Magnify Insights are one of the key foundations of the Magnify platform, providing predictions based on Magnify's machine learning (ML) models to highlight specific drivers impacting your customer base. Magnify Insights leverage correlation of historical data to determine specific factors that are most impactful to churn, expansion, and trial conversions. For more detailed information about Magnify Insights, please visit our FAQ.
Models & Support
Machine Learning (ML) Models
Magnify Insights are powered by Magnify's proprietary machine learning algorithms, which are designed and optimized to support the following models:
- Churn
- Expansion
- Trial Conversion
Multi-dimension Drivers
Magnify Insights provides support for multi-product and/or multi-segment evaluation. For example, if your organization sells multiple products, it is likely that the drivers of churn or expansion are different for each of those product. As such, Magnify gives you the ability to carve the data based on each product. Similarly, this can be done at an account segmentation level (e.g. based on region, spend, or market tier).
Custom Drivers
If your organization already utilizes some variation of health score or early warning indicator, Magnify provides support for custom drivers. These custom drivers can be displayed alongside the Magnify Insight Drivers to provide a holistic overview of your customers.
Magnify Insight Drivers
By default the top overall drivers of churn, analyzed using ingested data from all of your connected systems, will be displayed on your Magnify Dashboard. You can easily switch between the models by selecting from the desired insights from the dropdown. If enabled, you can also switch between an overall or defined scope view (e.g. by product or segment).
Each driver will specify the necessary change across a number of accounts for the given metric and subsequently highlight the potential impact on revenue as calculated by the ML algorithms.
You can take immediate action and begin an automated series of actions to address the specific driver, by clicking the Create Motion button. Doing so will automatically populate the motion creation form, including the goal metrics to track derived from the driver. For more information about motions, please visit our Motions Overview.
Insight Driver Details
To learn more details about a given driver, from the dashboard, locate the desired Magnify Insight Driver, and click Insight Detail. Upon doing so, you will be presented with a detailed view with information specific to that driver, including impact and segmentation.
Insight Driver Impact
The Insight summary (below, on left) displays the number of accounts in the segment, the total ARR expected for the segment if no change is made, and % probability that the revenue for the segment will churn or expand.
The Insight Driver Impact (below, on the right) displays the predicted amount of revenue you can expect to see or mitigate as a result of successfully delivering on the necessary change for a specific driver.
Additionally, you can run scenario modelling by specifying a target that is different from the values calculated by Magnify Insights. To do so, click the pencil icon which will enable the editing mode for the target value. Specify a new target and click Set.
After setting the new value, calculations will be performed and the updated impact will be displayed using the new target value.
Insight Driver Segments
Each Magnify Insight driver is evaluated using high, medium, and low segment analysis. Be default, the dashboard will display the High Impact Segment when viewing the insight drivers as this represents the greatest opportunity.
When drilling into a specific driver you have the option to select multiple segments or specify a custom segment. With a segment selected or defined you can easily create a motion with the segment criteria already populated, by clicking the Create Motion button at the bottom of the page.
Each time you modify the segment the resulting account list will also update, only showing the accounts within that segment.
Insight Driver Accounts Table
For each insight, Magnify will show you the accounts included in the segments you have selected ('high' will be the default selection). For each account in the segment, you will see the projected ARR saving if the account meets the insight target (1), as well as the current state of the metric called out by the driver (2).
In addition, you will see the overall churn probability for the account, current ARR, and forecasted ARR (3).
You can use the search bar in the upper-right-hand corner of the table to search for a specific account, and the table is sortable by each of the headers, the default being by Projected ARR Saving.
Should you decide to create a motion from the account table, you can either select all of the accounts, or manually select those of interest, and click the 'Create Motion' button.
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