Greg Dolan of Keen Decision Systems
An exclusive Tech Tribune Q&A with Greg Dolan (co-founder and CEO) of Keen Decision Systems, which was honored in our:
Tell us the origin story of Keen Decision Systems – what problem were you trying to solve and why?
I started my career as a brand marketer with Kraft Foods and the Campbell Soup Company, where I was responsible for millions in marketing spending. I frequently found myself frustrated by the lack of available tools to understand my strategy’s financial impact on the business.
I met my now co-founder, John Busbice, when he was working as a data scientist conducting exhaustive analytics studies without much utility for decision-making, with similar frustrations.
We began working together with a shared vision to help marketers predictively optimize spending decisions with timely, accurate data that quantifies their financial impact.
From humble beginnings with an Excel prototype, we grew the business and our capabilities into a cloud-based application that helps marketers drive quantifiable financial impact through their investments. In 2015, we made the pivot from a consulting-based company to a SaaS model, scaling to 32 team members (and counting), with $2B of brand spending under management. We are working with industry-leading brands such as Post, 3M, Abbvie, Smithfield Foods, among others.
What was the biggest hurdle you encountered in your journey?
As a fast-growing technology company, we do not lack hurdles. But two come to mind that are significant and relevant to other entrepreneurs.
The first is the task of trying to turn the mindset of marketers from using data to measure past performance, which is only helpful to understanding the value of the investments you’ve already made, to using predictive analytics to improve the financial performance of future marketing investment decisions. That shift from backward to forward and from data to decision represents a fundamental change in how marketers think and approach their businesses.
The second major hurdle has been introducing a software delivery system to a consumer goods industry that is accustomed to a consulting-based approach for accessing information.
In both instances, these changes reflect the industry’s maturation on the technology adoption curve. The impact to early adopters who make these transitions, however, is transformative. Over the past 52 weeks, clients using our software to make future-focused decisions drove a 41 percent improvement in marketing’s performance.
What does the future hold for Keen Decision Systems?
Our first 10 years were about getting on the map, establishing credibility in the marketplace, and building our brand.
Going forward, our focus is on leadership. No longer the little guy on the block, we see ourselves as the change agent and engine driving the MarTech value chain.
We’re driving nine-digit gains in profitability for our clients; that’s a value driver to be reckoned with.
What are your thoughts on the local tech startup scene in Durham?
I am going to be candid here; I think we have a lot of promise in terms of the talent and opportunities, but more consideration needs to be given to how to create a vibrant ecosystem that promotes and supports startups.
True innovation is happening here in biotech, SaaS, and software technology. Yet, I don’t think enough is being done to amplify it and attract dollars to support it externally.
Entrepreneurs already have their work cut out for them, particularly now, trying to run businesses and drive growth. Early-stage startups have the greatest need, yet access to the least support when it comes to making the right connections to support their growth.
This is a gap that must be filled if we aspire for the outside world to recognize the Triangle as a viable technology center on a caliber with New York, San Francisco, Boston, Austin and other major metro hubs.
What’s your best advice for aspiring entrepreneurs?
We built this business on three key principles that I think are core to any startup:
- Make sure your idea and value proposition address a real pain point and confirm that you offer a “mission critical” solution to that pain.
- Establish the right economics around it.
- We are big believers in being purpose-led and intentional about the organization you are building.
My co-founder, John, and I felt passionate about the pain we were addressing because we had lived it in our earlier careers. We also were passionate about defining our culture by the values that mean the most to us, which helps us attract the right talent and supports growth as much as the product or service itself.
Hitting stride just as business models are looking for new ways to market without the trappings of travel, conferences and presenting same overused model in a new dressing. Congratulations, looks like you are on a rocket ride to the top.