How analytics can help businesses reach their target market
‘It’s not really rocket science,” avers Mario Domingo of his company’s technology.
The head of Customer Operations of DANATEQ, the organization behind LINK, a real-time self-learning cognitive analytics platform, says that the logic behind their technology has been in existence for many years. “We’ve just brought it down to a commercial level to help businesses, customers—both SMEs and large corporations—benefit from that technology,” he simply states.
LINK, which evaluates and studies consumer algorithms to enable enterprises to implement the most effective business models to reach their target markets, was born out of the four original co-founders’ vision to create a commercial software that “will learn as robots do.”
“The fundamental strength of our software is this,” Domingo explains, “Imagine a robot approaching a wall head on. To avoid crashing against it, the robot can’t store that data (that he is about to hit a wall) and analyze it later to produce the desired result. He needs to learn how to get around it now, and how to back up and find another route.”
IT’S A MATTER OF MEMORY
As daunting as LINK’s cognitive analytics platform may initially sound, it is really quite simple.
“Remember the term ‘as of’? Fundamentally,” Domingo says, “we believe that the way we do things today—the traditional data management involving storage and then analytics to gather insights—is no longer good enough to serve today’s companies. What these enterprises need are real-time insights out of live, real-time data.”
What LINK does is understand consumer behavior by analyzing how people respond to products and services offered by companies, giving the latter the advantage of coming up with the most effective strategies in reaching out to their audience. For an advertising business, this implies more targeted TV commercials. Four different people could be watching the same TV show at one time, but the ads popping up on all four screens would be different and catered to the viewer’s profile, or, as Domingo puts it, their propensities. To cut the story short, DANATEQ’s technology is “offer matching based on real time profiling at the individual level,” he states.
Whereas traditional analytics platforms make use of storage to mine insights from their existing data pools, LINK’s processing is done mainly in memory. And in this age of fast-evolving technology, this is still considered “young”.
Adoption, for one, can be quite the challenge. “There’s a need to educate the market that our technology is not far-fetched—this isn’t Star Trek or Star Wars. It is already happening now. We just have to change the original thinking that you need to store data first, and only then can you query to get insights,” Domingo says. “What we do is take the data, and process it in memory to generate results now,” he adds.
A Singapore-organized company, DANATEQ was formed by four co-founders coming from backgrounds as diverse as telecoms, control systems, robotics, and defense. They banded because of the vision to enable enterprises to implement continuously improving automated business processes through cognitive loops.
“Our first vertical is the telecommunications industry where we enable leading operators to create 360-degree customer views as the first step to a cognitive enterprise,” Domingo informs. If, of late, you’ve been wondering how the SMS alerts you’ve been getting from your mobile provider seem accurately tailored to your tastes and preferences, then you’ve just had a first-hand experience of what cognitive analytics can do. “It’s your telco’s desire to give you what is relevant to you, and not force you to avail of a generic plan or promo. We help do that by analyzing your behavioral patterns, learning the propensities, and then using these to anticipate your needs. Instead of being very company- or product-centric, we get to you at the individual level,” he says.
For a company founded only four years ago, DANATEQ has experienced massive growth. “We double our business every year, and we continue to grow. And due to serendipity, the first place we actually rolled out our technology is in the Philippines, in the telco industry,” Domingo informs. He attributes this to Philippine telcos’ strong drive to innovate. “Philippine telcos are very cutting edge—they’ve always been known in the telco space as innovators and game-changers. They lead the innovation curve globally,” he states.
While a chunk of DANATEQ’s business deals in telecommunications, another growth area they’ve identified is social media analytics. “There have been discussions around different places, but social media analytics is most promising,” Domingo says, adding that in social media analytics, DANATEQ uses natural language processing to search for keywords in social networks and blogs. “It’s a very powerful tool to see what is the general sentiment about a brand or product. We’re using social media sentiment as a predictor of behavior and as a propensity input towards what the likely behavior of a customer is. Social media analytics is the new word of mouth,” Domingo says, “and it’s high time enterprises take advantage of it.”
Published August 4, 2014, Manila Bulletin