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Joe Junfolla of SixLeaf is with us explaining his view on why data accuracy matters for Sellers,, his experiences as a seller with inaccurate data, the error rates from some of the tools out there and what SixLeaf are building as an algorithm to help.
- Anthony Lee, good friend of the show, works with Joe at SixLeaf
- Joe is CEO/Founder of what was ZonBlast
- Seller since 2014
- Pivot in 2017 now to SixLeaf
- Specialise in data accuracy and ensuring the end user (Seller) gets info to make accurate decisions in their business
Facebook Group
- #Brand Owners by Six Leaf
- Used to be Zon Squad as a paid group
- Opened it up as a good close knit group
- No Gurus allowed 🙂
Jungle Scout data
- Had Greg Mercer on the show on Jungle Scout data accuracy
- Gave out to people a load of data
- The SixLeaf group has a view on the data provided
Respect for the Space
- Lots of respect for Jungle Scout and Viral Launch
- Going back to 2014 there was a sales estimation tool being used for a training course that was incredibly inaccurate on sales per day/month (was 4-6 times over the actual sales)
- Underlying theme is that these chrome extensions are based on estimated sales
- Discussions in groups over the years have revolved around numbers not being accurate to them being used as a ‘relative measure’ between ASINs
- Got under our skin as the numbers are not accurate but Noobs would follow them slavishly
Solving the Problem in the Space
- 2016/17 the chrome extensions space was blowing up
- Six Leaf wanted to get into this space but was held back by the estimated sales figures as didn’t think could get better than what was out there
- Also, wanted to focus on being unique and not a me-too
- 8 months ago learned about machine learning and creating an accurate sales algorithm
- Dove in and in December contracted with data scientists that specialise in Amazon
- Literally 100 of millions of rows of data to create this learning algorithm for BSR, search volume nad history for a given ASIN
- Wanted a 15% target error rate and seem to be hitting 6% which is amazing
- Incredibly precise and accurate
Accuracy versus Precision
- The challenge of data accuracy in these numbers will be great
- Difference between accuracy and precision
- Think of archery and arrows
- Accuracy is how close you are to the bulls-eye
- Precision is how tight your shot-group is
- Basically – everybody is very inaccurate and very imprecise
- Box-plot with whiskers shows this argument and that Six Leaf are the top at the moment
Phoenix Algorithm
- Traditionally we’ve been niched in launch
- Moving more into SaaS now with the new Phoenix Rise algorithm
Launching Soon
- Data scientists and Greg is spending $1m per year to develop data accuracy
- Joe’s approach is different here
- Throwing money at something does not definitely make it better
- Joe not spending anywhere near $1m on this
- Has a beta group and internal team running this, around $10k/month
- Launching open Beta in the next week
Contact
- #BrandOwners group on Facebook
