Canecto was created out of a frustration of not being able to get a web analytics tool that real people could get actual results from.
My name is Per Damgaard, and I’m the founder of Canecto. This is my story.
Before I started Canecto, I was the head of a major Danish bank’s online bank. We used the same online tools that everybody else did to track online customer behaviour. It just did not come out very useful from a business value perspective.
Using these tools, we could tell exactly how many of our users used the Firefox browser and when they visited our sites. But we had no tools that could tell us:
- What the users appreciated
- What meant less to them
- What their intentions of visiting online were, and if they were met
In short, how did our users respond to our content.
When you think about it, it’s precise because our users will see our photos, read our lyrics or watch our video footage that they visited our site. We just did not have any tools that could tell us what the customers most appreciated.
So one idea was to focus on content, and this is still the technical core of our application.
The other idea was to make the application simple for our customers. I knew from the bank that few non-experts could understand web analytics findings. Not because they do need to, they just do not have the time to do it.
So the tool had to be as simple so that a broader user group than the specialist can use it.
Now we come to the part where it gets interesting, and that is when you add Machine learning and AI. These new technologies can help solve both problems we have put our focus on.
Machine learning can be used to detect patterns in users interaction with content on a website
Machine learning can also be used to reduce complexity in the analytic process and give specific recommendations on what to improve on a website.
This is what we do, and what we have invented is an AI web analytics assistant, called Canecto.
How we did it
Getting back to the time at the bank. After spending time looking for such a tool, and finding that it did not exist, I decided to start the development of such a tool. Thus, Canecto was born.
We now have our office on the campus of Danish Technical University (DTU) – right in the middle of the mix of students, start-ups and capital funds on the part of DTU called Scion DTU. The first version of our product was launched at Web Summit in Lisbon in 2017. We had great feedback and got excellent ideas on how to make it better. In January 2018 we launched a new version of Canecto, called 2.0.
Canecto is an AI Assistant that monitors your users’ interaction on your website. It gives you actionable web management findings based on AI algorithms that learn how your users interact with your website. You then receive recommendations from these findings on how to improve your site, or as insights that can help you decide what to change and improve.
The results are delivered to you as targeted reports or in a web application.