HP Autonomy is releasing a new marketing analytics hub that it describes as a milestone in its efforts to carve out a larger slice of the marketing analytics pie. It's not just a new release, but also the development of a new ecosystem that pulls together HP technology and its partners in a way it hasn’t managed to do before.
This is not the first time HP has made dramatic claims around its releases — it made similar boasts about its marketing cloud in June and TRIM 8 electronic document and records management system in August. But today’s release of the HP Digital Marketing Hub (DMH) is realistically a big deal, no matter how you look at it.
The fist thing that really should be said here is that it is just the latest indication that HP is successfully integrating the technology it bought with Autonomy into its wider portfolio.
It also shows that HP is managing to integrate all the other technologies that it has bought in recent years to produce some cutting edge products. In particular, this pulls together HP Autonomy applications, HP Vertica, new research from HP Labs and uses the HP Converged Cloud.
Before the release, we sat down with Gabriele Di Piazza, HP Autonomy’s VP of Marketing Optimization, and Sunil Menon, CTO for Marketing Optimization at HP Autonomy, to find out more about the new release.
The digital marketing hub was designed to solve a problem that is increasingly common across HP Autonomy's install base, Menon said.
Like many enterprises using marketing analytics, HP Autonomy's clients are trying to work out and improve the yield from conversion rates and develop strategies around this. Menon continued:
…One of the unique challenges they had was that either they were relying on historical data to figure out what had happened in a particular marketing campaign, for example, but it was becoming very hard to answer why it happened. The approach of big organizations to the problem to date has been to build out large data warehouses and then employ marketing experts or data scientists to build out statistical models using that information. From that, they develop a strategy for the coming three months, or identify the churn rate over a given period of time…
However, while that works for long term forecasting and behaviors, it is not practical for smaller market segments or short-term campaigns, which most customer-facing workers have to manage. The bottom line, Menon said, is to try to find a way to persuade people to buy or engage with a particular promotion or campaign:
How do you get that information, how do you find the drivers, what are the main elements that will push them? Workers will have key information with as many as 50 key indicators, including location, interests, geography, income etc. but what attributes are relevant to what particular set of circumstances and campaigns? That is what we are offering here — a way of identifying this.
Real-Time Behavior Analysis
In essence, the digital marketing hub offers not just simple market segmentation, but segmentation with behavioral analysis in real-time to predict purchasing and engagement drivers and offer insights into how customers will act in different circumstances. The result is highly targeted campaigns with higher conversion rates, Di Piazza said.
We believe we have a very good value proposition for marketers offering them new ways to customer conversions to revenues… this is the combination of more than a year of work and consists of a set of technologies across HP from big data to cloud and new innovations from HP Labs. While this is a great new product, we also believe it will bring value back to our existing product portfolio.
Think of it as an entire ecosystem. Di Piazza said the marketing technology space is very fragmented now and that digital marketing hub pulls many of those fragments together.
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