SAN JOSE, Calif., April 26, 2023 – Tredence, a data science and AI solutions company, today announced that its Customer Cosmos solution was named “Data Visualization Solution of the Year” in the fourth annual Data Breakthrough Awards program conducted by Data Breakthrough, a market intelligence organization that covers the global data technology market.
Customer Cosmos by Tredence is an artificial intelligence-enabled customer intelligence solution that unlocks the value of vast, untapped and fragmented customer data to deliver deeper insights into the drivers of customer behavior.
Gartner’s research says, 63 percent of marketing leaders continue to struggle with delivering personalized experiences to their customers. And a study by McKinsey & Company shows 71 percent of consumers expect companies to deliver personalized interactions, while 76 percent get frustrated when this doesn’t happen.
Tredence’s data and AI solutions help companies unlock the power of data to transform businesses. The Customer Cosmos solution aggregates customer data across all first party omnichannel sources and enriches it with comprehensive third-party data. Retailers and CPGs can also further leverage Tredence’s data partnerships and ML models and algorithms to accelerate the multi-year personalization journey. With all data in one place, multiple teams beyond marketing can create custom apps to personalize customer experiences.
Client Success Story: The Global Customer Insight team for one of the world’s largest retailers, serving over 100 million households, wanted to create a unified customer data platform to provide complete visibility across their customers’ omnichannel touchpoints.
Leveraging Customer Cosmos, Tredence helped the client build a customer data platform that integrated more than 70 1st and 3rd party data sources with real-time updates and automated data pipelines to process over 250 TB of data every week. Leveraging the CDP platform Tredence helped the retailer better engage their customers with personalized experiences across omnichannel touchpoints.
Impacts:
- 6x increase in supplier data monetization
- 10 pt. improvement in Net Promoter Score
- 5x improvement in query processing time
- +25M at-risk households reengaged
- $230 increase in customer lifetime value (CLTV)
“Our experience has shown that businesses have difficulty unlocking value from off-the-shelf personalization solutions. We saw a gap waiting to be filled in activating data and operationalizing insights for real, tangible business impact,” said Sumit Mehra, Co-Founder and Chief Technology Officer, Tredence. “Customer innovation is second nature at Tredence, and we’re focused on bridging that gap between insights delivery and value realization. With Customer Cosmos, enterprises can gain a deeper understanding of customers instantly, identify and reach untapped marketing segments, drive omnichannel customer experience and equip executives to build data-driven, customer-centric organizations.
The annual Data Breakthrough Awards is the premier awards program recognizing data technology innovators, leaders and visionaries from around the world in a range of categories, including Data Analytics, Big Data, Business Intelligence, Data Storage and many more. The 4th annual Data Breakthrough Award program attracted more than 2,000 nominations from across the globe.
“Despite significant advancements in analytics, B2C businesses struggle to enrich customer data and extract deeper insights to drive personalization. The problem is not the lack of customer data but insights, and AI can empower brands with real-time customer engagement to increase revenue and improve loyalty,” said James Johnson, Managing Director, Data Breakthrough. “While a traditional ecosystem takes several years for this execution, Customer Cosmos can set up the customer 360-degree view and gather customer intelligence within weeks Congratulations to Tredence on winning the ‘Data Visualization Solution of the Year’ award!”
