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Reltio today enters the customer data platform (CDP) space with a new release that expands the company’s master data management (MDM) platform.
Reltio Customer 360 Data products are built on the Reltio Connected Data Platform, which is increasingly adding enhanced artificial intelligence (AI) capabilities to help improve MDM. While MDM aims to master all types of data and maintain the most accurate version, the new Reltio Customer 360 Data product is specifically focused on giving organizations a unified view of their customers. I am.
The product adds a set of enhanced AI capabilities, including Reltio Intelligence Assistant (RIA), a generative AI conversational assistant for data exploration. Reltio also uses an in-house developed large-scale language model (LLM) approach called Flexible Entity Resolution Networks (FERN) to ensure data recording accuracy.
“What we’re seeing is a growing horizontal need across all industries for a 360-degree view of the customer,” Reltio CEO and Founder Manish Sood said in an exclusive interview with VentureBeat. That’s the thing,” he said. “They’re all struggling to piece together a holistic, unified 360-degree view that not only needs to be used for marketing, but also with the promise of the type of customer data platform they are meant to be. Not only do we need it, but we also need it as an interoperable asset that we can provide organizationally.”Up with real-time orientation. ”
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How FERN improves entity resolution to master customer data
The key to mastering data is being able to understand all the different ways a particular entity can exist within a data set.
For example, a customer’s name may be spelled in different ways (such as Dave or David). Entity resolution is an operation that helps you keep track of everything.
Reltio Customer 360 Data products integrate the company’s FERN approach, which harnesses the power of LLM to accelerate entity resolution. Sood explained that FERN uses his LLM to enable zero-shot entity resolution capabilities. This eliminates the need to train a model for each customer context.
FERN uses internally pre-trained open source large-scale language models to perform fast and highly accurate string comparisons for entity matching. This enables cross-language matching of entities such as names, addresses, etc. that are expressed differently in different languages. Even languages and character sets. He said entity resolution can be performed in less than 50 milliseconds, making it suitable for real-time use cases.
Although Sood did not reveal specific models, he explained that Reltio uses a number of different open source models to enable FERN.
“What we’ve done behind the scenes is we’ve pieced together several different models that can be used for very specific functions, such as comparing names, addresses, company names, and product names. We analyzed it with a model,” he said.
Don’t know SQL? No problem, RIA can help.
Reltio also uses multiple models to enable Reltio Intelligence Assistant (RIA) technology, which is part of the Customer 360 Data product.
Historically, advanced data queries on various types of data platforms have typically been performed using Structured Query Language (SQL). RIAs remove that requirement and provide gen AI assistants that enable natural language queries of data.
“Our goal is to make it easy for non-technical users to access and interact with data and explore different aspects of it,” said Sood.
Reltio goes beyond regular CDP functionality
In a typical CDP, the data is typically used for customer marketing and management. Reltio is positioning its new product as going beyond typical CDP functionality as a data product.
The concept of data products is to take data and use it as a product to solve a specific purpose. Sood explained that from Reltio’s perspective, data products take specific domain data, package it, and make it easily and consistently available across different use cases and downstream systems. This package includes features for real-time API access, integration into analytical systems, and provision of his AI models with the latest enterprise context.
Going one step further, Reltio offers data observability as part of its Customer 360 Data product. This includes continuous monitoring of the data provided by the API and maintaining service level objectives and consumption patterns.
In the future, Reltio plans to expand its services to include additional data domains by vertical and use case. However, our current focus remains on improving the conversation experience based on customer feedback.
“We’re really looking forward to spending more time with our customers and thinking about how we can further refine the experience and what additional skills and capabilities we need to add to help them explore their data in different ways. ” said Sood.
