NGDATA Acquires Personalized Video Platform Rednun
To strengthen its Lily Enterprise customer experience solution, NGDATA today announced its acquisition of personalized video platform Rednun, whose data-driven smart video technology will be incorporated into Lily Enterprise to help companies use their data more effectively, generate real-time actionable insights, and create valuable customer interactions.
Rednun's personalized videos can be based on customer intelligence from CRM systems, online behavior, and third-party sources. The videos have various use cases, including on-boarding new customers, upselling or cross-selling based on customer profiles, and providing recommendations and retargeting customers based on purchase and click history.
According to Luc Burgelman, CEO of NGDATA, Rednun's ability to generate real-time videos from a variety of content is particularly valuable as it will allow NGDATA to see what a customer is interested in at the right time and deliver video content accordingly. "We were impressed by the technology and also the speed at which everything could happen," he says, and adds that because Rednun's capabilities are not channel-specific, NGDATA can push videos to a range of outlets.
Acquiring data was a challenge for Rednun, Burgelman says. "There was a lot of digging into old data silos to get things together," he says. "We said, that's what we have—we have on an atomic level the DNA of the client so we know exactly what they're doing, and we can anticipate when they need something. For them, that's pretty powerful—[now] they can just focus on receiving information at the right time, generating a video that looks really nice and reaching out to the client at the right time."
The two companies also found their target markets complementary. NGDATA serves the financial services, media and publishing, and telecommunications industries; Rednun has worked with telecom, travel, and entertainment companies. Together, the pair will look to build a customer experience operating system that automates and optimizes customer experience across all channels.
"Customer interaction is becoming more and more real time—it's location-based, [and] it's behavior-driven. That means you cannot have too many interfaces between when you detect a certain thing and the end consumer. You almost need to automate the whole chain from the moment you're using data and analytics up until when the consumer finally gets their piece," Burgelman says. "We see towards the future really evolving as a customer experience operating system."
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