Organizations worldwide are currently struggling to cope with the numerous challenges associated with storing information on their customers. The key issues with holding such data include security, the sheer volume of information that has to be stored and analyzed, and maintaining the privacy of individuals while enabling the data to be processed effectively. Without the ability to process and connect the numerous pools of consumer data available to them, organizations are failing to gain real business value from the wealth of information now out there.
Cognitive Logic recognizes that businesses have silos of information on customers and prospects locked away in different departments that cannot be combined in a privacy-safe way. It solves this issue by aggregating the data and ensuring no personally identifiable information (PII) is available. In addition, Cognitive Logic’s service will enable different companies to join forces and combine two completely different datasets in order to identify key trends and insights into the behavior of customers and prospects. For example, a financial services provider has access to spending behavior data and a retailer has information on purchasing patterns. By combining the two sets of data in an anonymous and aggregated manner, both companies can gain insight into the demographics of high spending groups, what products are proving most popular, when purchases are most likely to be made and more.