By Richard Lefebvre-Oracle on Jun 20, 2014
Of course not. If it were easy, all brands would be on their game, delivering these perfect and profitable customer experiences every day. If I had been browsing guitar amps lately and I was near a guitar store this weekend, I’d get a social message to the effect of, “Hey, we saw friend x recommended brand y guitar amp to you. Swing by and we’ll give you 20% off on it. Rock on.”
That kind of experience rarely happens to me (maybe because I don’t play guitar). For those to happen, social big data, combined with other public and enterprise data, needed to “learn” what I was seeking and which brand I was leaning toward due to peer-to-peer recommendation.
Then, it had to retain and “know” that info so that when a real-time location signal came through, that knowledge could be tapped and leveraged to create and deliver the message before the moment is lost. It not only requires big data, it requires fast data.
All social marketing ecosystems are not created equal. Few are capable of the size and speed of data gathering, processing, filtering and delivery that makes a social enabled enterprise even possible. A social marketing platform that can tap into the kind of size and speed Oracle can serve up would position you exceptionally well against your competition.
On June 10, Larry Ellison announced the Oracle Database In Memory Option, an add-on to the Oracle 12c database that super-boosts real-time analytics and transactional workloads. How much of a super-boost? Real-time analytics queries that are 100x faster and online transaction processing that’s twice as fast. It’s possible because your most important info can be held in dynamic random-access memory (DRAM) for instant access. And data can be stored in both the columns needed for analytics and the rows used for transactions.
Big data that lags behind the customer’s speed of life doesn’t do you much good. They’re out there right now, researching and buying on mobile. Half of all local searches are performed on mobile. eMarketer estimates mobile commerce sales should go over $113 billion by 2017. Mobile use continues to explode and digital payments are only getting easier to do.
The future of the enterprise is this: a massive shared customer data pool continuously pulling from multiple data sources, available to all business functions for insight and action in perfect alignment so customer interactions aren’t carried out in department silos, generating metrics that inform against varied business goals and can be turned around for real-time, on-location customer engagement and conversion. Wowsers.
Will you be able to handle that coming big data volume as well as the need for speed?