At SAP Teched 2013, we will showcase a new big data innovation for marketers powered by SAP HANA, let me explain the context of this innovation.
We all know that the key value proposition of big data is to really make contextual sense data for actionable insights. Especially CMOs /marketers really would like to leverage big data, mobile and social media extensively to optimize on spends that get back maximum value. Unlike in the past where marketers spent bulk of their budgets for advertising, with maturing of digital marketing, Marketers are looking for better avenues to get best returns of their shrinking budgets. Investing in technology is an option. Let’s explore few aspects around this.
Context matters for consumer engagement
Here is an interesting post by RR Wang where he highlights how context is key when you approach consumers with information. Real time is just noise and could be garbage without context. What is needed is information /insights in the right time. And offcourse if its delivered in real time with speed, in the right channel that the consumer usually prefers, it can wow the consumer. Every marketer would love to leverage technologies that can help better use of their spends that provides contextual information that can be shared with consumers
Get closer to end consumers without retailers – Consumer Journey
Many companies that sell product and services, especially the high value ones, find it very difficult to get closer to their consumers as they have retailers in-between. Let’s explore some use cases: Consumer Electronics giant would like to get closer and understand end consumers in order for them to recommend right products and offers in right time with the right channel, leading path to purchase. Airlines would like to understand their guests better, about their interests and their emotions to provide right offers and service, especially if its provided by cabin service executive referring this information from her tablet device. Customer retention is paramount for airlines. Banks are constantly seeking better information about what consumers are looking for across the various channels that consumers interact – branch, ATMs, web, mobile etc in order for them to assess what would be the best upsell options. In all of these getting closer to consumers’ needs is growing exponential for potential revenue opportunities and customer service excellence. And even better when consumers can be tapped into web and mobile channels which are more profitable.
Look~a~Like plugs social interests into enterprise data
Marketers spends tons of money on social media these days and gain access to huge amount of data coming from these social media. They are in constant endeavor to see how this social media data can be better put to use in context and how will this help them get closer to consumers.
University of Cambridge published this great article on how personality traits and attributes can be reasonably predicated from digital records of human beings – People are ready to share their digital records for better offers or service. Marketers would love to grab this opportunity that can combine social interests with enterprise data to discover segment that can be targeted for specific products or offers.
Check out our new innovation demo powered by SAP HANA @ SAPTeched Vegas
Keeping the above needs of marketers in mind, we have built a reference concept application on SAP HANA that includes a Look a Like algorithm that combines social interests with enterprise data,to discover a right segment for marketers to leverage for right contextual recommendation. Example could be to determine a pattern match between people who have “travel related” interests to have more likely probability to buy “a camera with photosharing features”. This reference concept application also allows marketers to get closer to consumers across the various channels by discovering their consumer journey and providing the right recommendation service.
The look a like algorithm and the discover segment logic for this concept application is run in 2-3 seconds over billions of consumer journey records. So essentially it provides contextual information at right time.
Here is the screenshot of what we have built, more at SAP HANA demo area @ SAP Teched, Vegas.
Provide your comments after checking our innovation for Marketers at SAPTeched or comment here to discuss more on this…