If you use pizza delivery, you probably know about the Domino’s Pizza app, which lets you track your pizza’s journey door-to-door. The pepperoni on the pizza (so to speak) is the ability to order your meal through Alexa, Facebook Messenger, your smart watch, Samsung TV, Ford Sync (in your car), or by texting or tweeting a pizza emoji to Domino’s.
It’s clear that technology is changing consumer expectations with lightning speed. As a small or midsize business (SMB), can you keep up?
Automation technology has been around for a while, but being able to scale automation had always been the roadblock. Personalization is not new, either, but it created static experiences that were relevant but hard to scale and maintain. And until recently, it was expensive and time-consuming to process big data, dig for insights and then develop rules for delivering personalized experiences.
Automation technology has evolved. Today, businesses can leverage artificial intelligence (AI)—or decision science capabilities—to scale automated processes, intelligently process data and deliver personalized experiences through customers’ preferred channels. The rise of adaptive intelligence —a branch of AI that uses machine-learning algorithms to learn, react, predict, and adapt without human programming—now allows businesses to scale automation cost-effectively.
The ideal scenario is that your business becomes so smart and so automated regarding customer behaviors and experiences that it can provide a real-time, one-to-one, tailored shopping/selling/servicing experience without human involvement. And without human involvement, this could be replicated indefinitely to handle any customer volume.
To achieve these capabilities, your business must gain deep knowledge of your customers and their behaviors. Adaptive intelligence makes this possible, taking data analytics into a new era by combining the power of cloud-based data with machine-learning apps.
You may believe that adaptive intelligence apps are cost-prohibitive and only accessible to large enterprises. In fact, the exact opposite is true. With today’s integrated, cloud-based apps, SMBs actually have an advantage over enterprises, because they’re not constrained by the investment in proprietary, legacy solutions that often hamstrings enterprises.
With consumer spending flat and the myriad consumer choices eroding brand loyalty, you’re fighting to keep and expand your market share. To do that, you need to deliver a customer experience that meets (or exceeds) your customers’ expectations—and the experience offered by your competitors. Adaptive intelligence solutions provide the answer.
Packaged applications are already available, and soon AI technology will become commonplace. The time is now to take advantage of sophisticated machine learning, get to market quickly and begin testing and delivering more personalized customer experiences. Although technologies are evolving fast, SMBs have the agility to get a jump on the market.
Using adaptive intelligence begins, of course, with data. You then need the ability to incorporate machine learning into your data analytics. Finally, you need to be able to deliver the resulting intelligence at scale.
Larger tech vendors like Oracle can provide purpose-built, ready-to-use apps tailored to specific business situations. The implications of this technology being readily available to small and medium businesses can’t be overstated. In April of this year, Oracle announced its Adaptive Intelligent Apps for CX. These applications are specifically designed to enhance your existing commerce, marketing, sales, and customer service applications in the Oracle CX Cloud Suite. It provides a complete package from a single vendor that will speed your AI time-to-market.
Integrating technology from a series of acquisitions, Oracle’s solution can give you unprecedented insights, such as:
With the largest data marketplace in the world, Oracle pre-integrates this data into our adaptive intelligence applications. They’re ready for your business to use along with your own first- and second-party data. The apps connect to a single source of data in the cloud so every part of your business can leverage the same set of all-encompassing data—and do it affordably.