CAMBRIDGE, MA—ZyloTech, founded by Abhi Yadav and Iqbal Kaur, this month announced the first artificial intelligence-powered platform for advanced customer analytics. The platform enables companies to solve data quality issues and analyze all customer data continuously and in near real time for superior insights in support of omni-channel marketing operations, the company said in a statement,
Formerly DataXylo, ZyloTech is an MIT spin-off launched in 2014.
Developed by Yadav, an MIT-trained data scientist serial entrepreneur, and Kaur, an enterprise analytics expert, formerly at Target, Lowes and GE, the ZyloTech platform uses two layers of machine learning to continuously, and in near-real-time, identify, unify, cleanse, enrich and analyze all customer data from hundreds of data sources, giving marketers actionable, omni-channel customer intelligence at a far lower cost than ad hoc manual efforts. Building on a year of success with initial clients, including some top five companies in retail and high tech, ZyloTech is now making its platform broadly available.
“In the rapid-fire direct marketing world where improvements are measured in fractional percentage points, ZyloTech clients, who have been using our solution for more than a year, have frequently reported a 4-6X lift in their customer retention and monetization efforts,” said Yadav. “Using the ZyloTech platform, clients can leverage all customer data with unique accuracy and predictions. With excellent results to date, ZyloTech is ready for rapid expansion as the first and only platform to truly solve the customer retention and monetization problem on a bottom-up basis.”
The company’s award-winning A.I.-powered customer analytics platform solves several critical marketing operations challenges, including:
- Acquiring a new customer is five to 25 times more expensive than retaining an existing one; yet only 16 percent of companies put their primary marketing focus on growing existing customers.
- Without automated tools for data curation and analytics, marketers must rely on IT and can’t know or interact with their customers on a meaningful, personal basis.
- Omni-channel customer data moves too quickly, perishes easily and is too varied for today’s resource-intensive big data approaches relying on armies of data scientists, whose manual work can curate or consume at best 10 to 15 percent of customer data, in weeks or months of work.
- Marketers are forced to throw big money at new customer acquisition: $68 billion in digital ad spends and $9 billion in direct mail ad spends per year, including to their existing customers.
“Thought leaders in the artificial intelligence space agree: machine learning is the best and only way for marketers to engage with their existing customers at the point of action or intent, propelling customer to the next best interaction with the brand,” said Michael Fleischman, ZyloTech advisor and founder of BlueFin Labs (acquired by Twitter). “Current big data approaches, even with the experienced data scientists and engineers, can’t wrangle the vast and ever-increasing amount of omni-channel customer data. That’s where the A.I.-powered ZyloTech platform comes in.”
Core features of the ZyloTech advanced customer analytics platform include:
- Dynamic Data Engine leverages machine learning algorithms trained on vast sets of complex customer data to automatically identify, unify, cleanse and enrich customer data to make it consumable.
- Embedded Analytics Engine leverages a comprehensive analytics recipe, from micro-segment views to advance predictive analytics, to continuously analyze hundreds and thousands of data points and uncover each existing customer’s DNA and intent.
- Self-service User Interface (UI) provides marketers with a 360-degree customer playbook on their desktop to maintain control of customer insights and cohorts, deploy timely, effective promotions, and trigger actions to their chosen omni-channel marketing automation, email marketing and business intelligence (BI) tool.
- APIs and Connectors connect to any customer data rapidly, wherever it lives, whatever it looks like and however much it changes. Similarly leverage it in your favourite tool to avoid any rip and replace cycle.
Leveraging years of academic research on behavioral science and artificial intelligence technology, the ZyloTech leadership team has extensive industry expertise using advanced customer analytics to deliver highly-effective customer retention and monetization in the real world. The group includes a unique mix of industry veterans in enterprise analytics and academia, including a high-profile board and advisory team, PhD’s in artificial intelligence, data scientists and other marketing experts from the MIT ecosystem.
