Long gone are the days when a banner ad on a website was the leading edge for targeted merchandising programs.
Over the course of the last few years, we observed a dramatic qualitative shift in how companies have applied analytical decision management techniques to drive customer experience optimization programs. It used to be the case that marketers were happy when they were allocated a dedicated piece of real-estate on their company's website (or contact center or any interaction channel for that matter) that they could use at their discretion for the purpose of one-off targeting programs.
What companies now want is granular control over the whole user experience so that the various elements composing this cross-channel dialog can be targeted and relevant. Such a shift requires a new approach to analytics, based on understanding how the various elements of the user interaction relate one to the other.
Let me introduce the concept of Decision Graph in support of this idea.
To move away from electronic billboard/banner ad/product spotlight optimization and towards customer experience optimization, analytics must shift away from focusing on "the right offer for the right customer." The focus of the Decision Graph is to identify "the right user experience for the right customer." This change of focus has a critical impact on your analytics requirements as one-dimensional targeting approach for matching customers with offers won't address the need to optimize multiple dimensions at once.
This is where the Decision Graph comes in. Let's consider the following graph eliciting the relationships between the various facets of the user experience to be optimized in the context of a Marketing Optimization use case.
Now imagine that for every offer presentation on any interaction channels, your analytical engine can record and identify the characteristics of the customer interactions that are associated with success (say click or offer acceptance) across all those dimensions.
Let's take an example.
You can now generalize the idea and imagine that this graph collects information about all marketing events across all channels and you end-up with an analytical system that let all the actors of customer experience optimization discover the relationship between the different facets of user interactions
With the Decision Graph:
Now contrast this with a system that would only record the fact you've subscribed to the Electronic Bill Payment option as part of the "Go Green" Campaign and you will get a sense for the power of the Decision Graph. The bottom line is that companies need analytical systems that operate at multiple levels of the Decision Graph if they want to delight their customers with relevant customer experiences.
Find out more about Oracle Real Time Decisions and see how Oracle Analytics Cloud can help you improve your Marketing campaigns.