Ovum, an independent analyst and consultancy firm, recently released its Ovum Decision Matrix: Selecting a Customer Engagement Platform, 2018–19 report.
In the report, Ovum details its research and findings into the top Customer Engagement Platforms, as well as the business drivers that are leading CEOs to take an active interest in the benefits of positive customer experiences to their companies’ growth and bottom lines.
Ovum defines a Customer Engagement Platform as “a platform that enables an enterprise to coordinate and intelligently orchestrate all customer engagement activities across its value chain in a way that delivers a symbiotic set of outcomes: superior experience for customers and profitable growth, improved operational efficiency, and lower costs for businesses.”
The report notes that while traditional CRMs are failing to deliver on a critical component of customer experience – a unified, unsiloed approach – a Customer Engagement Platform (CEP) “addresses the challenge of connecting and enabling systematic customer engagement across the enterprise and in any channel customers choose to use.”
In Ovum’s evaluation of 10 CEPs, it notes that machine learning capabilities are present in each of the top CEP solutions, including Oracle‘s.
“Most [CEPs] use ML [machine learning] and predictive analytics to augment the employee by, for example, recommending next best actions and the right moment to execute them or providing guidance on priorities,” the report states.
While many vendors report that their machine learning capabilities are limited to specific functional areas, according to Ovum, more sophisticated and connected systems that support the entire customer journey are raising the bar.
Yet, as with much of technology, machine learning is only good as the quality of data that goes into it, and the customer-focused strategies that drive it.
“For a CEP to be effective, everyone in the enterprise must commit to the customer,” the report states.
To view the full report and vendor evaulations, read “Ovum Decision Matrix: Selecting a Customer Engagement Platform, 2018–19“.