Customers today require every interaction with a brand to be consistent, but also personalised and relevant. This is despite the ever-expanding range of channels that make building a complete picture of each individual customer extremely challenging. Delivering a better customer experience requires the integration of data from all customer touch-points, whether online or offline, and often in real time. In practice, most companies struggle to blend the technologies and siloed data to understand, anticipate and engage each individual customer holistically.
With this in mind, analytics solutions company, Teradata, has launched Customer Journey Analytic Solution, a set of capabilities for discerning the behavioural paths of each individual customer, determining the next best interaction and delivering a consistent, personalised brand experience through every channel and touch point.
With the Digital India agenda in place, companies are actively embracing cutting edge analytical solutions. The goal is to think beyond the traditional one-to-one marketing strategies and with a majority of marketers still using old school traditional practices it will be quite interesting to see how the new changes will benefit not only the organisation but customers as well. Teradata's Customer Journey Analytics solution will enable marketers to improve goals such as response rate, service, customer satisfaction - leading directly to high - impact business outcomes such as increased revenue and customer retention. This can prove to be quite revolutionary across industry segments in India,” said Sunil Jose, Managing Director, Teradata India.
Gartner Research says that by 2018, organisations that have fully invested in all types of online personalisation will outsell companies that have not by 30 per cent. According to the research firm, key areas of differentiation between vendors include the channels on which the solutions focus, the manner in which seemingly anonymous interactions are stitched together, the tools in place to provide visualization of journeys, and the outputs to other systems.
“With Teradata we were able to accurately combine detailed customer interactions and tie them back to a unique customer identifier in Teradata. Teradata Aster Analytics helped us see the bigger picture within this connected data,” said Alick Rocca, Head of Management Information/Business Intelligence,JD Williams.
Building on its overall proposition as a business solutions provider, immersed in technology, the company has also launched RACE, or Rapid Analytic Consulting Engagement, an agile, technology agnostic methodology that gives clients insight into the potential business value of analytic solutions before an investment is made.
At its core, the Teradata RACE service leverages Teradata Business Value Frameworks –intellectual property gleaned from the company’s unparalleled experience with thousands of successful client engagements. The resulting frameworks are tailored by industry and/or business function, and act as a value accelerator – identifying relevant analytic solutions to help clients achieve faster time-to-value from analytic and data investments, while reducing risks associated with complex analytic initiatives.
Teradata’s RACE service comes at a time when the potential return on investment and strategic business impact of any analytic solution is expected prior to investment, despite the complex variables in calculating projections. Key factors such as the inflow of new data sources, including IoT sensor data, as well as the proliferation of new analytic techniques, complicate the deployment and use of analytic solutions by business users.
“When companies use analytic consultants, they expect experience-based insights about what works, and what does not. Teradata consultants understand this and use proven tactics to routinely drive accelerated, high-impact business outcomes for our clients. Along with our unique consultative perspective, Teradata can also leverage its deep technical capabilities to architect, implement and manage innovative analytic ecosystems. This end-to-end program execution – something Teradata alone can deliver – makes life simpler for our clients and significantly reduces their risk,” said Dan Harrington, EVP, Consulting and Support Services, Teradata Corporation.
“RACE provides an incredible, never-before-seen outcome and benefit for enterprise customers who are seeking to understand the exact value to their investments into data analytics. With frameworks tailored by industry and business function, Teradata has ensured that for the first time, organisational teams will be able to ascertain impact on bottom-lines with a high degree of accuracy and predictability and work towards outcome based projects. For CIOs, this becomes a valuable tool that reduces the gap between perceived and actual gains to be had thereby reducing risks associated with complex analytic initiatives. With the RACE methodology Big data and analytics now becomes even more strategically aligned to business objectives and this will be a huge impetus for its adoption in Indian organizations,” added Mr Jose.
“Our research shows that users in 79 per cent of organizations don’t have the skills necessary to apply advanced analytics. This lack of skills is the major reason for dissatisfaction with their projects. Teradata’s Business Value Frameworks will help provide the skills and best practices companies need to achieve successful outcomes and a solid return on their investment,” said David Menninger, SVP & Research Director, Ventana Research.
