simplicity. Incredibly intelligent people. It’s been an extraordinary journey over three years of development, and we can’t wait to bring it to market.”
Anthony Catalano, one of the lead investors and currently executive chairman of View Media Group, is excited about these innovations. “I've seen a lot of innovation over the past 20 years, and our operations through our national media group are testament to that. “Now more than ever, we need media, marketing and organizational accountability. Measurement is becoming more important. Prophet is on a whole new level. It's not just a game changer, it's a whole new game.”
