360 Degree Customer View
Excel at Customer Experience with Hazelcast IMDG
Businesses know that is more profitable to grow revenue from existing customers. Acquiring new customers is expensive (five to seven times the cost of retaining an existing one), and repeat customers spend an average of 67% more than a new one. In fact, studies by Bain & Company, along with Earl Sasser of the Harvard Business School, have shown that even a 5 percent increase in customer retention can lead to an increase in profits of between 25 and 95 percent.
However growing revenue from existing customers can be very difficult when the data of all their interactions with your business are locked in separate silos–shipping and receiving systems, online order systems, loyalty program systems, and so and on. Siloed systems are largely a result of architecture where each functional system has its own datastore.
Leading businesses have invested in modern in-memory computing infrastructure to integrate all of their customer data in a single location for real-time access of users and applications. Modern in-memory technology offers economies of scale that justify integrating all of your customer data in one location and accelerating that data to real-time for optimized customer service. Benefits are quicker customer response, so that customer representatives can assist customers in solving their inquiries fast, resulting in higher customer satisfaction and more efficient use of customer representatives
Hazelcast IMDG® provides a unique set of features that are perfectly suited to build an excellent 360° customer view from the data of an increasing number of channels, applications, and systems. You need to cache large amounts of data, get fast response times for queries, and improve complex event processing to create a 360° view of the customer. That’s why major enterprises are turning to in-memory data grids – and Hazelcast IMDG in particular – to understand their customers in real-time which translates to improved customer satisfaction, more targeted engagement, and long term customer loyalty.
Why Most Data Stores Fall Short…
Why Hazelcast IMDG is Ideal…
|Due to differences in schemata, relational databases often have difficulties exchanging data in real-time or even batch.||Hazelcast IMDG is a schema-less data store and can adapt to the changing data needs of your organization, and time to production is significantly accelerated.|
|RDBMS solutions have a high cost of initial development in terms of software and hardware, as well as with ongoing maintenance.||Hazelcast IMDG can scale with much less effort than NoSQL and RDBMS, reducing operational involvement and associated hardware costs.|
|For real-time analytics on large volumes of data, NoSQL and RDBMS solutions suffer from latency issues, as both may store only a subset of data.||As a fully in-memory data store, Hazelcast IMDG can transform and ingest data in microseconds, providing throughput and query.|
|Database-to-grid architectures require movement of data back and forth creating more points of failure, more hardware, and dramatically increasing processing time of jobs.||Hazelcast IMDG is both a distributed computation system and a data store in the same footprint — eliminating network transit latency penalties from moving data back and forth.|
|Traditional relational databases or legacy mainframe systems are inadequate solutions for today’s digital world that requires agility and innovation.||Hazelcast IMDG is the leading and fastest open source in-memory data grid that provides an excellent operational experience for systems requiring maximum uptime. Hazelcast IMDG can serve as the backbone of a Microservices architecture. It is lightweight, easy to use, and simple to deploy. One of Hazelcast IMDG’s strengths for Microservices is its support for multiple network discovery mechanisms. In addition, Hazelcast® has clients for several programming languages (currently Java, C#/.Net, C/C++, Python, Node.js and Scala) and provides out-of the-box support for a wide variety of serialization mechanisms and the ability to plug in your own.|
Customer Success Story
Comcast Corporation is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast is deploying Hazelcast IMDG into their customer management infrastructure, making all user data (rentals, purchases, etc) available to all users on their TV systems. Comcast Cable, which provides video, Internet and voice services to residential customers under the XFINITY brand, is using Hazelcast IMDG Enterprise to improve the customer experience by reducing latency for on-demand content stored on set top boxes (the physical device that sits next to the TV and controls / delivers the user’s content).
Products in this Use Case: