Big Data analytics company, Teradata added new capabilities to the Teradata Customer Journey solution that will give marketers easier access to analytics, dynamic visualizations, machine learning and predictive simulations.
This means marketers can execute thousands of multi-channel campaigns with Teradata’s built-in automation and advanced analytics capabilities. The new features will start being available in Q2, 2017 with all features implemented by June 2017.
With this upgrade, Teradata Customer Journey solution is placing more analytical abilities in the hands of marketers for a deeper understanding of customers. This will facilitate marketers to provide personalized experiences and optimize campaigns real-time on multi-channel platforms like digital, mobile or in-store.
Dan Harrington, Executive Vice President, Consulting and Support Services at Teradata, comments: “Our solution brings together all the required technology, plus the consulting expertise to achieve faster time to market. With Teradata, organizations can have a complete customer journey hub, without the implementation challenges of cobbling together a solution from multiple vendors.”
This update combines Teradata’s expertise in data integration, advanced analytics, and multi-channel interaction management.
The newly added capabilities include —
- Integrated customer path analytics – It lets marketers use the capability to understand entry points to engage and target customers on a specific path with personalized offers.
- Communication journey visualizations – It shows how customers actually flow through a multi-step campaign, so marketers can evaluate factors driving offer acceptance and decline decisions. Parameters can then be refined for improved marketing performance.
- Visualizations for self-learning models – Displays the relationship between customer attributes (age, income, life stage, life event, etc.) and response rates. This helps marketers understand the profile of customers most likely to respond to an offer and plan communications.
- Real-time offer simulation – It predicts the impact of a new message, offer or strategy on existing campaigns to optimize the offer strategy of marketers.
- “Bring your own model score” – This feature allows marketers to inject third party or internally generated model scores into the arbitration logic of self-learning models to optimize the message for any given customer, ensuring no previous work goes to waste.
By 2018, companies that have fully invested in online personalization will outsell companies that haven’t, by more than 30%, as per a study by Gartner. Amongst the brands that have soon realized this to stay ahead of the game is Lowe’s companies, Inc that invested in online personalization through Teradata.
The company Director of Enterprise Analytics, Suzanne Smith states-“Customer engagement has become more complex, costly and problematic with the multiplicity of channels, technologies, analytic applications and new competitive pressures. However, we are making good progress with the broad expertise of Teradata consultants who are helping us discover, drive and optimize customer journeys to increase return on marketing.”
Teradata also offers consulting resources to ensure companies realize these capabilities, quickly and at the right price, to achieve higher business value. It opted for IPO in 2007. It earned revenues worth 2.32 billion USD in 2016. Apple, ABN AMRO Bank, Aditya Birla Financial Services Group, AT&T, Bank of America, British Airways, Cisco, and DELL, are among the well-known brands that leverage Teradata capabilities.