Identify cohorts of similar customers with real-time data sources
Companies can achieve 3-5% higher sales with customer segmentation
With terabytes of data – demographic, psychographic, behavioral, and more, organizations have a vast trove of information about their customers and end users, but lack a single customer view. Data silos make it difficult to access and analyze data to segment customers and provide a tailored customer experience. Deriving timely insights from data is critical to building meaningful customer relationships and maximizing customer lifetime value.
Customer segmentation takes time and resources. Without purpose-built tooling there are disconnects between business strategy and key initiatives like:
- Market sizing and new product marketing
- Targeting offers and recommendations
- Building propensity and affinity models
A Better Way:
Instead of a ‘one-size-fits-all’ approach, successful segmentation dissects your customer data into targeted groups sharing the same properties, behavioral characteristics, or other relevant factors, empowering you to build dynamic content and personalization tactics for timely and relevant targeting.
To identify customer segments, the broad array of source data about users must be combined into complete views of each customer, including demographic, geographic, behavioral, lifestyle, psychographic, preference, loyalty, and value attributes. Even though 80% of customers expect a personalized experience, only 6% of companies can actually consolidate their data into a unified customer profile to deliver on that expectation.
The Database for Real-Time Decisions
FeatureBase is designed to deliver secure, fast, continuous access to all your data in a machine-native format. The first and most crucial step in leveraging big data for improved customer experience and personalization is ensuring all of the data is ready and accessible.
Rather than the conventional approach of moving, copying, and pre-aggregating data, FeatureBase extracts features from each of the underlying data sources and stores them in a centralized access point, making data immediately accessible, actionable, and reusable. FeatureBase maintains up-to-the-millisecond data updates with no time-consuming, costly pre-aggregation necessary.
With customer segmentation powered by FeatureBase, you’re able to use budgets more effectively, gain a competitive edge over rival companies, and most importantly, demonstrate how well you know your customers’ needs and wants.
The Benefits of FeatureBase:
Create Cohorts at the Speed You Need
Eliminate the need to pre-aggregate data, allowing your teams to slice and dice massive volumes of data with real-time results.
Cut Weeks, Days, or Minutes Off Existing Segmentation Workflows
Analyze data from all of your sources with no need to pre-aggregate or create rollup tables, all in real time.
Collaborate Across Your Entire Organization
With a single access point to decision-ready data, Marketing, Product, IT, and more each get the data they need, in real-time.
Real-Time Customer Segmentation with FeatureBase:
A multinational manufacturer needed an analytical database that would provide real-time segmentation of data. Their CRM application has 200+ million contact records, and is the heart of their marketing.
With Molecula’s FeatureBase:
Request a Consultation—
Contact us today to learn more about how Molecula’s FeatureBase can transform your business through eliminating pre-aggregation and unlocking real-time value.