A last June release in the customer experience management space is from Oracle. While the value of customer experience management cannot be overestimated, without customer insights, it’s not very effective. To provide that, Oracle has just released Oracle Retail Customer Analytics.
At first glance it might seem a bit limited in that it focuses on the retail sector, but if you think about, everyone’s trying to sell something, so in a sense everything is retail.
Oracle and Customer Management
The timing of this particular release couldn’t be more appropriate though, if you remember earlier this week Oracle talked us through its thoughts on customer experience management at the Experience Revolution event in New York.
Let’s just take a quick look at that again as this business intelligence release fits in rather nicely with the strategy. Oracle Senior VP for Oracle CRM, Anthony Lye told us that Oracle’s CX strategy is a combination of two years of work -- both organic development and through acquisitions to put together a solution footprint that you won't see anywhere else.
He said we are now in a process of moving beyond CRM and that today experiences are built, maintained and managed outside of CRM. To manage this, customers need a vendor that can:
- Abstract data away from the CRM system and master data
- Offer experienced based apps that are multi-channel and cross channel
- Social Apps
- A range of platform services, notably Business Intelligence BI
With Oracle, users already have a lot of this. It has worked in the CRM space for many years and, if sometimes slowly, has changed as the market changed.
Clearly in the last 12 months analytics and the ability to provide meaning through business intelligence has developed at an astounding rate, so much so, that vendors like Oracle are now developing specific solutions for specific verticals.
Oracle Retail Customer Analytics
And we’re back to Oracle Retail Customer Analytics, because it is just such an application. It provides managers in the retail industry with insights into everything that impacts on their products for better decision making.
Using data that is available throughout the enterprise, Oracle Retail Analytics enables user to focus on specific customer buying habits. It offers information like:
- How products are selling across demographic groups?
- How products are selling across behavioral attribute groups?
- What are my most valuable customer segments?
And so on. It does this with 10 pre-built dashboards based on nearly 100 key performance indicators and with rapid information delivery times enables users to adapt on the fly.
Oracle Retail Analytics
But this is not Oracle’s first foray into business intelligence in the retail space. It already offers enterprises a range of products including Retail Merchandising Analytics, which provides visibility to item and store performance and a lot more besides.
All the retail analytics applications are optimized to run on Oracle Exadata Database Machine and Oracle Exalogic Elastic Cloud, which may explain the up take both, which we’ve seen in the Oracle figures over the past few quarters.
They are also pre-integrated with several Oracle and third-party applications and can be implemented alone or together to accommodate needs. Needless to say, they also support mobile workforces and can deliver reports to mobile devices, or desktops, again depending on need.