- October 3, 2014
- Posted by: admin
- Categories: Blog, Oracle OpenWorld
Big data arrives much more rapidly, often as real-time or streaming data, and needs to be used more rapidly: Real-time data only adds value if turned into real-time insight. A basic truism that needs to be kept closer is that merely having more data does not mean delivering more customer value.
Customers value results from new insights into customers and from building deeper relationships with them. Only from increasing the understanding of the value or potential of each customer and proactively using this insight to treat them more appropriately, can Big Data propel customer value.
An instant access to customer information, claims transactions, support information and social media metrics is what companies need to work on – with the ever-increasing touch points, companies across all industries need to act fast. The letter ‘V’ appears to be the magic wand of today – if you’re handling Volumes of data , keeping in mind the Veracity and working with the Velocity to match the incoming data and proposing a good Value to it – Voila, you’re a vinner, sorry Winner!
So, you see with the online social communities populating exponentially and more and more devices getting on-board, there’s a need for solutions that require integrations of mobile devices. There’s a demand for instantaneous responsiveness and getting the current information to customers, to the customer service representatives and business analysts in real-time, taking advantage of the connectivity of all the information. Thus, it is with CX Cloud that the blending of streams of data together from device to the datacenters is made an efficient process.
Fast Data for click-stream analysis and customer experience management is a smart process that factors real-time information about millions of events (clicks or other interactions) per second into business intelligence and other decision-support applications. These “recommendation applications” help agents provide personalized service based on each customer’s experience. Click-stream analysis can help target offers and even initiative customer service interactions. For example, online chats that treat each customer personally – “it looks like you’re having difficulty deciding which portable drive to purchase… would you like to chat online with a technical representative?”.
Companies have come to the realization that the socially active, mobile and superbly-informed customer requires a smarter approach than before. They are constantly viewing the hustle bustle of competitors moving towards true cross-channel, real-time customer engagement. The CX Cloud provides that value proposition that gives companies an edge over others. It’s a strong concern that anything less will leave them behind in the race to acquire, develop and retain customers. After all, the big promise of big data is to help organizations make smart, agile business decisions based on cold, hard facts.