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Oracle Real-Time Decisions Turning Customer Interactions into Sales and Service Opportunities

Oracle Real-Time Decisions Turning Customer Interactions into Sales and Service Opportunities. Peter Winner Senior Director, Financial Services.

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Oracle Real-Time Decisions Turning Customer Interactions into Sales and Service Opportunities

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  1. Oracle Real-Time Decisions Turning Customer Interactions into Sales and Service Opportunities Peter WinnerSenior Director, Financial Services

  2. The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract.It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.

  3. Program Agenda • Optimizing the value of relationships • Value of Oracle’s Real Time Decision Solution • Case Studies • Summary

  4. Henry D. Morris IDC “Organizations need to get the maximum value out of every customer relationship by reaching customers in a way the leverages knowledge of individual styles and preferences”

  5. Optimize the Value of Each Relationship • Issue: • Inability to tailor responses within customer interactions in response to events real-time • Development of such knowledge involves: • Monitoring the results of each interaction • Analyze historical data along with web interactions • Learning from the response • Apply rapidly incorporate this feedback into the next best offer

  6. Decision Management as an Enterprise Practice Social Media Branch Call Center BPM CRM Get Advice Mobile Web Cross-Channel Closed-Loop Decision Engine • Today • New Generation Channels • Cross-Channel Interactions • Inbound Centric Model • Yesterday • Traditional Channels • Multi-Channel Experiences • Outbound Centric Model Email BI

  7. The Evolution of Decision Management • From Point to Flow Optimization Interdependent cross-channel logic driving optimized customer experiences Independent or coordinated marketing / merchandizing programs Fully dynamic and personalized cross-channel user interactions offer / product / content / user flows Dedicated slot for web offers or product recommendations Web Web Mobile Call Center Branch Dedicated call wrap-up slot for contact center offers Social Media Yesterday Today & Tomorrow

  8. Oracle Foundation for Decision Management Powering the Intelligent Enterprise • Decision Management • Collaborative environment to define decision management strategies • Business user controls over decision optimization logic • Cross-channel customer experience management framework Decision Engine • Test & Control Framework • Combined Rules, Predictive Models and Multi-Goal Optimization • Highly scalable Decision Services • Self Learning and Adaptive for Testing Learning Engine • Automated Learning from Each Interaction • Real Time Analytics • Integrated with Decisioning for Optimized Treatments

  9. RTD Enables Adaptive Business Processes Decisions as a Service • Process learns and continuously optimizes in real-time or batch based on closed loop information • Analytical decisions for eachinteraction Business Process Execution INFORMANT Feedback • RTD Recommends with rules & predictivemodels • RTD Learns from each interaction • Process Optimization across business process goals ADVISOR Recommendations INFORMANT Process data Real-Time Closed Loop Self-Learning • Process leverages commondatamodel of real-time and historical data • Decisions based on facts, context, analytic insights CRM data SUPPLIERS OLTP Grid BI Enterprise Information Model

  10. Real Time Decisions • Potential Starting Points Service Processes • Service Treatments Optimization • Customer Retention Programs • Risk and Fraud Analysis Enhancement • Collections Process Optimization Operational Processes • Maintenance Recommendations • Operational Process Optimization Marketing Processes • Interactive Marketing Personalization • Customer Experience Optimization • Next Best Action • A/B and Multivariate Testing • Content Personalization Sales Processes • Customer Acquisition Targeting • Cross Sell/Up Sell / Guided Selling • eMail Targeting and Personalization Web Social Media Call Center Branch Social Media Mobile One Single Business Intelligence Platform for Multiple Decision Management Use Cases

  11. Total Economic ImpactTM of Oracle Real-Time Decisions Study Conducted by Forrester Consulting, Commissioned by Oracle • Financial services provider with more than 20,000 employees • The financial results (risk-adjusted / three years) • ROI: 986% • Payback period: 3 months • Net Present value: $99,711,545 • Total Benefits: $137,927,504 • Results Source: “Total Economic Impact of Oracle Real-Time Decisions, a commissioned study conducted by Forrester Consulting on behalf of Oracle, July 2011”

  12. The Benefits of Optimized Real Time Decisions • Improved closure rate revenue: $52,406,800 • Incremental sale price revenue: $41,114,400 • Post cart abandonment follow-up campaign revenue: $56,400,000 • Greater customer retention and lifetime value • Better business intelligence • Improved customer experiences • Benefits

  13. RTD Improving Cross Channel Experience • Customer Experience personalization • Cross Channel proactive offer generation • Service optimization • Global Credit Card Provider

  14. Current State • Integrated with all key pages across 9 markets and growing … • Integration with new channels like mobile, tablets and growing .. • Facts • 25 million extensions / day • 80 M card profiles stored • 15 M customer profiles • 17 data feeds and growing … • Effective use of Personalization results in improvement to one or more of the following metrics: • Click Rate • Click Rate Lift • Conversion Rate • Conversion Rate Lift • Benefit Per Impression Business Opportunity

  15. RTD Improving Cross Channel Experience • Increase acceptance rates and account value • Opportunities to improve overall customer experience on the Web channel • Identify opportunities for selling premium accounts • Automate “analytical improvement” process flows • Goals

  16. Oracle RTD for Customer Optimization Approach Summary Improving Cross Channel Customer Experience Recommendations for Mobile and Facebook

  17. RTD Performance Statistics Generating Revenue

  18. RTD Improving Cross Channel Experience • Improve consumer’s experience • Increase conversion rates and account value • Automate “analytical process improvement” and prove uplift business value over control group within weeks • Goals

  19. RTD Improving Cross Channel Experience • Event Processing for Filtering & Grouping real-time POS & ATMs transactions • Fraud Detection • Debt recovery • Next Phase

  20. Oracle Real-Time DecisionsTurning Customer Interactions into Sales and Service Opportunities • Cross Channel real-time proactive offers and treatment • Optimizing personalized experiences across channels • Delivering Value Based Offers • Finding lost revenue opportunities • Process optimization

  21. Customer Focus and Optimizing Business Benefit Sales Optimization Cross Channel Service Real Time Decisions RTD Treatment Execution Analytics

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