Customer data platform has transformed wealth campaigns and delivers precise client targeting
What is our primary use case?
The major use case that we do here is designing the entire customer data platform on ActionIQ Platform. As part of an investment bank, we have multiple products to offer to our clients. The different kinds of products that we have to offer to clients are designed out in ActionIQ Platform based on the different eligibility criteria of the client. As per the eligibility criteria, participants get picked into one or other products according to the design condition that we create and different models on ActionIQ Platform.
The eligibility criteria that we set up in ActionIQ Platform is more like a drop-down feature that we have in ActionIQ Platform. If an international indicator of a participant is yes, that means they are resident to the US or some other country. These all kinds of fields would be there. If a participant's stocks are getting vested in the next 30 days, these all eligibility criteria we set on ActionIQ Platform. Then the age bracket of the participant, we set it on ActionIQ Platform. Then for specific companies to which these participants are belonging, those all conditions we also set up. Then on the wealth criteria, if a participant is falling under a wealth criteria of 100k to 200k dollars or more than 200k dollars, these all wealth brackets are also being set up on ActionIQ Platform. The data that we use basically comes from the Hadoop and Snowflake, where we take this big data from our upstream sources. Then we use it in ActionIQ Platform to design our customer data platform.
What is most valuable?
ActionIQ Platform has been a very helpful tool in designing our entire customer data platform in our wealth management domain, which has been really helpful to segregate the participants according to their eligibility and it has worked very efficiently to target out the participants according to the perfect use case.
The best feature that ActionIQ Platform provides is it is able to handle a very large amount of data. It comes handy with the big data tools such as Snowflake and Databricks. These provide a very handy feature to handle a very large amount of data. At the same time, the second best feature is creating out the rules and the eligibility criteria for the participant. It works very efficiently to target the participant according to the eligibility criteria that we set and which helps us a lot in the reconciliation process. That is all that I found very valuable with ActionIQ Platform.
What needs improvement?
One feature that I can think of is that apart from the batch mode where the data gets refreshed on ActionIQ Platform, if we could get that done on a real-time basis, it would be more helpful given whatever data needs to be processed.
For how long have I used the solution?
I have been using ActionIQ Platform for more than three years and I am majorly using it for the customer data platform modeling on the wealth management business of Morgan Stanley.
What do I think about the stability of the solution?
ActionIQ Platform is very much stable and along with that, we also get a dedicated tech team to help us in challenging situations.
What do I think about the scalability of the solution?
I did not find much challenges in scaling up and down with ActionIQ Platform. It was very much helpful in handling the amount of data. To be more precise, almost 1 TB of data it was able to handle, so we did not find many challenges with ActionIQ Platform on the scalability part.
How are customer service and support?
The customer support team of ActionIQ Platform was very much helpful. They used to connect with us on a weekly and bi-weekly basis with all the queries and doubts that we had along the platform or setting up the infra. Anywhere we had any queries, they were very much proactively helping us in this scenario, which did not make it feel challenging for us and we could deliver the deliverables on time.
How would you rate customer service and support?
Which solution did I use previously and why did I switch?
Previously, everything was running on the big data side, the Salesforce marketing team was doing the marketing and the back end was from the Hadoop. It was not that effective given the customer data platform, how easily we could create on ActionIQ Platform was missing on the Hadoop platform.
How was the initial setup?
Initially, when we set up, there were initial challenges, but the in-house ActionIQ Platform tech team was also very much helpful. Whenever there were some blockers or some issues, they used to come in handy and then they would walk through the platform, whether it be with the connections or whether it be with any reconciliation issues. All those gaps that we found initially were being completely resolved by the in-house ActionIQ Platform tech team. So we did not find much challenges and it was very much handy for us to work around with ActionIQ Platform in the coming days.
What was our ROI?
After using ActionIQ Platform, it was able to record all the targeting that we do to the end client and it used to give us a very exact number of what was the feedback. When we integrated it with Salesforce, we were able to achieve a very good feedback on how the end participant responded to the campaigns for which we were targeting them. We found that from the traditional marketing campaigns which we used to drive earlier, after using ActionIQ Platform, there has been a very great boost to the business. Around the campaigns were successful to a point of 98 to 99%.
We measure this metric by looking into the feedback that we get from the Salesforce team. From all the participants that we send out the marketing campaigns, we look into the metrics of how many participants have responded back positively. Then what was the gaps between communication and all, we try finding it out. We have integrated our ActionIQ Platform with SFMC for our email-based targeting. We have used ActionIQ Platform for ad-based campaigns as well. From all this feedback, whatever we get from the downstream are also consumed into ActionIQ Platform as a feed file, which helps us look into the metrics of the number of participants whom we targeted and the feedback file that we receive. 98 to 99% of these participants we got feedback, whatever be their decision on the final product that we offered to them.
As for the business metrics we got in our monthly report, ActionIQ Platform really helped us save our time and then on the resource as well. From the manual process of marketing campaigns which used to run earlier, ActionIQ Platform helped us by reducing 80% of the effort, and as mentioned, the accuracy of the campaigns increased to 98 to 99%.
Which other solutions did I evaluate?
This was something which POCs were done by the infra team and I did not have much insight into this aspect of it. ActionIQ Platform on all of the front was a clear winner. That is the reason the infra team went ahead with ActionIQ Platform.
What other advice do I have?
ActionIQ Platform gives a holistic solution. If you are looking to build a customer data platform or dealing with a very large amount of data to build out the different marketing campaigns, it comes in as a very handy tool.
We work very closely with ActionIQ Platform as a partner.
I felt all good in my experience with ActionIQ Platform. I would rate this review a 10.
Which deployment model are you using for this solution?
Public Cloud
If public cloud, private cloud, or hybrid cloud, which cloud provider do you use?
Great partnership, transparent roadmap, accessible leadership.
What do you like best about the product?
The entire org is very transparent, and collaborative, and leadership is accessible to our team for guidance & to understand the "art of the possible". SMEs are easily accessible through our account team when we need their insights, both as a reactive ask from our team, and as proactive recommendation from the account team.
What do you dislike about the product?
Wouldn't say "like least" but with new features that we implemented, some more growing pains on both sides as we figure out how to implement, but collaborative approach to the solution.
What problems is the product solving and how is that benefiting you?
Enabling orchestration across channels, identity resolution, onsite 1:1 personalization, democratizing capabilities through evolving operating model.
Valuable CDP with great Customer Support
What do you like best about the product?
ActionIQ has a wonderful team of experts that not only know their product like the back of their hand but also take the time to understand your business goals and how their platform can help you achieve. They are proactive with bringing new ideas and developing roadmap for key initiatives to accomplish to keep the entire organization accountable. In addition, their reps are wonderful at training and providing the resources needed to get those using up to speed.
The platform itself is user friendly and a great way to organize all first party data, generating customer journeys and doing so at scale.
What do you dislike about the product?
Reporting capabilities and the need to incorporate SQL in some instances of the audience generation process.
What problems is the product solving and how is that benefiting you?
Acition IQ helps our business organize on first party data, site activity, generate customer journeys for retargeting and reach these users through our digital platforms.
A brilliant Customer Data Platform with refined data models
What do you like best about the product?
ActionIQ's biggest strength is its highly refined data modules and the high amount of composability it offers. Data ingestion and the resultant analytics are spot on and the integrations on offer especially with data warehouses are plentiful.
What do you dislike about the product?
They need to improve their campaign delivery features. They promised to introduce generative AI features for prompt-based profile building but that has been significantly delayed.
What problems is the product solving and how is that benefiting you?
We were looking for a CDP that could connect with our existing data warehouse solution to create customer profiles for targeting. ActionIQ has been servicing us very well for that purpose.
AIQ platform is good but has room to grow
What do you like best about the product?
ActionIQ is a great tool for storing our customer data and making it usable for campaign segmentation. I think in general it is set up in a way that makes sense, with all the different tabs clearly providing different activities you can do. There are many out of the box integrations which makes it very easy to continue making this the home for all of our data. The support team that I work with is lovely, always available, and have great problem-solving "can-do" attitudes.
What do you dislike about the product?
I dislike that attributes have to be written in SQL and I think it adds an unnecessary layer of complexity to the platform. I wish that you could just drag and drop fields like other simpler platforms, like Eloqua for example. I think there are often platform limitations and it seems like the kinks are still being worked through. There are often platform failures and unfortunately there doesn't seem to be a way to mass pass/unpause when these errors occur.
What problems is the product solving and how is that benefiting you?
It stores all of our data in one place from different sources like purchases, site activity, app activity, permissions, etc. It's great to have it all live in one place and gives us the ability to create robust segments using a breadth of data points. It also allows us to actually execute campaigns using features like journeys and audience activations.
AIQ Review
What do you like best about the product?
The easy user interface empowers even the least technical business user to utilize and leverage the platform. As I often collaborate with marketers to use the platform and build out audiences, the fact that AIQ has a very seamless UI/UX ensures that they are effectively able to use the platform and it doesn't instill that daunting sentiment that oftentimes a more technical heavy platform would.
What do you dislike about the product?
The inability to have visibility into a lot of success/failure metrics. For example, when we enable a campaign/journey through AIQ - we would like to know how successful that campaign or journey was.
What problems is the product solving and how is that benefiting you?
Within NMG we are currently trying to enable more personalized journeys and campaigns to reach a more refined list of users in a more specialized way to ultimately improve the overall user experience of our marketing methods. The benefit of having AIQ is that it serves as a helpful tool to house the personalization data that can then be leveraged by our business users
Recommendations to others considering the product:
The best way to become familiar with the tool is by diving straight in and playing around with its features and various tools. I think there are a multitude of capabilities that can be leveraged through AIQ if a user knows how to effectively implement them
AIQ Review
What do you like best about the product?
Ability to copy previous audiences and flights for future activities.
What do you dislike about the product?
The flight process is bulky. There are too many steps to get something done. Also, I wouldn't say I like getting a pushback whenever we would like a change or improvement. It is apparent that AIQ is not looking to customize this tool for their clients. In addition, I do not like when a change is made without the ability to test it first. They never made a staging environment available for us to test functionality prior to promoting it to a live environment. AIQ does not have the ability to provide email notifications when a file is uploaded and that would be helpful.
What problems is the product solving and how is that benefiting you?
I am a user of the tool, we have a project manager who works with AIQ on problem solving.
Easy and Intuitive CDP!
What do you like best about the product?
I love how easy it is to map journeys and focus on customer personalization within the platform. Awesome tool for segmentation/audience creation. Clean UI.
What do you dislike about the product?
It would be great to be able to get more dashboarding/reporting within the platform.
What problems is the product solving and how is that benefiting you?
A helpful tool for self-serve and allowing those with limited data/analytical skillsets to structure personalization journeys, audiences, etc.
Good CDP with lots of functionality available
What do you like best about the product?
There's a lot of things available to do in AIQ - you can create segments, journeys, or one off activations all in one platform.
What do you dislike about the product?
In comparison to other systems I've used, I don't find AIQ to be as user friendly. It requires some knowledge of SQL and isn't necessarily the most intuitive experience.
What problems is the product solving and how is that benefiting you?
We are creating segments for our various brands. It's nice to have all the different brands in one system, so we can have a holistic view of a user all in one platform.
A valuable tool for integration
What do you like best about the product?
The ability it has to connect various tools into its platform.
What do you dislike about the product?
It's not really user-friendly or intuitive. It definitely takes some getting some used to.
What problems is the product solving and how is that benefiting you?
We connected our email service provider to it and created email lists with it.
