- $15.4m gross revenue generated from deployment of Celebrus CDP
- Bank reports Celebrus enables enhanced engagement with customers despite reduced high street presence
- Analyst-conducted Market Overview survey also reveals that AI is starting to play a critical role in the growth plans for leading organisations
o Organisations anticipate a range of revenue and customer experience related benefits as a result of next-best-actions driven by AI
o However, over 70% of organisations admit to difficulties associated with AI and decisioning tasks
A Total Economic Impact™ study conducted by Forrester Consulting and commissioned by Celebrus, the Enterprise Customer Data Platform (CDP) from D4t4 Solutions, in partnership with Dell EMC, the provider of industry-leading converged infrastructure, servers, storage and cybersecurity technologies, quantifies the benefits gained by one of Celebrus’ many banking clients. The study determines that the Total Economic Impact of the Celebrus CDP amounts to more than $5.4m profit over a 5-year period and delivers rapid returns for an enterprise solution of this scale.
Celebrus underpins bank’s customer experience initiatives and accelerates AI
A multi-national European bank has deployed the Celebrus CDP to achieve enhanced visibility of customer interactions across their digital channels and to augment the effectiveness of their Artificial Intelligence (AI) decisioning solution. The bank’s stated aim, to optimise promotions by personalising page content for each individual visitor in real-time and according to the behavioural signals displayed by customers, is transforming their engagement and improving the customer experience significantly.
Market Overview casts light on practical uses of AI for marketing
As part of the study, Forrester Consulting also surveyed senior marketing professionals globally to gain insight into the challenges they face relating to the use of AI to enhance customer marketing. This survey revealed that:
- Organisations are prioritising CX projects: 82% of organisations stated their top marketing goal was to improve their customers’ experience.
- Marketers aim to increase their use of customer data: 77% of respondents aimed to drive customer centricity and to increase their use of customer data for analytics.
- Marketers expect AI to enhance customer service or customer experience (78%), boost revenue (39%) and customer acquisition (35%) and increase customer retention (37%): interestingly though, only 31% thought that improving AI next-best-actions would result in more relevant product suggestions or increased customer lifetime value.
- Organisations struggle to capture and activate customer data: more than 80% of organisations report difficulties with AI and Machine Learning (ML) activities, while 79% experience difficulties with customer data capture and 71% with the personalisation of marketing campaigns.
- However, the greatest challenges with AI and ML are not due to budget constraints: 61% cited a lack of internal skills and 59% lacked the technology to leverage AI. Only 50% lacked the budget.
D4t4 Solutions believes these findings suggest that the promise of AI is not lost on surveyed organisations; indeed, the focus of attention has now turned to the practical means by which forays into this hotly-debated area of technology can be operationalised and, more importantly, monetised.
Matthew Tod, Chief Data Officer at D4t4 Solutions, the owner and developer of the Celebrus CDP, commented:
“This research, in our opinion, indicates a pronounced shift among leading enterprises, particularly retail banks, towards becoming data-driven businesses capable of responding to individual customer needs at scale. Forrester Consulting has investigated our client’s use of Celebrus in combination with an enterprise-class machine learning solution which delivers next-best-actions for 1-to-1 personalisation in real-time. The reason our banking client experienced such a healthy return on investment is due to the quality of customer interaction data that Celebrus captures from digital channels, and the speed with which Celebrus feeds these customer behaviour signals into ML decisioning systems.”
Peter Kear, CEO of D4t4 Solutions, added:
“As AI solution innovation, and indeed adoption, continue to gather pace, enterprises require a future-ready, AI-optimised infrastructure. The foundations of successful customer-centric AI projects start with the ability to capture the granular data on which these applications thrive – coupled with that though is our confidence in a 15-year strong partnership with Dell EMC to build AI initiatives on their industry-leading scalable compute and highly-performant data storage. AI and ML are among the most demanding workloads around, but we believe this study highlights that enterprises investing in this combination of the best data and platforms, will reap the rewards of increased customer engagement and enhanced profitability.”
Celebrus will be hosting a free to attend webinar featuring Forrester Consulting on 27th February 2019 at 4pm GMT to discuss the findings of this research paper.
For webinar registrations go to http://bit.ly/Forrester-TEI-Celebrus-webinar where the Forrester Consulting study, “The Total Economic Impact™ of Celebrus,” is also available to download.
Celebrus (celebrus.d4t4solutions.com) is the Customer Data Platform from D4t4 Solutions plc. Celebrus captures the market’s most complete picture of customer behaviour and experience from across digital channels, creating events and profiles in real-time for 1-to-1 personalisation and streaming analytics. Celebrus is quick and easy to deploy and connects to industry-standard data applications for customer insight and engagement. Celebrus also gives clients complete control by enabling best-in-class privacy compliance and flexible options for hosting data on-premise or securely in the cloud.
Celebrus is used by global businesses in banking, insurance, retail, travel, automotive and telco industries, collaborating with leading industry partners to drive rapid transformation in customer engagement programmes.
D4t4 Solutions (www.d4t4solutions.com) is ALL ABOUT THE DATA, providing comprehensive products and services that drive value from clients’ data assets. D4t4 Solutions was established in 1985 and is listed on the AIM market of the London Stock Exchange (stock code: D4T4).