NEW YORK | MUMBAI, January 19, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has introduced TCS Customer Intelligence & Insights™ (CI&I) for Retail 3.0, to help retailers deepen relationships with consumers through hyper-personalized engagement at every step of the customer journey.
The software generates insights, predictions, and recommended actions at key physical and digital touchpoints, resulting in higher returns on marketing investments, greater customer satisfaction, and increased customer lifetime value. The solution includes a unique combination of a real-time customer data platform (CDP), intelligent loyalty management, and AI-driven customer analytics with next-best action recommendations and journey orchestration.
With customers barraged with more choices than ever, TCS CI&I for Retail 3.0 helps retailers respond effectively to rising customer expectations, decreasing loyalty, and increasing attrition. CI&I also addresses the challenge of siloed marketing technology stacks by creating single, integrated customer 360° views from all channels of engagement, from point of sale, websites, applications and loyalty programs to partners and databases. Using CI&I, marketers can gain an enhanced understanding of customer behavior, sentiment, and preferences across all channels of engagement, enabling them to deliver more personalized, consistent and seamless offers and opportunities.
Unlike traditional transactional points-based systems, CI&I’s intelligent loyalty management tools enable retailers to deploy hyper-personalized and purpose-driven loyalty programs that align with a consumer’s personal goals and values. For example, an eco-minded shopper at an outdoor recreation store who is using the store’s mobile app to find running shoes made of recycled materials could receive a bespoke customer experience. After making a purchase with the help of a sales associate who explained how the shoes are ethically sourced, insights from CI&I could automatically trigger the customer to be upgraded to the next tier of the store’s green loyalty program. They could also prompt smartphone alerts notifying her of targeted loyalty offers and experiences that she is likely to appreciate, such as discounts for environmentally friendly adventures.
“With insights delivered in real time, retailers can now personalize customer engagement across physical and digital channels at all points along the customer journey. This leads to greater marketing effectiveness, a better customer experience, and higher customer lifetime value,” said Ashvini Saxena, Head, TCS Digital Software & Solutions and Components Engineering Group, TCS. Certified as RealCDP™ by the CDP Institute, CI&I 3.0 can be deployed on-premises or in the cloud and has been optimized for deployment on Microsoft Azure, as well as other providers.
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 613,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.