Product Decisions Driven By Insights

SimpleID has, since its very first prototype, walked a line between Web3 analytics platform and Web3 communications platform.

SimpleID has, since its very first prototype, walked a line between Web3 analytics platform and Web3 communications platform. We believe that both go hand-in-hand. You can’t communicate properly without understanding who to reach out to and when. But what about the why? We, as builders, tend to think we know the why. Why should we be reaching out to users now? Why this message? The why is the variable in most cases, and when you don’t solve for that variable, you are essentially flying blind. This applies doubly when making product decisions.

Analytics platforms in Web2 have long helped companies make feature and company decisions. Web3 is lagging behind here. There are some good blockchain analytics platforms out there, but most are designed to provide information to the general public or to create user-facing dashboards that provide insights into HOW something works not WHETHER OR NOT it is working.

SimpleID will soon be rolling out a new “Insights” feature that solves both problems. Understanding the why before reaching out to users will become significantly easier, and making product decisions will feel like you’ve opened your eyes for the first time. Here’s a glimpse into how it all works.

Streaming Data

In our first iteration of SimpleID, data flowed one-way. An action within the interface would trigger a process that would eventually result in the data being returned. This could be updates to segments, creation of new segments, refreshes to the dashboard and more. This worked fine when we were just starting, but as we’ve grown, we’ve recognized the need not only to be able to stream data in one direction but to stream it in multiple dimensions.

We are currently building a custom listening service that will constantly update our entire system on Ethereum block updates. Every customer will have their segments updated automatically. No more refreshing. No more waiting.

We will also be able to deliver the results of this constant flow of data not just to our client application but to other places. This creates a significant opportunity to build systems that haven’t existed in Web3. “If this then that” statements can be built from the underlying work we are doing now. It creates a flexibility that will allow you to supercharge your applications and user experience.

Parsing Hidden Data

It’s no secret that there is a lot of information encoded into transactions within a block. A single transaction against a smart contract may contain multiple events emitted from that transaction and may have kicked off multiple internal transactions. The rise of smart wallets and proxy contracts have only increased the data complexity.

Fortunately, we can parse this. Whether it’s creating insights around methods called on a particular smart contract or better understanding of how proxy contracts tie back to actual users, we are building the tools to make this easy.

These new insights can be leveraged in the form of a dashboard, segmentation, and as the mechanisms by which you communicate with users. The last point brings us to the third big area Insights enables.

Custom Monitoring

Triggers are popular among the no-code enthusiasts. With the rise of no-code and low-code solutions, being able to connect systems and fire off actions based on events has been a game-changer. Zapier, IFTTT, and others have made it easy for people to create no-code event triggers. For the developers in the world, this has always looked like event listeners. Set up an event listener, and when said event is triggered, take action.

Within SimpleID, these events will be blockchain-based, of course. We will allow you to monitor addresses for specific events and criteria. When the event or criteria is met, you can use that information to send emails, in-app notifications, or update your own internal systems with the new data.

As an added benefit, we will allow companies to pipe in non-blockchain data to help enhance this event monitoring. A concrete example of where this becomes beneficial is in collateral debt positions. An event would be fired when the CDP is opened. A company could then mix in price feed data. With those two things combined, automated messages could be created to alert users when their collateralization rate has dropped too low.

Samantha Brown

Author: Samantha Brown

A writer on SimpleId.

46 thoughts on “Product Decisions Driven By Insights”

  1. Wow, this new “Insights” feature from SimpleID sounds amazing! Finally, we can have the necessary information to make informed product decisions. I can’t wait to see how it will revolutionize the way we communicate and understand our users. Great job, SimpleID!

  2. As a developer, I’ve always believed that understanding the why is crucial in making informed product decisions. SimpleID’s new “Insights” feature seems like a game-changer in helping us see the bigger picture. I can’t wait to try it out!

  3. Wow, this new “Insights” feature of SimpleID sounds amazing! Understanding the why behind reaching out to users is crucial for effective communication and decision-making. Can’t wait to try it out!

    1. Hi Ashton1994, the “Insights” feature in SimpleID provides a comprehensive analysis of user behavior. It allows you to track and understand user actions, preferences, and patterns, enabling you to make informed product decisions. By analyzing user behavior, you can identify trends, optimize user experiences, and tailor your communication strategies to reach the right audience at the right time. The “Insights” feature is designed to empower you with meaningful data, so you can make data-driven decisions. Hope this answers your question!

  4. I completely agree with the article. Having insights and understanding the why behind reaching out to users is crucial for effective communication and making informed product decisions. I’m looking forward to seeing how SimpleID’s new “Insights” feature will enhance this process.

  5. Wow, I can’t wait for SimpleID’s new “Insights” feature! Understanding the why behind reaching out to users is so important. It’s like finally opening your eyes and making product decisions with confidence!

  6. I think it’s great that SimpleID is focused on providing both analytics and communication capabilities. It’s true that effective communication requires a deep understanding of who you’re reaching out to and why. I’m excited for the new “Insights” feature, it sounds like it will bring a whole new level of understanding to making product decisions. Can’t wait to try it out!

  7. Can you provide more details about the “Insights” feature and how it helps with understanding the why?

    1. Hi Emily122, thanks for your comment! The “Insights” feature in SimpleID provides detailed analytics and data that help users understand the why behind their product decisions. It offers information about user behavior, preferences, and trends, allowing you to make informed decisions based on real insights. With this feature, you can analyze user interactions, track key metrics, and identify patterns to determine why certain actions are taken. It helps you gain a deeper understanding of your users and their needs, enabling effective communication and targeted outreach. Let me know if you have any further questions!

  8. I really like the approach SimpleID is taking with their “Insights” feature. It’s true, you can’t effectively communicate without understanding who to reach and why. I’m excited to see how this new feature will improve the decision-making process for product development.

    1. Hey Julie_24, thanks for your question! Yes, the new “Insights” feature in SimpleID will indeed provide real-time data streaming. This means that you will be able to see live updates and immediate insights as the data is being collected and analyzed. It’s a game-changer for making informed product decisions. Let me know if you have any other questions!

  9. I completely agree with the importance of understanding the why before making product decisions. It’s the key to building successful products. Looking forward to trying out the new “Insights” feature from SimpleID!

  10. I really appreciate how SimpleID recognizes the importance of understanding the “why” in communication and decision-making. It’s true that without comprehending the reasons behind our actions, we are just stumbling in the dark. Can’t wait to try out the new “Insights” feature!

  11. As a web analyst, I am thrilled to see SimpleID introducing a new “Insights” feature. Understanding the why behind user behavior is crucial for effective communication and product decisions. Can’t wait to try it out!

  12. Wow, this new “Insights” feature from SimpleID sounds really promising! Understanding the why before reaching out to users is crucial for effective communication. Can’t wait to see how it all works.

  13. Can you please provide more details on how the “Insights” feature of SimpleID will work? I’m curious to know how it will make understanding the why easier and help with making product decisions.

    1. Of course, WebUser07! The “Insights” feature of SimpleID is designed to provide valuable information that will help you understand the reasoning behind your product decisions. It works by analyzing data and providing you with important insights into user behavior, preferences, and patterns. With this information, you can gain a deeper understanding of why certain decisions should be made, such as when to reach out to users and what messages to deliver. By leveraging these insights, you will have a clear vision of how your product is performing and be able to make more informed decisions. Trust me, it’s like having a crystal ball for your product strategy!

  14. I completely agree with the article. In order to make effective product decisions, it is crucial to have insights and analytics. Without understanding the why behind reaching out to users, we are just guessing. I’m excited for the new “Insights” feature by SimpleID, which will provide a deeper understanding and help make better decisions. Can’t wait to try it!

  15. Can you provide more details on how the “Insights” feature works with SimpleID? I’m curious to know how it can help with making product decisions.

    1. Sure, I’d be happy to provide more details on how the “Insights” feature works with SimpleID. With this feature, SimpleID gathers and analyzes data from various sources, including user interactions, behavior patterns, and feedback. It then presents these insights in a user-friendly dashboard, allowing you to understand why certain decisions should be made and how they will impact your product. By leveraging these insights, you can make more informed product decisions and ensure that you are effectively reaching out to the right users at the right time. Trust me, it’s a game-changer!

  16. It’s great to see SimpleID understanding the importance of the “why” in product decisions. Without understanding the why, it’s difficult to make informed choices. Looking forward to trying out the new “Insights” feature!

  17. I completely agree with the article. As a product manager myself, I understand the importance of having insights before making any product decisions. Without a clear understanding of the why, we are just shooting in the dark. SimpleID’s new “Insights” feature seems promising in solving this problem. Looking forward to trying it out!

  18. This new “Insights” feature will be a game-changer! Proper communication and understanding the why behind reaching out to users is crucial. Can’t wait to see how SimpleID will make product decisions easier and more informed.

  19. I completely agree with the author’s viewpoint. Understanding the why behind reaching out to users and making product decisions is crucial. Without this understanding, we’re just blindly making choices. I’m looking forward to the new “Insights” feature in SimpleID, it sounds like it will solve both problems and provide valuable information. Can’t wait to try it out!

  20. As a UX designer, I strongly believe that understanding user insights is crucial for making informed product decisions. Without knowing the “why” behind user behavior, it’s like working in the dark. I’m excited to see how SimpleID’s new “Insights” feature will bridge this gap and revolutionize product decisions in Web3.

  21. Sounds like a great initiative! It’s crucial to have a deep understanding of the why behind user interactions to make informed product decisions. Looking forward to seeing how SimpleID’s new “Insights” feature will bridge the gap in Web3 analytics platforms.

  22. Why is understanding the “why” so crucial before reaching out to users in product decisions?

    1. To SophiaSmith2022: Understanding the “why” before reaching out to users in product decisions is crucial because it provides the foundation for effective communication. Knowing the motivation behind why certain decisions are made allows for more targeted and impactful interactions with users. Without understanding the why, you risk missing the mark and not truly addressing users’ needs and preferences. It’s like trying to hit a bullseye blindfolded – you might get lucky, but the chances are you’ll miss the mark.

  23. I think the idea of integrating insights into product decisions is absolutely crucial in today’s fast-paced digital world. Without truly understanding the ‘why’ behind our actions, we are just blindly throwing darts. SimpleID’s approach seems promising in bridging the gap between analytics and communication platforms, and I’m eager to see how the new “Insights” feature will revolutionize decision-making processes.

  24. As a UX designer, I strongly believe that understanding the “why” behind product decisions is crucial. Without knowing the motivations and expectations of users, it’s impossible to create truly impactful and user-centric solutions. SimpleID’s focus on providing insights that bridge the gap between analytics and communication is a step in the right direction for Web3 platforms.

  25. As a UX designer, I find it crucial for companies to prioritize understanding the ‘why’ behind user interactions. Without this insight, any communication or decision-making is bound to be inefficient. SimpleID’s focus on providing insights for both analytics and communications platforms is definitely a step in the right direction for more effective product decisions.

  26. As a UX designer, I believe that understanding the ‘why’ behind user interactions is crucial to creating successful products. Without insights into user behavior, we are simply guessing and taking shots in the dark. Looking forward to SimpleID’s new “Insights” feature!

  27. I believe that considering the ‘why’ in product decisions is crucial. Without understanding the reasons behind reaching out to users and sending specific messages, companies are essentially flying blind. SimpleID’s new “Insights” feature sounds promising in addressing this gap in Web3 analytics platforms.

  28. Do you think the new “Insights” feature will really revolutionize the way companies make product decisions in Web3?

    1. Hi EmilySmith, I believe that the new “Insights” feature from SimpleID has the potential to revolutionize product decision-making in Web3. Understanding the why behind reaching out to users is crucial, and having insights that facilitate this process can greatly impact how companies operate in the Web3 space. Exciting times ahead!

  29. As a tech enthusiast, I find SimpleID’s approach intriguing. It’s crucial to have a balance between analytics and communications in the Web3 space. Without understanding the ‘why’ behind product decisions, companies are essentially operating in the dark. I appreciate SimpleID’s dedication to providing insights that not only help in reaching out to users but also in making informed decisions. Looking forward to the new “Insights” feature!

  30. As a digital marketer, I completely agree that understanding the ‘why’ behind reaching out to users is crucial for successful communication strategies. Without addressing the ‘why’, any product decision or marketing message can miss the mark entirely, leaving companies flying blind. I look forward to seeing how SimpleID’s new “Insights” feature will revolutionize this process for Web3 analytics platforms.

  31. As a product manager, I strongly believe that understanding the why behind reaching out to users is crucial in making informed decisions. Without solving for that variable, we are just flying blind. Looking forward to seeing how SimpleID’s new “Insights” feature can simplify this process and provide valuable data-driven solutions for product development.

  32. As a UX designer, I completely agree with the importance of understanding the “why” when making product decisions. Without knowing why we are reaching out to users or sending a specific message, we risk flying blind and creating ineffective solutions. I’m excited to see how SimpleID’s new “Insights” feature will improve this process!

  33. As a developer myself, I completely agree with the importance of understanding the ‘why’ behind product decisions. Without this crucial insight, making informed decisions is nearly impossible. Looking forward to seeing how SimpleID’s new “Insights” feature tackles this challenge!

  34. As a user experience designer, I completely agree with the importance of understanding the “why” before making any product decisions. Without knowing the motivation behind users’ actions, we risk designing blindly. SimpleID’s new “Insights” feature seems like a promising solution to bridge this gap in Web3 analytics platforms.

  35. Why is understanding the “why” so crucial in making product decisions, and how does SimpleID plan to solve this challenge effectively?

    1. Understanding the “why” is crucial in making product decisions because it provides the necessary context and insight to tailor your approach effectively. SimpleID’s new “Insights” feature aims to address this challenge by providing a comprehensive understanding of the underlying reasons driving user behavior, thus empowering businesses to make informed decisions based on real data rather than assumptions.

  36. Why is it important for SimpleID to focus on understanding the ‘why’ before reaching out to users? How will this new “Insights” feature revolutionize product decisions?

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