Oracle has announced the latest updates to its Customer Experience (CX) and Marketing Cloud suites by introducing new artificial intelligence based applications, data analytics solutions, and innovative customer loyalty capabilities.
Launched in the United States yesterday, the newest series of innovations to the Oracle Marketing Cloud suite includes an analytics application called Infinity and a segmentation tool for marketers called CX Audience. Oracle Loyalty is the newest addition to the Oracle CX Cloud suite.
According to the company, the launch of Infinity and CX Audience will enable marketers to build more valuable customer relationships. Data silos will be eliminated, they argue, and the new solutions will deliver real-time insights into rich behavioural data. Oracle said these two additions to the Marketing Cloud had been designed to overcome problems with traditional web analytics tools that do not provide real-time actionable insights and fail to capture all user interactions with a brand’s digital assets.
“Existing data analytics solutions are incredibly limited as they can’t scale or provide real-time insights on every single user. This prevents marketers from taking advantage of data to increase ROI or inform ideal customer experiences,” Shashi Seth, senior vice president, Oracle Marketing Cloud said.
He added the introduction of Oracle Infinity and Oracle CX Audience, would enable marketers to put “very rich and timely behavioural data in motion to help organisations deliver a customer experience that is highly relevant and in context.”
Oracle Infinity bills itself as a timely intelligence solution that allows users to unify behavioural data, distribute actionable insights to the broader business user community, and manage increasingly large and complex enterprise data sets. These latest enhancements, according to Gerry Murray, IDG research director, provide the “data-streaming infrastructure that works across touch points and closes the gap between reporting and action.”
The addition of CX Audience to Oracle Marketing Cloud gives marketers a non-technical audience segmentation tool that empowers them to operate with less involvement with IT and can perform extensive segmentation analysis in minutes rather than hours. Oracle said CX Audience has fully integrated analytics to enable marketers to analyse the aggregated past performance to predict future results and discover sub-segments that could provide additional opportunities.
Oracle also unveiled Loyalty Cloud yesterday as part of the new extended CX Cloud suite, which the tech firm said would help improve customer profitability with rapid loyalty program deployment and simplified usability. Additionally, Loyalty Cloud would help deliver unified omnichannel loyalty experiences with pre-built integrations and REST APIs that integrate loyalty program initiatives into broader customer experience strategies, Oracle said.
The latest innovations in Oracle CX Cloud Suite also included artificial intelligence based updates to help marketing, sales commerce, and customer service professionals. Oracle said its new AI marketing orchestration capabilities help increase open rates, conversions, and customer lifetime value by automatically identifying the best performing mix of send-time, channel, and messaging for individual customers.
The tech firm has also used AI to power new sales capabilities such as the new deal management tool. Oracle said this would allow sales teams to maximise margins through AI-powered pricing optimisation and increase the probability of winning the deal by providing easy-to-understand graphical instructions at the critical decision-making moments throughout the sales process.