Not so long ago in a galaxy near you, the most successful companies applying advanced analytics to massive amounts of customer data were digital darlings and social media stalwarts, e.g., Amazon, Netflix, PayPal, Facebook and Google.
These rebels of the so-called New Economy reaped the benefits of business models enabled by the advent of the Internet era and exponentially boosted by mass adoption of smartphones over the last decade. Fortune and glory abounded for those who mined the rich vein of digital data generated online, generating a shock wave that disrupted the old guard. Since 2000, 50% of the Fortune 500 have disappeared. Obi-Wan Kenobi would call that a great disturbance in the corporate Force.
But the companies that remain have learned their lessons. After years of major capital investments to upgrade their data arsenals, amplified by the one-two punch of cloud computing plus machine learning, the Enterprise is ready to Strike Back.
Google may know where your dinner reservation is tonight, but when it comes to major purchases like vehicles, no one knows more about you and your F-150 than Ford, because the automaker and its dealers have literally years of data to learn from, not just your last purchase but also everything that happened before, and after, you picked up those keys. This rich history includes everything from test drives and loan applications to tune-ups and tire changes.
Like the AT-AT walkers on the ice planet Hoth inexorably bearing down on the doomed rebel base, this kind of information delivers an overwhelming competitive advantage. Facebook and Twitter know what you “like”, Google knows what you’re searching for, and Amazon would happily sell you a pickup truck if only you added it to your cart, but it’s a much different equation when old-school companies with established customer relationships tap into the new science of customer success.
Winning the data game is not guaranteed for the likes of Facebook, despite their seemingly insurmountable leads. At Cerebri AI we have assembled a crew of data-science Jedi knights and our mission is to help enterprises master the ways of the machine-learning Force. It’s a big challenge, but so was attacking a giant space station with a handful of X-wings. To quote Han Solo after C-3PO tells him the chances of successfully navigating the asteroid field are approximately 3,720 to one: “Never tell me the odds!”