If anything current challenges have made businesses realize, it is the importance of a responsive business strategy and the ability to pivot to maintain business continuity. Yes, we have heard this before, but never quite realized the importance till recently, with no choice but to adapt.
Responsive customer-centric businesses strive to understand their customers, adapt quickly to the changing customer needs, regulations, or macroeconomic business conditions. Their success is primarily determined by how effectively they harness the power of data to serve, protect, and retain customers. Their secret to responsiveness is the investment in agile technology combined with a strategic approach to data management. For more about Responsive Data Management, watch this 30-minute webinar.
Reltio Connected Customer 360 release 2020.2 takes another step towards empowering our customers to be more responsive and productive with a rich set of features driving adaptability, speed, and efficiency
Agility to respond to business changes
In this release, we have added the ability to uncover relationships using matching, new visualization for hierarchy management, enhancements in search, interaction search and many more compelling features. The 2020.2 release is packed with many productivity features. Let’s take a look at some of these enhancements.
You can now create rules to uncover “relationships” helping you to connect people, products, organizations, or any data entity. You can use this for a variety of solutions, such as identifying members of households and creating relationships between them, to save marketing dollars by sending one offer to the family instead of individual offers to each member of the family. Similarly, understanding your supplier relationships and alternate suppliers can help mitigate risk or help negotiate better rates to increase your profit margins.
Ease of Hierarchy Management
Organizational structures can change quickly in this environment. You can reflect those changes in your customer profiles in minutes versus days or weeks to ensure your users are making accurate business decisions using the most up to date data. Take an example of a printer manufacturer who sells to a multi-structured organization that has recently acquired a new line of business. The account manager may need to add these new organizations to the hierarchy so that new companies can be included as prospects and in product planning. Similarly, when an employee gets promoted, you have to update roles and relationships for every hierarchy of which the employee is a member. Ease of hierarchy management makes such operations accurate and efficient.
Find relevant interactions
Business users can now find ‘point in time’ interaction information. There is a spectrum of interactions between you and your customers. Every touchpoint across this spectrum leaves an impression on our customers. Let’s take an example of the contact center, one poor conversation can instigate the downward spiral of bad customer experience, and then you are in recovery mode. The ‘point in time’ information equips you with relevant insights to help you effectively communicate and align with your customer expectations based on their past interactions without them repeating it every time they call the contact center. Now is it easy to find these critical touchpoints for any customer profile and have a meaningful engagement with the customer.
Enhancing productivity and operational efficiency
New features, including data validation and Match IQ, boost the productivity of data stewards by providing more flexibility. The powerful Inbox enhancements help process data change requests more efficiently while email notifications help data stewards be responsive.
With the self-service tools introduced in this release, administrators and data stewards can efficiently manage match rules, streaming queues, and data loads. The enhanced search and reporting functionalities simplify the guided search experience and improve data management operations, further contributing to higher operational efficiency.
Data stewards spend significant time to decide if a suspected match pair is a candidate for merge or ‘not a match.’ ML-based Match IQ recommendation can help in reducing this time, as the ML models are trained with active learning based on the resolutions of suspected matched pairs. These models can then be applied to future match pairs improving data steward productivity.
Out-of-the-box reports provide real-time consolidated information regarding Entity, Relations, Match-Merges, and Workflow Activities. These insights help improve data steward productivity by providing an easy way to monitor and enhance the quality of data and empower business users to make informed decisions.
Responsive Data Strategy is key to business continuity
Match IQ, relationship discovery, quick hierarchy changes, self-service tools, enhanced search and reporting, and improved Inbox capabilities are some of the powerful features offered in this release. At Reltio, we continue to innovate and enrich capabilities of Reltio Connected Customer 360, so that our customers can be responsive to their business needs and continue to grow and thrive in any market condition.
Answer 10 questions to check the Responsive Data Strategy readiness of your organization.
To see how Reltio powers Responsive Data Platform, join us for our 30-minute on-demand webinar “Responsive Data in Action”