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Data engineers are often challenged with consolidating diverse data sets from multiple platforms, preventing data silos so they can better store, access, and analyze data effectively. Many businesses rely heavily on their data engineers’ assessments, so this is a crucial task and often a significant challenge.
Baremetrics can help SaaS and subscription data engineers with our comprehensive data integration, API, and analytics software.
The Problem: Data Silos and Limited Actionability
Let’s look at the average subscription business. They may use the following platforms just to track financial and subscription data alone:
- Mobile app platforms, including Google Play and the Apple App Store
- Payment processors like Stripe
- Invoicing and accounting platforms like Xero or Quickbooks
- Subscription management platforms like Recurly or Braintree
Each platform will house a ton of invaluable data. And in theory, that’s great: The more data, the better for most data engineers!
But the downside is that it creates data silos, which results in limited actionability for the following reasons:
- You spend hours wrestling with cobbled-together billing data feeds from different services, which may not all use consistent calculations or reporting methods
- Every data request from the team turns into a custom coding scramble
- Pushing accurate subscription metrics takes forever… and often doesn’t go exactly as you’d planned
This can ultimately be frustrating, and may even lead to inaccuracies in overall data reporting. Since data engineers need accurate data to do their jobs well, that becomes a major sticking point.
As a result, many data engineers look for solutions that present a unified approach to data reporting, allowing them to better harness and interpret diverse data for truly actionable (and accurate!) insights. This is where Baremetrics enters the picture.
How Baremetrics Eliminates Data Silos & Maximizes Data Actionability
Baremetrics is a subscription revenue analytics platform designed for SaaS, subscription, and startup businesses. We pride ourselves on the kind of data accuracy that data engineers love. To sweeten the deal even more, we offer easy set-up integrations, the Baremetrics API for ultimate customization, and a user-friendly interface.
Let’s discuss how Baremetrics can help engineers eliminate data silos and maximize actionability.
Comprehensive Data Collection
Baremetrics offers multiple integrations for popular SaaS and subscription platforms, syncing data from each to create a central hub for all key metrics. e provide 26 subscription-centered revenue metrics, along with actionable insights, and forecasting features.
Whether you use our ready-made integrations or set up custom integrations with our API, data collection and synching are streamlined, allowing you to get a detailed look into your revenue performance in real time.
Consistent Data Reporting
Most subscription management, payment processing, and analytics platforms may calculate or report data differently. This is particularly common with revenue metrics, causing sometimes significant discrepancies from platform to platform.
Stripe, for example, may sometimes count paused subscriptions or even free trials towards monthly recurring revenue. This overinflates your MRR metrics quickly.
When you use Baremetrics, you’ll know that all data is calculated consistently, even if we’re synching data from platforms that use other calculation methods. Our data reporting was also intentionally designed to consider the nuances involved with SaaS and subscription metrics to give you the most accurate data possible.
Transparency and Insight
Baremetrics’ extensive reporting data and actionable insights features make it easy for data engineers to go beyond simple metrics. They can gain insights into the business’s operations and identify growth opportunities.
Our Insights features include the following:
- Revenue forecasting: Projects revenue estimates year-over-year for long-term planning.
- Recover: Leverage automation to identify and prevent missed payments before they happen due to reasons like expired credit cards.
- Cancellation insights: Identify reasons why customers are churning, and help you reduce churn by flagging potential risks.
- Trial insights: Get suggestions for improving the trial-to-customer conversion rate.
Critical Functions of Baremetrics in Data Engineering
There are three critical functions of Baremetrics for data engineers: Data integration, utilizing data warehouses and lakes, and master data management.
Data Integration
Forget writing and maintaining custom integrations for every billing source.
Baremetrics takes care of that, saving you from the pain of wrestling with each system's specific API and data format. Instead, you get a clean, normalized dataset across the company. No more battling messy data transformations – write clean, efficient queries and get on with the real work.
Utilizing Data Warehouses and Lakes
Baremetrics integrates with both data warehouses and data lakes, so we can collect, store, and provide analysis on structured, semi-structured, and unstructured data. We can do this regardless of the schemas used by the data warehouse and lakes, and regardless of whether the original data formats are proprietary or involve multiple software frameworks.
By utilizing data from both warehouses and lakes, Baremetrics can enhance data accessibility significantly, making your job easier.
Master Data Management
Data management can be complex, but Baremetrics makes it as easy as possible. Our platform allows you to create and manage subsets from the master data for more focused analysis. Whether engineers use this to focus on specific time periods or key metrics, this can help identify potential areas of growth and optimization.
Integrations and API Connectivity
Data engineers can leverage Baremetrics’ existing integrations or use the Baremetrics API to create customized integrations with the tech stack that you’re already using.
API Capabilities
Many data engineers use the Baremetrics API to integrate with the data and reporting platforms they’re already using. They may use the API for any of the following reasons:
- Sync data from other platforms to Baremetrics for consistent data reporting
- Visualize CRM data in Baremetrics
- Use Cancellation Insights in their existing cancellation flow
- Request and export Baremetrics data for use outside of the platform
- Track UTM data, specific behaviors, or customer activity
- Import Stripe metadata
Platform Integrations
Baremetrics currently supports eight different integrations with popular payment processors, accounting software, and subscription management platforms. You can set up these integrations in just a few clicks, and connect to as many data sources as you’d like.
How Baremetrics Promotes Data Sharing & Improved Decision Making
Baremetrics promotes easy data-sharing, which leads to improved decision-making.
This starts with an intuitive interface. Even executives without data engineering experience can easily understand what they’re looking at and what it means thanks to our clear reporting and user-friendly design.
Data engineers can also create segmented reports for improved analysis, making it easy for them to organize, assess, and present specialized data. This can help uncover trends in customer behavior, identify common reasons for churns or low trial conversion rates, and flag revenue-saving opportunities.
We also provide easy exporting options, so you can share relevant information across departments, even including live metrics and forecasting with scenario planning.
Easy data sharing means improved decision-making, especially when working with accurate, up-to-date data that data engineers know they can trust.
Final Thoughts
Baremetrics can revolutionize data integration for data engineers. We can help engineers bridge data gaps and optimize business processes through better data management.
When you’re making revenue-impacting decisions that drive business growth, accurate, carefully-reported data is essential.
Tired of searching through data silos. Get a free trial of Baremetrics today.
