Describing Modern Data Management to my Mom
For Mother’s Day this year, I am inviting the women (and men) in my life to a belated celebratory dinner, as soon as I fly back to the Bay Area later this month. As someone whom I turn to for practical advice from time to time, my Mom rarely asks me to explain things to her.
However, when I called her today to wish her a happy Mother’s Day, I not only thanked her for her unwavering support, but also described to her what the company I work for does, and why Modern Data Management matters.
Our conversation went something like this:
So Mom, let me tell you a little about what I do. You know how you interact with companies that use data everyday? Our cell phone provider, the search engine you use to find recipes and the cable company you call every time your modem goes down. These companies all collect information about you and your family members to help build a deeper relationship with their customers.
There is a reason for this. Different departments within the telephone company store your information, like your name and billing address in different places. They will also keep records of the times you called or sent them an email. Separate departments, like order processing and customer support may even store your information in different systems that do not talk to one another.
For instance, should you call the customer support number on your bill, that department will collect the information that you give them in a different system than if you were to log into the online portal to manage your account.
Oftentimes, different systems have different information about you and your family members from different time periods. This is a problem because every department in the telephone company may have a piece of information about you, but none of them will have the complete picture.
Do you remember the last time you ordered a cell phone online, and then called to change the color? It took the telephone company a while to locate your order. This problem will only get worse as they acquire more companies, and add more systems and ways of communicating with you (email, phone, website, Facebook, Twitter, direct mail).
This is because your information will be spread into even more systems. In order to provide consistent customer service, all communication channels and departments, like sales, marketing and customer support need access to the same, consolidated customer information.
Mom, this brings me to my job. I work for Reltio. Reltio provides Modern Data Management to telecommunications providers and retailers, which helps them consolidate their customers’ information.
Our technology provides a way to connect to all systems from all departments, and create consolidated profiles with reliable customer information. This reliable information is then made available to all business and analytics applications used by all departments. Reliable information ensures consistent customer experience across channels and departments, and this builds trust and loyalty with customers.
So, the next time you call them, you won’t have to repeat what you ordered or what type of data plan you have, depending on whether you use an iPhone or an Android device. They will have that information readily available.
We also help companies understand and manage relationships. Like Facebook, where people can connect to one another and follow their favorite stores and restaurants, we help companies understand how people are related to each other, and to other companies and locations through a graph. This helps companies, like our cell phone provider understand our household needs.
Another reason why Reltio’s platform is modern, is because it uses your profile information to analyze whether your information is correct and complete. We use machine learning and predictive analytics for that.
Machine learning make programs “smarter,” by allowing them to automatically learn from the data you provide. Predictive analytics takes information from existing data to find patterns and predict future outcomes and trends. Machine learning and predictive analytics form a recommendation system that recommends satellite TV service or a new phone accessory after learning about your tendencies and desires.
These intelligent recommendations help people in marketing and sales determine which promotion to send you, on which channel (email, phone, USPS), at which time. Wow, look at the time! I know you have lunch plans, so let’s talk more when I see you later this month, ok?
At Reltio, our core mission goes beyond MDM. We are focused on simplifying all aspects of data management for IT, while delivering high value data-driven applications into the hands of frontline business users. Reltio Cloud achieves this by combining MDM with multichannel interaction data, predictive analytics and machine learning, all within a unified Modern Data Management platform that operates at Internet scale leveraging big data.