Reltio has entered the Customer Data Platform (CDP) market with the launch of its new Reltio Customer 360 Data Product, an extension of the company’s master data management (MDM) platform.
Built on the Reltio Connected Data Platform, the Reltio Customer 360 Data Product incorporates advanced artificial intelligence (AI) capabilities to enhance MDM. While MDM focuses on maintaining an accurate version of all data types, the Customer 360 Data Product aims to provide organizations with a comprehensive, unified view of their customers.
The product features the Reltio Intelligence Assistant (RIA), a generative AI conversational tool designed for data exploration. Additionally, Reltio employs a proprietary approach known as Flexible Entity Resolution Networks (FERN), which utilizes large language models (LLMs) to ensure the accuracy of data records.
Manish Sood, CEO and Founder of Reltio, highlighted the growing demand for a 360-degree customer view across various industries. He stated, “Organizations are struggling to create a holistic, unified view of their customers that is essential not only for marketing but also as an integral, real-time asset.”
Enhancing Entity Resolution with FERN
A key component of mastering customer data lies in effectively understanding the various representations of a specific entity in a dataset. For example, a customer's name might be listed as "Dave" or "David," and entity resolution identifies and consolidates these variations.
The Reltio Customer 360 Data Product integrates the FERN approach, leveraging LLMs for rapid entity resolution. Sood explained that FERN enables zero-shot entity resolution, eliminating the need for tailored model training for each customer context. Utilizing pre-trained open-source LLMs, FERN performs quick and accurate string comparisons for entity matching, facilitating cross-language matching of names, addresses, and more. This process can achieve entity resolution in under 50 milliseconds, making it ideal for real-time applications.
User-Friendly Data Interaction with RIA
Reltio's RIA technology simplifies data interaction, allowing users to perform advanced queries without needing to know structured query language (SQL). RIA enables natural language queries, making it accessible for non-technical users to explore data effortlessly.
“Our aim is to make data interaction easier for all users,” Sood stated.
Beyond Traditional CDP Features
Unlike conventional CDPs focused on customer marketing, Reltio's new offering goes further, positioning itself as a comprehensive data product. This concept revolves around packaging domain-specific data for consistent consumption across various use cases and downstream systems. The data product includes real-time API access and integration with analytics systems, ensuring that AI models have up-to-date enterprise context.
Reltio also offers data observability as part of the Customer 360 Data Product, which involves continuous monitoring of data served via APIs, maintaining service level agreements, and tracking consumption patterns.
Looking to the future, Reltio plans to broaden its offerings to encompass additional data domains across various verticals and use cases. The current focus remains on enhancing the conversational experience based on user feedback.
“I’m committed to refining the experience based on customer input and adding new skills and features to help them explore data effectively,” Sood concluded.
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