Team eCommerce Next interviewed Assaf Egozi from Noogata to get more insights on Ecommerce Trends. Following is our interview with him:
Can you tell us more about Noogata and how the platform enables brands and retailers to make more informed decisions? Can you give us an example of a partner or customer leveraging Noogata, in action?
Noogata is a global leader in no-code artificial intelligence (AI) – with an AI platform built for any business user who needs to turn data into actionable insights, quickly and easily, to drive opportunities and growth. Noogata pioneered “no-code AI” building blocks for sales, marketing, ecommerce and other operational roles to enable professionals to integrate billions of data points from multiple sources to make timely and critical data-driven decisions.
Noogata has become integral for brands, such as Colgate Palmolive and its subsidiary brands, ELTA MD, PCA Skin and Colgate Oral Careto, to enhance the buyer experience and offer products that directly meet consumers’ needs. Brands and retailers, for example, can quickly derive insights on buyer intent, which search terms drive the most traffic, recommendations on how and where to reach consumers, and the best product descriptions to improve search rankings and click-through.
What differentiates your company from others in the space?
Noogata has a unique approach, which focuses on pre-set blocks built around standardized data sets. This allows us to deploy and help our customers drive impact extremely quickly – much faster than traditional no-code AI platforms. Our focus is to make AI truly accessible at scale and at pace to the non-technical user.
In addition, as a part of our product philosophy, we designed our platform to be open and to integrate seamlessly with our customers’ data warehouses. This allows our block output to be integrated directly into our customers’ in-house analytics models and solutions. Our ability to avoid the data silos that function-specific solutions tend to create is a critical point of differentiation for us.
Tell us more about Noogata’s funding round. What is the company planning to accomplish with these new funds?
Noogata has raised $16 million in Series A funding, led by Eight Roads, to accelerate its vision to enable any business user – regardless of technical expertise – to make data-driven decisions leveraging AI. Total funding is now $28 million. Allon Ventures also participated in the Series A funding round. Earlier seed investment was made by Team8 and Inference Partners.
The latest investment will help Noogata fuel rapid growth and accelerate its vision to enable any business user to make data-driven decisions leveraging AI. The new capital will be used to support Noogata’s expansion goals in the United States and research and development (R&D) operations in Israel.
How will new integrations of Shopify, Google and Amazon datasets benefit brands and retailers on Noogata’s platform?
Noogata’s platform can be used by anyone in any organization to make data-driven decisions. All the blocks are pre-set, and the platform enables simple connectivity with a growing list of external datasets from Amazon, Shopify and Google to the platform, as well as expanding the range of solutions (AI blocks) that Noogata offers. This makes Noogata one of the top AI platforms to truly make AI accessible to business users, rather than to remain the purview of data scientists and engineers.
How can the ecommerce industry continue to benefit from AI in the future? Are there any emerging applications of AI that brands can expect to use in the future?
Noogata provides companies with one of the most effective ways for any business user – from Fortune 500s to niche ecommerce brands – to leverage the power of AI without technical expertise or background knowledge to solve complex business challenges. Noogata’s SaaS-based platform helps users make better decisions using data leveraging AI and ML capabilities. The modular, plug-and-play design is both simple enough for anyone to get started quickly and customizable to quickly answer data-driven questions. The Noogata platform is made up of hundreds of pre-built AI blocks and libraries, organized by business function and can be used individually or in combination to produce insights, predictions, and analyses across marketing, ecommerce and sales – with more capabilities and functions to come.
What are the big trends you anticipate in the ecommerce industry over the next few years?
As the amount of data continues to skyrocket in the retail sector and many other industries, executives are still faced with the challenge of identifying the right insights among these large data pools to make critical decisions. The pandemic led to a major change in shopping habits, which increased the amount of ecommerce traffic, so now companies are looking to find innovative solutions to make sense of their data and derive actionable takeaways. The increased use of AI and machine learning will enable enhanced decision-making capabilities and increased profitability.
About Assaf Egozi
Assaf Egozi, CEO and Founder of Noogata, is passionate about the potential for AI to radically improve business results and has dedicated much of his career to forging a relationship between deep data intelligence and business growth. He has a deep understanding of business strategy and operations honed over 10 years at McKinsey and Company. Assaf has an MBA with high distinction from Harvard Business School and a BSc. in Economics and Computer Science from Tel Aviv University, where he graduated magna cum laude.
Noogata’s modular AI platform gives companies the impact of data science without the burden of development or the limitations of out-of-the-box solutions.