The Importance of Data-Driven Decisions in the Gaming Industry
In today’s rapidly evolving gaming industry, data-driven decisions have become essential for success. Game studios are constantly faced with a multitude of tasks beyond game development, including management, optimization, marketing, and user engagement. To navigate these challenges effectively, studios rely on two types of tools: analytics (product and performance) and LiveOps.
However, using third-party services for analytics creates data silos, making it difficult to compile all the data into a unified picture. Different teams within the studio may use different analytic tools, leading to fragmented insights. On the other hand, developing customized end-to-end game performance tools internally is costly and often inefficient, leaving smaller studios at a disadvantage.
This is where Magify comes in. Magify, a Cyprus-based company, aims to democratize access to high-level business intelligence and LiveOps for small and mid-size gaming studios. The company recently raised $1.1 million in funding to fuel further product development and expand into new markets.
Magify’s Unique Approach
Magify stands out by offering a unified platform that combines end-to-end business intelligence and LiveOps on a pay-as-you-go model. This approach allows studios of all sizes to access advanced analytics, user segmentation, monetization tools, and more, without the need for a dedicated team or expensive in-house solutions.
The platform provides a robust set of tools for product, marketing, and monetization analytics. It also offers features such as user segmentation, remote monetization setup, A/B testing, in-app purchase validation, and state-of-the-art predictive models. Additionally, Magify integrates with over thirty third-party APIs, allowing studios to collect data from various sources.
By leveraging Magify’s platform, game studios can significantly improve financial planning, increase average revenue per user, reduce user acquisition costs, and streamline product development. The platform also enables studios to track the effectiveness of performance marketing and conduct in-game feature testing.
Advantages and Benefits of Magify
Magify brings several advantages and benefits to game studios:
- Cost Savings: Magify eliminates the need for studios to invest in creating and maintaining internal software or integrating data from multiple third-party services. This results in significant cost savings, with Magify claiming to offer 10 to 30 times cost savings compared to in-house solutions.
- Unified Data: By utilizing Magify’s platform, studios can consolidate data from various sources into a unified picture. This allows for better decision-making and a comprehensive understanding of a game’s potential.
- Advanced Analytics: Magify provides advanced analytics capabilities, including user segmentation, predictive models, and in-depth performance insights. These analytics tools empower studios to make data-driven decisions and optimize their games for success.
- LiveOps Management: The platform’s LiveOps features enable precise and instant management of game design aspects such as monetization and balance. Studios can remotely change ad placement frequency, activation triggers, and configure internal offers on the fly.
- Data Security: Magify ensures the security and privacy of data processed on its platform through AWS infrastructure and encryption measures. This gives studios peace of mind when handling sensitive user and game data.
Support from Industry Experts
Magify’s unique approach and vision have gained the support of industry experts and investors. Steam Power Investments, a leading gaming investment firm, recently invested in Magify. The co-founders of Steam Power Investments, Andrei Yarantsau and Alexander Shilyaev, are veterans of the gaming industry and recognize the value Magify brings to studios of all sizes.
Andrei Yarantsau highlighted the importance of making informed decisions about audience behavior in achieving success in gaming. He praised Magify for providing a comprehensive tool that meets and exceeds their requirements, offering great opportunities for cooperation between their portfolio companies and Magify.
The Future of Gaming with Magify
With the recent funding and support, Magify is poised to accelerate its expansion into global markets and support a broader spectrum of game studios, from indie developers to industry giants. The company’s mission to democratize access to business intelligence and LiveOps aligns with the growing demand for data-driven decisions in the gaming industry.
By providing a cost-effective and comprehensive platform, Magify empowers game studios to optimize their games, increase revenue, and compete on an equal playing field. As Magify continues to enhance its analytics, user segmentation, and monetization tools, it is positioning itself as the backbone of the next generation of gaming.
Game studios looking to gain a competitive edge and make data-driven decisions should consider exploring the possibilities offered by Magify. With its innovative platform and commitment to fostering the growth of gaming studios, Magify is set to revolutionize the industry and empower studios of all sizes.