Companies and organizations around the globe are eager to gain a competitive edge with Big Data technologies and tools. As Big Data technology, customer experience, and data science come together to help marketers learn more about customer behavior, data-driven business practices are becoming the norm. Marketers, data scientists, and technologists are striving to make the most of Big Data management technologies and applications, such as machine learning and data analytics, to deliver more relevant customer experiences. That’s why NGDATA, the customer experience management solutions company, launched NGDATA Lab in June 2015. This research-driven initiative will advance industry-wide knowledge and best practices for progressing Big Data technology, uncover strategies for data governance, and improve the customer experience.
The term “Big Data” gets tossed around so frequently these days, that it’s important to know exactly what the term means. MongoDB perfectly captures Big Data, by describing it as “technologies and initiatives that involve data that is too diverse, fast-changing or massive for conventional technologies, skills, and infrastructure to address efficiently. Said differently, the volume, velocity, or variety is too great.” Yet, today’s cutting-edge Big Data technologies and tools are helping organizations and enterprises gain unprecedented business value.
In fact, Mike Montgomery, a Forbes contributor, reports that Big Data is so valuable to companies that even small businesses should consider Big Data management technologies and applications for solving challenges. Montgomery also highlights the fact that the IDC suggests there will be 44 trillion gigabytes of information in 2020, which is nearly ten times the amount of data out there today. None of that data, however, is worth anything until it is mined and analyzed for useful information and patterns. The 22% of the available data that is useful is where the Big Data resides. The realm of possibility that exists for business thanks to Big Data is nearly limitless.
Drilling down the data to useful details regarding customer behavior is NGDATA’s specialty. With Lily Enterprise, you have the power to build individual Customer DNA profiles in real-time, and then deliver more personalized customer experiences. Only Lily connects all of your data sources in real time, allowing you to leverage all of your Big Data. NGDATA puts your Big Data to use for you so that you are better able to engage customers, resulting in more effective inbound interactions and marketing programs, for an overall greater customer lifetime value.
Lily Enterprise is the Big Data technology solution that gives you the deep customer insights you need, by delivering real-time updated scores for each customer. Lily compares those customer scores to dynamic sets of customers that you define, and with automatic trend calculation, you are able to track and see how each customer evolves over time, versus a single point in time, resulting in a 360-degree view that accurately portrays your customer’s needs and preferences. The best part about our Big Data technology is that Lily provides a standard, customer-centric approach, along with thousands of pre-defined metrics, that is centrally managed, continuously updated, and constantly available for all applications, so that you have the knowledge and insight required for delivering an optimized and relevant customer experience every time.
Get real-time insights on customers and trends with Lily, an advanced customer analysis and data driven software solution. Learn more about how Lily can transform your business by getting in touch via email or phone to speak with an NGDATA representative directly.
Unlike many Big Data technologies, Lily discerns between two sources of data that matter most: interaction-based data and entity-based data. Interaction-based data originates from payments, online tracking, and other types of transactional behavior. Interaction-based data is available in individual interaction log lines, either in large batches or in a streaming fashion. Lily ingests the data and augments interactions with contextual information. On the other hand, entity-based data more often is managed by customer relationship management (CRM) or contract management systems. Entity-based data commonly is managed in relational databases and may be supplied in batch and as individual record updates.
Lily ingests all of the data, discerns the two types, and identifies individual customers across all of the available data sources. Identification may be based on externally supplied identification codes to support external master ID management, or you may opt to use the Lily User Web Tracking Service so that Lily generates its own unique IDs. Regardless of the data type or IDs, Lily links both interaction-based and entity-based data to individual customer IDs while ingesting data. Lily then matches the individual data records based on IDs to create unique master records for each customer, forming the basis for the Customer DNA.
Find out more about Lily’s data driven, advanced tech solution for enterprises. Or, talk with a representative of NGDATA for more information about how Lily can transform your enterprise intelligence by contacting us via email or phone.
With NGDATA’s Lily Enterprise, companies get fully automated customer experience across all channels. The result is greatly improved customer satisfaction levels, reduced customer attrition, enhanced customer retention, and higher profit margins. Lily Enterprise makes it possible for you to truly know your customers in order to grow your business. From Big Data to Customer DNA, Lily delivers deep customer insights, operationalized analytics, and the omni-channel impact that your company needs to transform your customer experience.
Take control of the future of your enterprise with Lily’s big data technology solution for customer-centric enterprises. Learn more about how Lily can take your Big Data analytics to the next level by contacting us via email or phone to speak with an NGDATA representative directly.
NGDATA helps brands in data-driven industries, such as financial services, telecom, utilities and hospitality, to drive connected experiences. Our Next Generation Customer Data Platform, Lily™, puts people at the center of every business via Lily’s Customer DNA, which continuously learns from behavior to deliver compelling experiences for companies, such as Belfius Bank, Innogy and Telenet. NGDATA is headquartered in Gent, Belgium and has offices in the United States, Europe and Asia-Pacific.Learn More...