Originally published August 1, 2018. Revised September 21, 2021.
Here at Teikametrics we often get asked where the company name comes from. The answer reflects our mission and it continues to inspire our work every day. Here’s the whole story of the company name, what the word itself means, and what the name means for the future of our company.
Where Does The Name Teikametrics Come From?
As Teikametrics has grown, it’s become a data-driven platform that helps brands and sellers optimize and win business in the most profitable online marketplaces. This is the result of constantly working towards the goal of helping sellers and brands recognize and seize opportunities to become dominant players in the evolving ecommerce industry.
When we founded the company, we knew its name should reflect these abilities, as well as the industry itself.
Both halves of our company name contribute equally to the company’s mission. In Japanese, “Teika,” or ていか, means market price. Specifically, the word comes from “tei,” meaning “decide” or “determine,” and “ka,” meaning monetary value.
Teika is used in the Japanese economy in a similar way to the American definition of MSRP, or manufacturer’s suggested retail price.
“Metrics,” on the other hand, reminds us that every successful business requires a careful analysis of data. Simply put, you can’t manage what you can’t measure.
Putting the two parts together, the name Teikametrics is about measurement in order to determine the value of business decisions.
From Dorm Rooms to Corner Offices, Data Matters Most
Teikametrics initially began as repricing software – but we knew we needed to become so much more than that. In order to effectively run an Amazon-based business, you need a multidimensional, holistic approach.
During his time at Harvard, CEO Alasdair McLean-Foreman’s studies in econometrics (the branch of economics that uses math and statistics to describe economic systems) offered the background he needed to build this approach. The edge earned him recognition as a multi-million dollar Amazon seller.
Our methods have come a long way since Alasdair’s dorm room days, spent crunching numbers in endless spreadsheets, and we’ve grown a lot from when we first launched the company in 2012. Our data science team introduced industry-leading Flywheel technology in 2018. Most recently we’ve expanded our solutions into new ad types and new platforms with the coming release of Flywheel 2.0.
While our methods have changed, our mantra and emphasis on metrics has remained the same. Carefully tracking and managing teika and metrics heavily influenced the way we’ve built our software platform, which helps ecommerce sellers grow using an extremely data-driven approach.
As ecommerce becomes increasingly competitive, the catalyst that separates dominant players from the rest of the pack is which organizations have access to the right data.
While there’s a wealth of data for any ecommerce business to pore over, many sellers aren’t analyzing the information that lets them spot trends and take action. This gives the companies who do look at the right data an edge on their competition.
Our Name Inspires Us To Focus On Our Mission
The two halves of our company’s name played critical roles in fueling our growth, and they continue to represent our mission today: unveil the insights sellers need to win in today’s fast-moving world of ecommerce.
Every day, the name “Teikametrics” reminds us to never stop analyzing our industry and constantly strive to gather and consider the most valuable data possible.
For us, “what’s with the name?” is a simple question to answer – it’s our founding story, our mission and our roadmap.
To help sellers and brand owners maximize their potential on the most valuable marketplaces by combining data, AI, and expertise.
Okay, But How Do You Pronounce It?
We get asked about the meaning, but we also frequently get asked how to pronounce the name Teikametrics.
Is it Teeka? Take-uh? Taco? Our digital community manager Cameron Yoder was impressed by the sheer number of creative ways people pronounce “Teikametrics.”
Cameron decided to walk the Prosper Show floor this year with a video camera to find out how most people pronounce the word “Teika” (and meet some amazing personalities along the way).
Hint: TAKE-A guess, you might get it right the first time!
Watch the How To Pronounce “Teikametrics” video.
A huge shoutout to the entire ecommerce community for making Prosper 2021 the best one yet. We’re looking forward to next year for more fantastic conversations, more strategy, and more creative pronunciations of “Teikametrics.”
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