Oracle has added 15 baseline artificial intelligence (AI) models to Oracle Unity, a Customer Data Platform (CDP). Part of Oracle Fusion Cloud Customer Experience (CX), Oracle Unity blends built-in artificial intelligence with customisable industry-specific data models. The solution is expected to deliver highly personalised industry-specific experiences. The latest AI models added to Oracle Unity support organisations in automotive, consumer packaged goods, communications, financial services, healthcare, high-tech, and utilities industries. The announcement was made at Oracle CloudWorld, Las Vegas.
Rob Tarkoff, VP and general manager, Oracle Customer Experience (CX) says, “Every industry has its own unique language and processes. To make sense of the various types of data and gain a true competitive advantage, customer data needs to be viewed through the appropriate industry lens.
“Unity has always been more than a traditional CDP. Today we are making it even more powerful. Enabling organisations to use the expertise Oracle has built from 40+ years of data modelling across the world’s largest industries.” The new AI models process data to provide insights that predict behaviours or provide next step recommendations.
AI models examples
Automotive: A car brand can use Unity’s Next Best Action and Next Best Offer models to recommend the most relevant actions and offers for every customer based on sales and transaction patterns.
Consumer Packaged Goods: An online cosmetics company can use Unity’s Customer Lifetime Value model to estimate a customer’s value over time. This is based on profile and transaction patterns. It could then create a campaign for a new, high-end skincare product. The campaign can target customers who bought less than two skincare products in the last six months and spent $200.
Communications: A telecommunications provider can automatically send a special promotion to customers thinking about switching to a different provider. This can be managed with Unity’s Churn Propensity model.
Financial Services: A community bank can use Unity’s Predictive Account and Contact Scoring models to estimate and score the likelihood of sale. This is based on profile and engagement patterns.
Healthcare: A healthcare company can use Unity’s Next Best Promotion model to fine-tune its pricing for a new sleep aid product. This is based on past purchases by individual customers. Oracle Unity has undergone HIPAA attestation for its development processes and practices.
High-Tech: A solar panel manufacturer can use the Fatigue Segmentation model to classify customers into different levels of fatigue. This is based on their profile and engagement levels. As a result, it enables them to adjust the volume of communications to their targeted accounts.
Utilities: An electric utility can use past interactions to determine whether email, SMS, Push, or Web is best to communicate on-peak and off-peak energy hours with specific customers using Unity’s Channel Recommender.
Breaking down data silos
Oracle Unity helps organisations turn customer data silos into actionable, real-time customer profiles. Enterprises can build and discover new audiences and apply built-in machine learning to personalise customer experiences across the entire lifecycle.
Enterprise Times: What this means for business.
It looks like Oracle is getting serious about customer experience (CX). At OracleWorld, Oracle opened its design system and platform, supporting the company’s applications to customers and partners. The company is often seen as the large monolithic entity, only really interested about infrastructure and cloud technology. It appeared to have left the customer experience space to other technology companies. Those mid-level organisations who specialised in developing the tools and apps to help businesses to better understand customers.
CX is the soft area in technology. Where organisations must map out the sum total of all customer interactions with your company across all channels. Enterprises need to care about it because it’s one of the most important factors in determining whether a customer become a repeat user. Or recommend the company or its products to others. However, Oracle has come back with a vengeance. Announcing 15 AI models enable business leaders to personalise customer interactions in a variety of industries. It will be really interesting to see if Oracle Unity truly breaks down the data silos – a holy grail for many businesses. To enable companies to convert data into real measurable actions. Look forward to reviewing the user cases.
