Amplify Analytix: The Art of Building a “Data-Science-for-Business” Company

Interviewer: Hi, Anna! Thank you for the opportunity to learn more about the journey of Amplify Analytix first-hand! Let’s start with the questions. 

How did you team up with Laura Murphy, the Founder and CEO of the company? How did you two acquaint and decide to create the company? What was your initial step in developing Amplify Analytix?

Anna: I teamed up with Laura after working with her at Philips. We were both leading different departments, with Laura heading the business transformation team and me leading the marketing analytics practice. When we decided to leave Philips, we saw an opportunity to start a company that could use data science to support commercial decision-making.

Due to our past professional relationships and collective network, we were invited to attend several insightful workshops focused on marketing and sales analytics business challenges. With over 20 years of experience in analytics, both as users and providers, we were well-equipped with the knowledge of the analytics and data science field. Our participation in these workshops and our frequent interactions with industry leaders allowed us to gain an even deeper understanding of the prevalent challenges faced by businesses across different sectors. This gave us a unique perspective on the common struggles faced by teams in various domains. This insight proved invaluable in shaping our core specialisations, refining our solutions, and defining our methodology.

Interviewer: What was the most enjoyable aspect in the beginning?

Anna: I particularly enjoyed building the team, onboarding new members, and establishing a culture and work style that we could be proud of and maintain over time. Interacting with stakeholders and gaining an in-depth understanding of their priorities is another aspect that I have always relished. Engaging with people has always been invigorating for me, and this role required a significant number of interpersonal skills. To this day, I continue to find these aspects of my work highly enjoyable and rewarding.

Interviewer: What was the most difficult aspect? Were you ever on the edge of giving up the whole idea?

Anna: Despite the challenges, we were never deterred from our vision. In fact, the idea of starting our own company was extremely energising for both of us. The most challenging aspect for me was navigating the operational side of the business and being accountable for every aspect from hiring to office space, salaries, and finances.  These challenges also helped shape the success of our company, as we were able to effectively navigate and grow as a result of our experiences.

Interviewer: What were the client’s issues back then? What are the difficulties now, and what will be the concerns in the next five years?

Anna:  When we first started our company, growth was the main concern among our clients. While this remains an important issue, the nature of client concerns has evolved over time. Initially, questions were primarily focused on expanding the business, converting opportunities, and moving leads through the sales funnel. However, today, we are seeing a shift towards more optimisation-focused questions, such as how a company can sustain itself during challenging times, reduce operational costs, and proactively anticipate and address possible issues before they arise. CEOs are now asking about improving the performance of their portfolio, optimising pricing, and demonstrating the high quality of their products in order to compete for premium rates.

Looking ahead, I believe that the focus will continue to shift towards resilience and optimisation, without sacrificing the ability to command premium prices for high-quality products and services. I also expect to see more companies looking beyond their existing customer base and towards the wider market or industry to identify growth opportunities. This is already happening to some extent, but I think the focus will become even more externally oriented in the coming years.

Interviewer: As COVID-19 struck the world throughout the company’s early years of operation, how did this affect the data science industry and Amplify Analytix? How did you manage to recover?

Anna: The COVID-19 pandemic certainly had a significant impact. It was a challenging time, but it also presented opportunities for growth and development. Business slowed down and our clients were affected, leading to challenges for us as well. However, because we have a broad portfolio and are diversified across a number of industries – it did enable us to find our sweet spots even in those times. The increased focus on digital transformation and leveraging digital channels for business growth was a big shift post-COVID, and we were able to navigate and thrive in these changes.

Interviewer: As you launched your business almost six years ago, just how different is the sector today? Where is the market headed, according to the CEOs you have spoken with?

Anna:  The industry has seen significant expansion in recent years, with a proliferation of market participants and specialised firms offering very niche products and services. The increased scalability of the market has led to a more competitive landscape, with businesses recognising the value of focusing on specific areas of expertise rather than spreading their efforts too broadly. As a result, many companies are now identifying and targeting specific niche markets in order to establish themselves as leaders in their chosen fields.