Tony Brown, Teradata

Teradata is updating its Customer Journey analytics solution to give marketers better access to visualizations, machine learning and predictive simulations.

The Dayton, Ohio-based company announced the platform update at the Teradata Universe Conference in Nice, France. Officials said the updates combine Teradata's expertise in data integration, advanced multi-genre analytics and cross-channel orchestration.

"Teradata has the ability to coordinate dialogue across any channel, inbound or outbound," Tony Brown, vice president of marketing and business development at Teradata, told CMSWire. "This is different from other solutions that tend to focus on email or digital messaging but cope poorly with messaging/prompts for agents in call centers and branches."

Inside Customer Journey

Teradata, which has 10,000 employees in 43 countries, features a Customer Journey solution aimed at giving marketers a 360-degree view of their customers.

Components include:

  • Customer Interaction Manager
  • Real-Time Interaction Manager
  • Aster Analytics
  • Customer Satisfaction Index

Integrated Path Analytics

One of Teradata's updates announced today — integrated path analytics — includes giving marketers the ability to understand customer needs and react in the right way at the right moment.

"Customers take journeys with brands all the time," Brown said. "These journeys could be for a multitude of reasons, and could lead to a multitude of outcomes."

The updates to the customer platform today helps marketers see opportunities such as when a customer abandons a sales transaction, experiences poor service or shows interest in a new product or service but hasn’t yet bought. When a customer follows a sequence of pages that indicates they are interested in a particular product but abandons, a message is triggered to offer of that product.

Retention offers are automated for churn suspects.

"Integrated path analytics enables the marketer to set up an automated trigger to present a message or offer to a customer when they follow one of these paths," Brown said. "The automation aspect of this helps with the challenge of dealing with each customer, and all the possible journeys they could be taking."

Teradata Customer Journey

Communication Journey Visualizations

Teradata has for many years included a "Journey Builder" capability that allows a marketer to assemble a multi-step, multi-channel communication to enable automated and personalized dialogue with customers.

"Now," Brown said, "to help optimize the design of these multi-step communications, we are providing a quick and easy visualization of how customers actually flow through the multiple steps in the communication and the channels with which they interact, providing key metrics such as counts and response rates at each step."

Marketers through these visualizations can see how communication is performing, correct design errors and encourage more customers to respond.

Visualizations for Self-Learning models

Self-learning algorithms in Teradata’s Customer Journey solution automatically flow for marketers to help determine the "next best offer" for each customer.

"The challenge with self-learning is that it is not always trusted," Brown said. "It is seen as a 'black box’. If it’s not trusted, and not used, then business outcomes will be sub-optimal. Teradata’s Customer Journey solution now includes visualizations that open up the self-learning ‘Black Box’, and describe what the models are doing, and which types of customers respond to each offer."

Real-Time Offer Simulation

Teradata's engines make offer decisions in real-time based on specific attributes of the offer/message and the individual customer. The system, and not a human, decides, based on business configured rules and arbitration logic.

"Understanding the impact of inserting new rules, logic or offers into the mix before going into production is paramount," Brown said. "Our solution now shows how many offers would be generated based on the new rules (compared to current rules) and how they would be allocated across channels."

Teradata’s Customer Journey solution also provides a real-time decisioning capability known as “arbitration” to determine which the best offer/message or prioritized group of messages for each customer in real-time.

"Sometimes, a model already exists for an offer," Brown said, "and including this in the arbitration rules delivers a better result."

Teradata is in the midst of a company refocus. Last September at a customer conference it emphasized its focus on analytics solutions and touted its three core offerings: business analytics, analytical architecture consulting and hybrid cloud products.

It had acquired and nurtured Aprimo, a marketing applications platform, known as Teradata Marketing Applications. But it sold that line of business last spring.