Friday Apr 04, 2014

Turning Big Data into Real-Time Action for a Greater Customer Experience

The power shifted to us, consumers. The digital revolution allows us to access broader set of services, and communicate without boundaries. Today we demand more and better choices in a competitive market, putting pressures on businesses to catch up with our expectations.

By offering differentiated and improved experience to their customers organizations see that they can drive revenue growth via higher loyalty, and improved brand perception.  Because technology is a key enabler for delivering superb and consistent customer experience across all touchpoints, in recent years customer experience solutions have become a top priority for CIOs. Thanks to the availability of big data analytics, organizations can now analyze a broader variety of data, rather than a few basic data points, and gain deeper insight into their customers and operations. In turn, this deeper insight helps align their business to provide a seamless customer experience.

In our digital, fact-paced world we produce large volumes of data with unprecedented velocity. This data contains perishable value that requires fast capture, analysis, and action to be able to influence the operations or the interaction with the customer. Otherwise the insight or action may become irrelevant, which decreases the value for the customer and the organization significantly.  To extract the maximum value from highly dynamic and perishable data, you need to process much faster and take timely action. This is the main premise behind Oracle's Fast Data solutions, which we have discussed in previous blogs and webcasts.

Real-time data integration and analytics play a crucial role in our new world of big and fast data. Organizations that look into leveraging  big data to create greater customer experience, need to evaluate the analytical foundation behind their customer-facing systems and resulting interactions, and determine whether they can improve how and when they collect, analyze, and act on their ever-growing data assets.

In our next webcast my colleague Pete Schutt in the Oracle Business Analytics team and I will discuss how organizations can create value for their customers using real-time customer analytics, and how to leverage big data to build a solid business analytics foundation using the latest features of Oracle Data Integration and Oracle Business Analytics. We will provide multiple customer examples for different solution architectures.

Join us on April 15th 10am PT/ 1pm ET by registering via the link below.

Turning Big Data into Real-Time Action for a Greater Customer Experience

Tuesday, April 15th 10am PT/ 1pm ET

Until we meet at this webcast, please review my related article on this topic published on DBTA earlier this year:

Friday May 31, 2013

Improving Customer Experience for Segment of One Using Big Data

Customer experience has been one of the top focus areas for CIOs in recent years. A key requirement for improving customer experience is understanding the customer: their past and current interactions with the company, their preferences, demographic information etc. This capability helps the organization tailor their service or products for different customer segments to maximize their satisfaction. This is not a new concept. However, there have been two parallel changes in how we approach and execute on this strategy.

First one is the big data phenomenon that brought the ability to obtain a much deeper understanding of customers, especially bringing in social data. As this Forbes article "Six Tips for Turning Big Data into Great Customer Experiences" mentions big data especially has transformed online marketing. With the large volume and different types of data we have now available companies can run more sophisticated analysis, in a more granular way. Which leads to the second change: the size of customer segments. It is shrinking down to one, where each individual customer is offered a personalized experience based on their individual needs and preferences. This notion brings more relevance into the day-to-day interactions with customers, and basically takes customers satisfaction and loyalty to a new level that was not possible before. 

One of the key technology requirements to improve customer experience at such a granular level is to obtaining a complete and  up-to-date view of the customer. And that requires integrating data across disparate systems and in a timely manner. Data integration solution should move and transform large data volumes stored in heterogeneous systems in geographically dispersed locations. Moving data with very low latency to the customer data repository or a data warehouse, enables companies to have a relevant and actionable insight for each customer. Instead of relying on yesterday's data, which may not be pertinent anymore, the solution should analyze latest information and turn them into a deeper understanding of that customer. With that knowledge the company can formulate real opportunities to drive higher customer satisfaction.

Real-time data integration is key enabling technology for real-time analytics. Oracle GoldenGate's real-time data integration technology  has been used by many leading organizations to get the most out of their big data and build a closer relationship with customers.  One good example in the telecommunications industry is MegaFon. MegaFon is Russia's top provider of mobile internet solutions. The company deployed Oracle GoldenGate 11g to capture billions of monthly transactions from eight regional billing systems. The data was integrated and centralized onto Oracle Database 11g  and distributed to business-critical subsystems. The unified and up-to-date view into customers enabled more sophisticated analysis of mobile usage information and facilitated more targeted customer marketing. As a result of  the company increased revenue generated from the current customer base. Many other telecommunications industry leaders, including DIRECTV, BT, TataSky, SK Telecom, Ufone, have improved customer experience by leveraging real-time data integration. 

Telecommunications is not the only industry where single view of the customer drives more personalized interaction with customers. Woori Bank  implemented Oracle Exadata and Oracle GoldenGate.  In the past, it had been difficult for them to revise and incorporate changes to marketing campaigns in real time because they were working with the previous day’s data. Now, users can immediately access and analyze transactions for specific trends in the data mart access layer and adjust campaigns and strategies accordingly. Woori Bank can also send tailored offers to customers. 

This is just one example of how real-time data integration can transform business operations and the way a company interacts with its customers. I would like to invite you to learn more about data integration facilitating improved customer experience by  reviewing our  free resources here and following us on Facebook, Twitter, YouTube, and Linkedin.

Image courtesy of jscreationzs at FreeDigitalPhotos.net

Thursday Mar 07, 2013

5 New Data Integration Requirements for Today’s Data-Driven Organizations

How are the latest technology trends affecting data integration requirements? Read about the 5 key data integration requirements and Oracle's Data Integration product strategy in meeting these requirements.[Read More]

Monday Feb 25, 2013

Connecting Velocity to Value: Introducing Oracle Fast Data

To understand fast data, one must first look at one of the most compelling new the breakthroughs in data management: big data. Big data solutions address the challenge today’s businesses are facing when it comes to managing the increasing volume, velocity, variety of all data - not just data within as well as about the organization. Much of the buzz and to-do around big data has been around Hadoop, NoSQL technologies, but little has been talked about velocity. Velocity is about the speed this data is generating. In many cases the economic value of this data diminishes fast as well. As a result, companies need to process large volumes of data in real-time and make decisions in a more rapid fashion to create value from highly-perishable, high-volumes of data in business operations.

This is where fast data comes in. Fast data solutions help manage the velocity (and scale) of any type of data and any type of event to enable precise action for real-time results.

Fast data solutions come from multiple technologies, and some of the concepts, such as complex event processing and business activity monitoring, have been in use in areas such as the financial services industry for years. But often, the pieces were used in isolation—a complex event process engine as a standalone application to apply predefined business rules to filter data, for example. But when these concepts are tied to analytics, capabilities expand to allow improved real-time insights. By tying together these strands, companies can filter/correlate, move/transform, analyze, and finally act on information from big data sources quickly and efficiently, enabling both real-time analysis and further business intelligence work once the information is stored.

Oracle’s Fast Data solutions offer multiple technologies that work hand-in-hand to create value out of high-velocity, high-volume data. They are designed to optimize the efficiency, scale for processing high volume events and transactions.

[Read More]

Friday Sep 21, 2012

Tackling Big Data Analytics with Oracle Data Integrator

 By Mike Eisterer

 The term big data draws a lot of attention, but behind the hype there's a simple story. For decades, companies have been making business decisions based on transactional data stored in relational databases. Beyond that critical data, however, is a potential treasure trove of less structured data: weblogs, social media, email, sensors, and documents that can be mined for useful information.

 Companies are facing emerging technologies, increasing data volumes, numerous data varieties and the processing power needed to efficiently analyze data which changes with high velocity.

 

 

Oracle offers the broadest and most integrated portfolio of products to help you acquire and organize these diverse data sources and analyze them alongside your existing data to find new insights and capitalize on hidden relationships

 

Oracle Data Integrator Enterprise Edition(ODI) is critical to any enterprise big data strategy. ODI and the Oracle Data Connectors provide native access to Hadoop, leveraging such technologies as MapReduce, HDFS and Hive. Alongside with ODI’s metadata driven approach for extracting, loading and transforming data; companies may now integrate their existing data with big data technologies and deliver timely and trusted data to their analytic and decision support platforms. In this session, you’ll learn about ODI and Oracle Big Data Connectors and how, coupled together, they provide the critical integration with multiple big data platforms.

 

Tackling Big Data Analytics with Oracle Data Integrator

October 1, 2012 12:15 PM at MOSCONE WEST – 3005

For other data integration sessions at OpenWorld, please check our Focus-On document

If you are not able to attend OpenWorld, please check out our latest resources for Data Integration.

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