New tools for data management platform
In its Modern Marketing Experience event in April 2015, Oracle (ORCL), apart from announcing new additions to its Marketing Cloud, also unveiled enhancements to its data management platform (or DMP). These enhancements include Lookalike Modeling and OnDemand On-Board.
According to a VB Insight report released in March 2015, Adobe (ADBE) is leading the marketing cloud space as the below presentation shows. Other leading players in this space that the report cites include Oracle, Marketo, and Salesforce.com (CRM).
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New features will enable marketers to maximize data from marketing automation and web analytics platforms
According to Demand Gen Report, Lookalike Modeling is a tool that helps users of Oracle’s cross-channel marketing automation platform. The tool aids in data collection from marketing automation, mail marketing, and web analytics so that an intended prospect list can be prepared. This list of prospects reflects a business’s ideal customers. Oracle’s acquisitions of Eloqua and Responsys have strengthened its cross-channel Marketing platform.
Oracle also introduced its OnDemand On-Board feature to its DMP. Through OnDemand On-Board, marketers can leverage data to distinguish their ideal customers, thus enabling web analytics to be more insightful and actionable. The offering imports data from web analytics and then pushes it directly into the data management platform. This enables marketers to avoid lengthy integration cycles and improve their conversion rates.
According to John Stetic, Group VP of Product for Oracle Marketing Cloud, “With the addition of Lookalike Modeling and OnDemand On-Board, we are introducing innovative new capabilities to our data management platform that will help marketers break down traditional silos and connect the relevant data they need to create great customer experiences.”