The challenge of "big data" is well recognized as multi-faceted in terms of its Volume, Variety and Velocity, and SAS has had a roughly 35-year head start on the rest of the industry in dealing with it. Our solutions are dyed-in-the-wool to address the "3 V's" of big data, in addition to its variability and complexity. But the biggest reason that big data is such a challenge is that it's equally well recognized that ignoring big data is the highest risk of all.
Market expectations of responsiveness and service, with ever-tightening resources have highlighted how customer data holds great potential for competitiveness. That puts marketing in a strong position to find and pursue those opportunities, and also to prioritize choices to have the biggest impact on the bottom line. At SAS, we call that "marketing optimization," and we've prioritized our solution for optimization as the first, most impactful way we can help you meet the challenge of big data.
Enter SAS® High-Performance Marketing Optimization.
SAS® High-Performance Marketing Optimization (HPMO) applies analytical optimization algorithms to marketing campaigns to solve complex business issues, such as profit maximization, saturation control, contact policy compliance and budget constraints.
When it comes to HPMO - the question I often hear is this – “SAS® High-Performance Marketing Optimization allows companies to perform marketing optimization activities faster – so what? So what if I can do things faster? How does that help me?”
Well, there are some great things the extra speed can do and I'd like to highlight 3 big benefits, but first let's start with a little background.
Marketing workflows are often complex, involve multiple inputs, and require collaboration of the entire marketing organization. Complex optimization decisions happen at multiple places in detailed marketing workflows, such as deciding which customers receive which offers and at what time intervals. Traditionally, the marketing campaign execution and optimization process has taken organizations many days to complete, and with HPMO that process goes from days & weeks to mere hours. That leads to the 3 big benefits, beginning with the very transformation of the marketing workflow (time). It will allow organizations to respond more quickly (money). And HPMO will give marketers the ability to focus on other strategic initiatives (resources). Here are more details on what those benefits mean to marketing:
Time – HPMO rapidly optimizes massive volumes of customer data. This decreases times associated with manual campaign execution and optimization. Additional horsepower and integration with SAS® High-Performance Analytics (massive customer data is sent out to the appliance, distributed, optimized and returned in an easy and efficient fashion) allows marketers to quickly solve complex optimization challenges that were previously unsolvable in shorter time periods. Optimization procedures can be executed against the entire set of customer data, not just a sample or control group. A marketer with hundreds of campaign offers, thousands of contact policy constraints, and millions of rows of customer records can perform complete “what if” scenarios in minutes.
Money – Reacting faster to business climate changes save organizations money. Full stop. For example, a company experiencing sudden churn due to a competitor launch or promotion can now respond, execute, and optimize marketing offers quickly and decisively. Thus reacting rapidly decreases churn and lowers attrition – while promoting retention and growth.
Resources – When organizations can free up headcount to focus on strategic marketing initiatives as opposed to performing tactical tasks (monitoring campaign execution and optimization) they have happier, more challenged individuals working for them. The organization benefits by moving in a more strategic direction and focusing on strategic components of the business while the individual is satisfied in the work they are performing.
At a time when instant, relevant, and personalized offers are king - SAS® High-Performance Marketing Optimization helps companies maintain competitive advantage - by freeing up time, money and resources. Imagine what you as an organization could do with more time, money, and resource – you would have the ability to completely transform the way your business operates. Move from the tactical to the strategic – have a deeper look at SAS® High-Performance Marketing Optimization today.