Oracle adds new AI services to its Customer Experience Cloud Suite
Oracle Corp. announced Tuesday that it has enhanced its Customer Experience Cloud Suite with the addition of three new products aimed at helping customers step up their digital transformation efforts.
The new products include an analytics application called Infinity, a segmentation tool for marketers called CX Audience and a new service aimed at customer retention called Loyalty Cloud.
“While the challenges we all face are a little different from department to department or company to company, the common theme for all customer experience professionals is how to lead change, not just react to it,” said Des Cahill, vice president and head CX Evangelist at Oracle. “We are focused on helping our customers remove barriers that prevent their employees from focusing on the customer and creating epic experiences.”
The first two products help to tear down these barriers by connecting customer data and applying artificial intelligence to help with analytics, thereby helping to enhance customer experiences, Oracle said.
Oracle Infinity and CX Audience both fall in the Oracle Marketing Cloud, which is part of the company’s CX Suite. Infinity is designed to grab all of the behavioral data within marketing organizations and analyze it in real time. It can then be used to trigger actions according to user activity, such as sending discounts to certain customers once they meet specified criteria.
Meanwhile, marketers can use CX Audience to enrich data without any assistance from information technology experts. The idea is that this data can be leveraged by marketers to predict future results and discover new segments of potential customers. The platform comes with reusable filters and design tools for users to publish content for different audience segments. The service can perform segmentation and analysis of data in a matter of minutes, Oracle said. CX Audience also integrates with Oracle’s Data Cloud, so marketers have a wealth of data to start working with.
As for the new Loyalty Cloud, this is all about customer retention, Oracle said. The service helps organizations to deliver loyalty programs across multiple channels.
“Not only does it cost seven times more to acquire a new customer than to keep an existing one, but a loyal customer can help an organization acquire more customers, increase revenue and differentiate its products or services,” said Katrina Gosek, senior director of digital customer product strategy at Oracle.
Besides the new tools, Oracle has also introduced what it calls adaptive intelligence capabilities for sales, marketing and commerce. For example, salespeople can now take advantage of new AI-powered forecasting within Oracle’s Sales and Engagement clouds. Oracle is also using AI to power “next-best action” recommendations to sales teams that are based on particulars such as a customer’s shipments status or call history.
Finally, sales representatives now have access to a virtual sales assistant, which basically a chatbot that can be used to help engage with greater numbers of customers.
Image: Oracle/Facebook
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