Stripe Sigma data analytics tool launched

Stripe Sigma
Sigma, a new data analytics tool to efficiently analyze revenue

Stripe Sigma data analytics tool has been launched to help businesses make sense of their revenue data

Last week payment giant Stripe launched Stripe Sigma, a new data analytics tool that assists businesses to efficiently analyze their Stripe revenue data and gain faster business insights.

The tool which is built directly into an account’s dashboard comes with pre-written queries for the most useful reports for different types of businesses, however, users can also create their own custom reports.

With Stripe Sigma, companies gain the ability to identify which geographies contribute the most revenue, see which products are most popular, analyze the payment methods of customers and much more.

In a phone interview with TechCrunch, Stripe Co-Founder Patrick Collison said,

“Because Sigma is a query editor, you can express any question or query or analysis of your business data. It has immense flexibility built right into it. Rather than providing specific reports or pre-packaged data, we’re creating maximally flexible tools,”

“With Sigma, we heard from a lot of businesses that they had various analytics needs. We wanted to eliminate as much duplicative work across the platform and give them a flexible query interface. We believe all of these different needs and different use cases can be solved across a common set of tools.” he continued.

Stripe has grown into a payments industry giant. Today the company processes billions of dollars a year in payments for thousands of businesses in a range of industries. Companies such as Target and SAP currently use Stripe’s technology to power at least some of the payments in their websites and apps. Notable web and mobile businesses around the world include companies like Twitter, Kickstarter, Shopify, Salesforce, and Lyft.

Stripe employs over 700 people and is headquartered in San Francisco. The company is valued at 9 billion dollars and has received approximately $450 million in funding to date. Prominent investors in Stripe include Sequoia Capital, Visa, American Express, Peter Thiel, and Elon Musk.

More here [techcrunch]


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