By: Nathan Joynt
CX Cloud Business Group Content Director
Business leaders realize that customer experience (CX) is the defining strategic imperative to delight customers, compete, and win in the modern digital age as control of the buyer-seller relationship has shifted in favor of the buyer.
But critical decisions must be made. Which technology should we buy? Who should we partner with? How will we integrate solutions, connect customer data, and maximize limited budget? How will we select a vendor when there are more than 5,000 CX marketing solutions alone!
Oracle is an expert in CX technology, Cloud IT, and has developed practical artificial intelligence (AI) technology that’s embedded in Oracle applications. Oracle focuses on simplifying technology decisions and usage so businesses can focus on innovation and exceed their skyrocketing customer expectations.
Here are five reasons why Oracle CX Cloud Suite is the best partner choice for every aspect of CX strategy and digital transformation.
1. Oracle CX Cloud Suite is the most complete, connected, and configurable offering to leverage across any industry or business model.
The implications of a complete, integrated suite of cloud-based CX technologies is that businesses will immediately save more money and have the ability to incrementally increase revenue all while empowering their workforce to develop preferred customer experiences.
In the recent report, “The Forrester Wave™: Digital Experience Platforms, Q3 2017”, Forrester mentions Oracle as the sole leader. Forrester states current market activity well:
“The digital experience platform market matters because companies are looking to provide digital customer experiences across every step of a customer's journey. And that requires software that spans marketing, commerce, service, analytics, and more…. Oracle has one of the broadest portfolios—including content, commerce, marketing, data, analytics, and customer care—of any vendor we evaluated. As one reference told us: ‘No one else has the length and breadth of integration and future development dollars. I think Oracle is in this for the long haul.’"
2. Artificial Intelligence (AI) is transforming customer engagements. Oracle offers practical and immediately useful Adaptive Intelligent Apps across Oracle CX applications.
Customer behaviors are difficult to predict. No two customer journeys are alike. Customer journey mapping and behavioral analysis are favorite techniques for understanding general customer behavior. But these human-driven methods fall short in scale and personalization. It's implausible to expect manual approaches to provide the perfect, individualized experiences customers will come to expect. AI technology solves this CX challenge.
Embedding AI into applications has several far-reaching benefits:
3. Oracle AI technology is fueled by Oracle Data Cloud—the world’s largest third-party data marketplace, which delivers improved customer understanding for consumers and businesses.
Oracle Data Cloud provides more than 5 billion global consumer and business IDs. Data can be segmented and selected from more than 60,000 data segments sourced from 1,500 data sources and 15 million websites. It has behavioral data gleaned from $3 trillion in annual observed consumer spending.
Oracle’s Adaptive Intelligent Apps use Oracle Data Cloud information and your first-party customer information to generate real-time customer insight. Those insights give you personalized, connected, and relevant customer experiences.
So the combination of AI and Oracle Data Cloud become a valuable competitive advantage for business leaders, as it provides the enhanced insight on customers that can help close sales faster, resolve service issues faster and improve digital conversion rates across your business.
4. Oracle Cloud expertise helps businesses simplify complex operations, maximize budget, and reduce costs.
Oracle offers the only cloud needed to run an entire organization—cloud applications for the front and back office, platform as a service (PaaS) for integrating and extending applications, and infrastructure as a service (IaaS) for leveraging Oracle’s cloud compute power. And Oracle’s newly announced autonomous databases and automated software offerings allow any business to develop any preferred IT operation and reallocate human labor and associated costs out of database setup and management.
The choices of Oracle's deployment models reflect this as well. You can use Oracle’s public cloud to access our IaaS, PaaS, SaaS, and DaaS (data as a service) capabilities. We also offer Oracle Cloud at Customer, which enables customers to run Oracle Cloud services on-premises in their data center. It's hard to find this level of integration, completeness, flexibility, and autonomy from any other technology vendor.
5. Industry analysts list Oracle CX applications in market-leading positions in more than 29 reports.
These individual analyst reports prove Oracle offers best-in-class technology with more than 20 individual CX applications across sales, marketing, service, and commerce lines of business. Oracle understands that the creation of an integrated CX technology suite may be an iterative process, addressing functional CX needs across the organization. Therefore, Oracle’s applications are modular, scalable, and highly configurable, seamlessly fitting together to serve ever-changing business requirements.
"At Oracle, we feel any organization looking at CX in a more strategic and considered manner is going to favor the completeness, integration, and depth of Oracle CX Cloud Suite to help in their business transformation by incorporating innovations, applications, and services from Oracle to help them deliver better customer experiences." —Des Cahill, Oracle’s head CX evangelist
Execution Is the Challenge to Exceeding Skyrocketing Customer Expectations
It's a crowded market and placing focus on a differentiated customer experience is key to convincing prospects and current customers to come back for more. As organizations look to grow top and bottom lines they are increasingly aware of the need to digitally transform their operations.
As if it were that simple.
Yesterday it was about moving to the cloud and cloud disruption. Today it's all about taking the next step—leveraging artificial intelligence, IoT, chatbots, and other smart, disruptive technologies. And perhaps that's the key. It's all about getting smarter. Digital transformation is a conviction and a process, not a final state. The customer satisfaction objective is never going to be complete. Buying behaviors will increasingly evolve and get smarter. So too then must the business.
Learn more about Oracle's suite of smarter CX technology offerings:Read The Forrester Wave™: Digital Experience Platforms, Q3 2017