Product News

Announcing Metrics Explorer: Correlation Analysis in Northbeam

Discover hidden relationships in your data with Northbeam's newest tool.

Bryan Bumgardner

January 6, 2025

min read

TL;DR

Introduction to Metrics Explorer: Metrics Explorer is a new Northbeam dashboard that helps marketers visualize relationships between metrics like ad spend, revenue, and performance over time.

Features and Capabilities: It enables users to measure correlations, customize time frames and attribution models, and adjust data granularity for detailed analysis.

Benefits for Marketers: Metrics Explorer streamlines reporting and uncovers insights that help marketers make confident, data-driven decisions.

Enterprise Features and Availability: Available to all users, Metrics Explorer offers enterprise customers advanced capabilities like analyzing multiple correlations simultaneously.

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Have you ever run a correlation analysis on your marketing data? Generations of marketers have used this statistical analysis to help them understand the relationships between their spend, revenue, ad and performance over time.

We're thrilled to announce the launch of Metrics Explorer, a powerful new dashboard inside Northbeam that revolutionizes how marketers run correlation analyses. Metrics Explorer empowers you to visualize the direction and intensity of relationships between various marketing metrics over time, providing unprecedented insights into your marketing strategy's effectiveness.

How to Use Metrics Explorer

With Metrics Explorer, you can:

Understand cross-channel effects (e.g., how Facebook ads impact Amazon revenue)
Evaluate the strength of relationships between ad spend and key performance indicators
Uncover unexpected correlations that could inform future marketing strategies

Metrics Explorer is useful at any stage of the marketing process, from ideation to reporting. You can use Metrics Explorer to add statistical rigor throughout your marketing work, increasing trust in both the data and your strategic vision.

Unlock the Power of Correlation

At the heart of Metrics Explorer lies the Pearson Correlation Coefficient, a widely-trusted statistical model that forms the foundation for uncovering meaningful connections in your data. This robust tool allows you to:

Measure correlations over unlimited, customizable time periods
Analyze data using various attribution models and lookback windows of your choosing
Adjust granularity (daily/weekly/monthly) in the data

Metrics Explorer makes it easier than ever to add correlation analysis to your marketing toolbox - and it all runs on Northbeam’s first-party data.

Gain Confidence in Your Marketing Decisions

Metrics Explorer helps you understand how specific ad campaigns, spending flights, or performance trends affect other aspects of your marketing strategy. For instance, you might discover a moderately strong relationship between your Facebook Spend and Google Branded Search Revenue over the last 90 days.

By visualizing these results, Metrics Explorer makes it easier than ever for you to include robust statistical analysis in all your marketing reporting, whether you’re forecasting for the future or analyzing past performance.

Create and save customized views tailored to your specific needs, then export them with ease. Metrics Explorer streamlines your reporting process, allowing you to focus on deriving actionable insights from your data.

Like all Northbeam dashboards, Metrics Explorer harnesses the power of your exclusive first-party data, ensuring that the insights you gain are truly relevant to your business.

Availability and Enterprise Features

Metrics Explorer is now available to all Northbeam users. Enterprise-tier customers enjoy the added benefit of analyzing multiple correlations simultaneously. Contact our sales team to learn more about upgrading to Enterprise.

With Metrics Explorer, you'll gain a deeper understanding of your marketing ecosystem, allowing you to make data-driven decisions with greater confidence than ever before. Start exploring your metrics today and unlock the full potential of your marketing data!

Want to learn more? See our Quick Start Guide, or read our Best Practices Guide.

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Images of Northbeam's new Profitability Benchmarks tool and dashboard

April 15, 2025

Product news

min read

Northbeam’s Profitability Benchmarks: Tailored Performance Targets for Your Business

Define success on your terms with data-driven performance targets

Lior Torenberg

In the ever-evolving landscape of digital marketing, understanding what defines a successful ad campaign is crucial for sustainable growth. Profitability Benchmarks is a tool within Northbeam designed to help you set personalized performance targets based on your unique business data.

Why Profitability Benchmarks?

Traditional benchmarking often relies on external industry data, which may not accurately reflect your business's unique dynamics. Profitability Benchmarks shifts the focus inward, allowing you to set personalized performance targets, enhance decision-making with real data, and simplify complex data into the metrics that matter.

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By establishing performance targets for each of your campaigns, you can demystify what constitutes a “good” or “bad” ad campaign in the context of your specific business.

How does it work?

Profitability Benchmarks give brands the flexibility to define their own success metrics by analyzing past performance and filtering out misleading anomalies.

Here’s how it works:

Select your baseline days: Choose historical data that best represents your typical performance; this ensures that benchmarks are grounded in real business outcomes rather than industry-wide assumptions.
Adjust for profitability: Factor in COGS to create profitability-based benchmarks to ensure that your targets reflect actual margins, not just revenue.
Manage outliers: Promotional periods, product launches, or unexpected downturns can distort performance data. You can remove these fluctuations so that your benchmark reflects normal business operations for a more accurate view of long-term performance trends.
Consider incrementality: Not all sales are directly attributable to a single ad or campaign. You can adjust benchmarks to exclude non-incremental conversions, ensuring that your targets focus on true revenue impact.
Compare and optimize: Once your benchmarks are set, you can track performance against your targets in real-time. This helps identify which campaigns are overperforming, which need adjustment, and where to allocate budget more effectively.

Why does it matter?

With Profitability Benchmarks, brands can move beyond vanity metrics and focus on what actually drives profitability. They can improve budget allocation, scaling the right campaigns and cutting inefficient spend with data-backed confidence. Finally, they can drive sustainable growth by setting realistic, performance-based goals that ensure long-term profitability.

With Profitability Benchmarks, success is no longer defined by generic industry data — it’s defined by you.

If you’re interested in gaining access to Profitability Benchmarks, get in touch with our team to learn more.

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