Reltio: Organizing Data for Self-learning Enterprises
This article was originally published at https://www.insightssuccess.com/reltio-organizing-data-for-self-learning-enterprises/ by Insights Success Magazine
In today’s digital economy, the most successful companies know how to harness their data and learn from it. Be it Google, Netflix, or Amazon, successful companies in the digital economy are leading the industry with new revenue models and better, personalized customer experience. Reltio, a privately held company headquartered in Redwood Shores, California with the mission to help enterprise users ‘Be Right Faster’ calls them self-learning enterprises.
What sets these enterprises apart from others is how they have adopted the use of data to improve operations and business outcomes. A self-learning enterprise builds a holistic data strategy and is data-driven in all aspects of their business. Reltio Cloud, a data organization solution created by Reltio, is enabling enterprises to leverage data to its fullest potential and start a self-learning journey.
Reltio Cloud, developed natively in the cloud, organizes enterprise data for continuous self-learning. With Reltio, businesses can now manage data like leading cloud companies, leveraging continuous data organization and recommended actions to measure and improve their operations. Reltio organizes data from all sources and formats, creating a unified data set with unlimited personalized views for users across sales, marketing, and compliance. With machine learning, Reltio then recommends actions, and finally measures and correlates the impact on the business.
Reltio Cloud helps enterprises to achieve the following:
Make data the heart of every decision
Self-learning enterprises are data-driven. Reltio enables enterprises to leverage data as a competitive advantage and use it for better customer experience as well as for regulatory compliance such as GDPR. Reltio helps enterprises design the right product for the right customer and offer it at the right time via the communication channel of their choice.
Organize data of all types at unlimited scale
Reltio Cloud helps collect and organize data from all internal, external, social and third-party sources. Companies can correlate various types of data, connect transactions, omnichannel interactions, master data, and reference data to create a complete picture of customers, products, suppliers or employees that help them make the right decisions, faster. It’s not just about collecting large volumes of data in data lakes; it’s about organizing it in a form that can be used for decision management.
Unify data sets to deliver personalized views
Reltio helps create a consistent single-source-of-truth of data across applications, systems, and functional groups. Each user of data needs the information in the context of their business role and objective. Reltio delivers data-driven applications personalized and contextual to sales, marketing, customer service, field service, compliance, and call centers groups with data provided from a single source of truth.
Infuse analytics into every business process
Self-learning enterprises bring together all data they need for analytics and machine learning in one place, accessible in real-time. Reliable data from interactions, transactions, master profiles, third-party subscriptions, public and social media sources is consolidated for a more in-depth analytics. Reltio Cloud enables that seamlessly. Analytics running on a reliable data foundation ensures organizations can make better and informed decisions.
Continuously learn about customers, products and their relationships
Self-learning enterprises correlate and measure insights and recommendations with actual outcomes through a closed-loop cycle and keep improving. Bringing together analytics and operational execution helps with continuous measurement of results compared with projections, and identifying areas of improvement. Self-learning enterprises continually learn about customers, suppliers, and products. With improved knowledge about customer behaviors and preferences, they offer increasingly relevant products and services.
This self-learning cycle empowers companies to put data at the heart of every decision, build analytics into operational business processes and continuously learn about customers, products and their relationships. Leading Global 2000 and companies of all sizes and industries rely on Reltio to become Self-Learning Enterprises.
A Reformatory Leader
Reltio was founded by Manish Sood, an entrepreneur with a passion for innovation. He previously co-authored the patent that revolutionized Master Data Management (MDM) through a global business identifier and served as the primary architect of some of the most widely used data management solutions in use by Fortune 100 companies today.
Manish was previously part of the team that introduced a leading Master Data Management platform in the market. But despite that success and the maturation of a $1B+ software and services market for MDM, several factors aligned to form an opportunity to transform the industry.
First, from a technological evolution perspective, the commercial availability of big data technologies and elastic cloud computing showed how traditional heavyweight, on-premise, ERP-class data management was inefficient and costly. Second, the time-to-value did not align with the expectations of frontline business users, who in their frustration were pouring billions of dollars of their own into self-service ad-hoc business intelligence or analytics tools.
With this perspective and a passion for change, Manish founded Reltio in 2011. And within a few years of the formal product launch, Reltio became a leader in the data management space. Top technology industry analyst form, Forrester Research, named Reltio a leader and “most visionary” in its Forrester Wave on Master Data Management.
A Global Recognition
Today, the Reltio platform is aggressively taking market share from legacy incumbents. Reltio’s innovative vision has delivered a Self-Learning Data Platform to enterprises, helping them solve their most complex business problems and enabling digital transformation across industries. Reltio counts as customers 7 of the top 10 pharmaceutical companies in the world, 2 of the top 10 global technology companies, 2 of the top 10 global cosmetics companies and one of the largest casualty and property insurers in the U.S.
The industry has taken notice of Reltio’s innovations and fast company growth. The company ranked in the Inc. 5000 list of America’s fastest-growing private companies two years in a row. Recently, it was also named a leader for the second time by Forrester Research in its Machine Learning Data Catalogs Wave. Technology channel news leader, CRN, named Reltio a Top 20 Coolest Cloud Software Vendor of 2018.
For the last three years, top data news publication, Database Trends & Applications has featured Reltio in its DBTA 100, a list of the companies that matter most in data. Additionally, Reltio has been ranked #1 in Fortune’s Best Small & Medium Companies to Work For, and ranked among the publication’s Top 30 Best Workplaces in Technology. Forbes has also recognized the company for its excellent workplace culture, naming Reltio one of the Best Big Data Companies to Work For in 2018, as well as one of the Best Cloud Companies to Work For.