NGDATA was included in Forrester’s ‘Now Tech: Customer Analytics Technologies, Q1 2020’ report. In the category of midsized companies with $15M to $100M in annual category revenue, Forrester categorizes NGDATA’s platform as a ‘Customer-analytics-focused CDP’.
In the report, Forrester states the following:
‘Brands that want to leapfrog competitors with customer analytics should consider customer-analytics-focused CDPs’.
CLTV and profitability increase
NGDATA’s Intelligent Engagement Platform (IEP) leverages advanced customer analytics in an intuitive manner with a business-user friendly interface and provides comprehensive customer profiles updated in real-time. From next-best-action analysis to behavioral customer segmentation that triggers relevant communications for commercial growth. Next to that, our platform automatically and instantly alerts our clients when there are significant changes to customers’ behavior triggering the appropriate action.
This ultimately increases your organization’s CLTV and profitability, without having to employ a team of data scientists as NGDATA’s IEP leverages machine learning to make sure you can automate smarter customer communications in real-time.
The following table is taken from Forrester’s report and shows the strengths of Customer-analytics-focused CDPs, compared to Customer analytics solutions and Customer analytics toolkits:
Customer-analytics-focused CDP’s strengths
Taken from the chart above, Customer-analytics-focused CDPs were found to have high functionality in the following segments:
Customer data management
At the heart of the NGDATA IEP, you can find the Customer DNA. This is the IEP’s comprehensive customer profile that enables you to engage in real-time with individual customers throughout their customer journey. Customer DNA consists of attributes and values that describe customers in a very detailed and all-inclusive way through the seamless integration of both structured and unstructured data.
Behavioral customer segmentation
When a customer engages with your company via the app or website, our IEP searches all available offers and ranks only those that are valid. This is based on a scoring system called the Opportunity Index that takes into account the individual customer’s attributes. As a business user, you can build your proper audiences intuitively, yet the tool also provides AI capabilities built for the marketer to discover new opportunities: clustering and look-alike modeling. With clustering, the platform automatically divides a group of contacts into smaller clusters with people who have similar profiles based on all attributes; Look-alike modeling allows you to select a look-alike group of customers who resemble the most to the ‘exemplar’ customers whose behavior you want to trigger again with the look-alike audience.
Customer engagement analysis
Our platform provides a real-time engagement – or interactions – analysis. The business user can see when an offer is being engaged with and through which channel. But it is about more than just capturing the information, as this input shows the customer’s response to the presented experiences, it gives you the opportunity to determine what their preferred channel is, based on the type or timing of the experience. This feedback loop is essential to learn when and how you can best engage with every individual customer, and in which stage of the buyer journey. You can then focus on what the next best actions are for each individual customer, while you are continuously learning.
NGDATA’s platform has an intuitive UI that empowers business users to manage activity on a daily basis, without any required coding knowledge or the help of data and IT teams. This UI is a key feature in our platform that gives the business user the freedom and capacity to manage activities successfully on a daily basis. This goes from setting up campaigns to measuring the results and subsequently tweaking and optimizing them to boost the campaign’s success. A self-service marketing tool.