Here’s a question every company gets asked:
“Where’d You Come Up With the Company Name?”
As Teikametrics has grown, it’s become a data-driven platform that helps retailers optimize and win business in the most profitable online markets. The solution allows sellers and small businesses to name prices, seize opportunities and become dominant players in the evolving e-commerce 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 etymology 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 numbers. Simply put, you can’t manage what you can’t measure.
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, but 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 looks at e-commerce from an extremely data-driven approach.
As e-commerce 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 e-commerce business to pore over, many sellers aren’t analyzing the information that lets them spot trends and take action – which, ultimately, gives those companies an edge on their competition.
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, “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 – it’s our founding story, our mission and our roadmap.