SAN DIEGO, March 27, 2018 /PRNewswire/ -- Teradata
(NYSE: TDC), the leading cloud-based data and analytics company,
today announced that Overstock.com Inc. (NASDAQ:OSTK) is using
Teradata Path Analysis as part of its customer journey analytics.
Overstock, a leader in online retail, needed a path analysis
solution to visually analyze customer data from multi-channel
marketing campaigns and key customer milestones in their journeys.
With the overall goal of reducing unnecessary marketing spend and
identifying loyalty opportunities, Overstock is leveraging a
pathing interface developed by Teradata to put advanced path
analysis, once solely the domain of specialists and data
scientists, directly into the hands of marketers, business analysts
and non-technical professionals. Teradata will also be
incorporating path analysis capabilities into the Teradata
Analytics Platform.
"Teradata is helping Overstock visually analyze and understand
customer behavior," said Joe
Kambeitz, Vice President of Product Management &
Marketing Analytics for Overstock. "'Path analysis' may sound like
a simple concept, but it's actually incredibly challenging to
perform, especially in the hands of non-specialists. Anyone who has
ever tried to unlock this type of analysis will understand – the
visualizations and capabilities of this solution make it extremely
easy without sacrificing deep understanding. With Teradata Path
Analysis, we simply point at our data sets, and start unlocking
insights."
Overstock is using Teradata Path Analysis to enable business
professionals to visually explore multi-channel customer paths, as
well as the marketing costs associated with those paths, without
writing a single line of code. To accomplish this, Teradata's Path
Analytics integrates data, such as marketing and advertising costs,
with customer data from marketing campaigns and website traffic, to
identify both efficient and expensive paths to particular
behaviors, such as purchase. Leveraging advanced visualizations,
users can highlight specific paths to identify customers who, for
example, might be interested in the Club O rewards program. Teams
can then distribute the visualizations, or access the raw code to
share with data scientists and others to prepare advanced
algorithms.
"Path analysis is a critical analytic component for any business
looking to understand its customer – and yet, with the multitude of
channels available today, it's also one of the hardest to get
right," said Oliver Ratzesberger,
Chief Operating Officer at Teradata. "Teradata's Path Analysis was
designed to make it easier for business users to access the
information they need to grow their customer base, improve
operations and mitigate potential issues in their customers'
journeys. This capability, which is so impactful and significant
for such a broad range of industries, is included in the Teradata
Analytics Platform."
Late last year, Teradata announced the Teradata Analytics
Platform, which is comprised of the best analytic functions, the
leading analytic engines, the industry's preferred analytic tools
and languages, and support for a wealth of data types. This
forthcoming platform provides quick and easy access to a full range
of algorithms, including those for path analysis, and is a key
component of Teradata Everywhere: a flexible, agile and scalable
way to ensure high return on analytic investments, while limiting
the risk in making those investments.
Relevant News Links
- Read more about Teradata's Path Analysis
- Video demos of the Path Analysis interface are available on
YouTube
- Discover the Teradata Analytics Platform
- Learn about Teradata Everywhere
About Overstock.com
Overstock.com, Inc. Common
Shares (NASDAQ:OSTK) / Series A Preferred (Medici
Ventures' tZERO platform: OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer based
in Salt Lake City, Utah that sells a broad range of
products at low prices, including furniture, décor, rugs, bedding
and home improvement. In addition to home
goods, Overstock.com offers a variety of products
including jewelry, electronics, apparel, and more, as well as a
marketplace providing customers access to hundreds of thousands of
products from third-party sellers. Additional stores include Pet
Adoptions and Worldstock.com dedicated to selling artisan-crafted
products from around the world. Forbes ranked Overstock
in its list of the Top 100 Most Trustworthy Companies in 2014.
Overstock regularly posts information about the company and other
related matters under Investor Relations on its
website, http://www.overstock.com.
About Teradata
Teradata helps companies achieve high-impact business outcomes.
With a portfolio of cloud-based business analytics solutions,
architecture consulting, and industry leading big data and
analytics technology, Teradata unleashes the potential of great
companies. Visit teradata.com.
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MEDIA CONTACT
Jennifer
Donahue
858-485-3029 office
650-346-1153 cell
Jennifer.Donahue@Teradata.com
SOURCE Teradata