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Business Brief
Better Understand Customers with
NexJ Customer Data Management
1
Better Understand Customers with NexJ Customer Data Management
BUSINESS BRIEF
©2016 NexJ Systems Inc.
In today’s market, many companies are undergoing transformation to get closer to prospects and customers
and strengthen relationships. These key data transformational initiatives tend to be stalled in a backlog
queue, stymied by rising implementation costs or struggling for alignment between the currents of enterprise
governance and business unit agility. Establishing a complete and reliable view of your data is the critical
success factor to enable a transformation. Traditionally, this has created back-office project dependencies
which delayed execution; created requirements for costly system replacements, retirements or upgrades
which increased costs; or created additional processing directives to enforce enterprise standards.
Application and data silos throughout the company hold
different types of customer data, such as holdings,
transactions, or billing, and sometimes conflicting versions
of the same type of data (e.g. legal name, preferred name,
maiden name). Data is moving faster than ever and it’s
quick to degrade in quality or age out completely.
Traditional approaches to integrating data into a single,
up-to-date view of the customer are expensive and
provide diminishing performance at the scale required for
a large enterprise. How do you cut through all the noise to
improve service personalization, conduct customer
profitability analysis, or deliver a superior omnichannel
experience?
NexJ Customer Data Management (CDM) was designed to
overcome these challenges. Its unique design enables
firms to define and deliver meaningful information in
engagement, processing, and assessment contexts to
cost-effectively increase business agility, resiliency, and
operational efficiency. With NexJ CDM, firms can create a
trusted 360-degree view to solve business problems that
require access to consistent, complete, and reliable
customer information. Firms can construct a 360-degree
view by defining the fields that comprise it and the master
data source for each, integrate with enterprise data
sources, and deliver the precise information needed by
each line of business, application, and user, in the context
in which they need it.
NexJ CDM Benefits
Lower Total Cost of Ownership
 ‘Model once, deliver many times’ design
ensures cost-effective delivery of the right
data at the right time
 Pre-built software replaces manual coding
requirements
 Durable design reduces rebuild and
maintenance costs
 Less need for specialized resources
Greater Agility
 Build a 360-degree customer view without
forcing back- and front-office systems to
change
 Add or retire applications or projects
quickly and without business disruption
 Change data requirements as needed
without long wait for IT resources
Increased Responsiveness
 Maintain performance at scale with flexible
design for enterprise information delivery
 Buffer the business against downtime by
leveraging cached data
 Pre-calculate data for end users
Clean, Complete Data
 Create a meaningful, consistent, and
accurate 360-degree customer view from
disparate, and potentially conflicting, data
 Provide end users with the precise
information they need, in the right context
2©2016 NexJ Systems Inc.
NexJ CDM manages, aggregates, and delivers integrated customer data for business consumption to:
 Front-office applications – These solutions need access to quickly changing
information from one or more back-office systems. To be effective, applications need
to receive the most up-to-date information, in the context in which they need it.
 Mobile applications – Due to the limited memory capacity of mobile devices, apps
need to work from a smaller set of very specific data to maintain speed and
responsiveness.
 Master Data Management (MDM) solutions – To maintain a ‘gold’ or official master
copy of data, MDM solutions need to be notified in a timely manner of data changes
for processing, approval, and update.
 Analytics projects – To produce reliable results, analytics projects need to be based
on clean, consistent data and parameters.
Unlike other integration solutions and data sources such as Enterprise Service Buses (ESBs), data
warehouses, or MDM solutions, NexJ CDM:
 Includes a semantic model that enables firms to:
 Ingest customer data from integrated sources and aggregate it into a single,
complete record of the contact
 Rollup customer data along flexible user-managed hierarchies
 Pre-provision common calculations
 Cache customer data to ensure applications and users have reliable data even when
integrated systems are down
 Store historical snapshots for change history and analytics
 Builds a 360-degree view of the customer from comprehensive customer information,
including data stored in integrated systems and streaming data from external sources,
such as social media and news feeds. It also performs calculations required by
applications and users to rapidly provide current data.
 Enables firms to build data sets (information models) organically and evolutionarily.
These reusable information models can be used to deliver the exact customer data
required to new applications or projects, in the context it is required, without any
downtime or waiting for available resources.
 Eliminates the disruption of adding or retiring front-end and back-office solutions and
launching or changing projects such as analytics or mobile app delivery. Because NexJ
CDM divorces the comprehensive customer view from the interfaces that deliver the
data to end users, firms do not need to build interfaces from scratch each time a
solution or project changes or use a single, generic interface that dumps massive
amounts of data into applications.
3
Better Understand Customers with NexJ Customer Data Management
BUSINESS BRIEF
©2016 NexJ Systems Inc.
 Reduces reliance on IT resources by automating work required for data migration,
conversion, and data loads (such as design, testing, validation) and reusing
information models and interfaces to reduce maintenance and the need for expensive
rebuilds
How NexJ CDM Helps
NexJ CDM helps firms solve business problems that require access to consistent, complete, and
reliable customer information such as customer profitability and risk analysis, omnichannel customer
experience, and service personalization.
Customer Profitability and Risk Analysis
Understanding customer profitability and risk across the enterprise is a critical component of effective
corporate account planning, strategic planning, and budget control. The same understanding at a
line of business or regional list is essential for improving account planning and resource allocation.
The traditional method of assessing profitability and risk involves designing, building, and populating
a data warehouse, then exposing the data to one or more analytics models for processing and
reporting. Any mobile component of the project has to be built separately.
A project like this could take months to build, tie up a great deal of resources, and incur high costs.
Due to the time taken and specificity of the project, reusability of the data is next to zero … once the
project is done, firms almost certainly have to start again for the next round of analysis. And, after all
that, the results might not even be reliable due to inconsistent or incomplete customer data derived
from multiple regional or line of business sources, including data warehouses, third party sources,
social intelligence, and other sources of enrichment. This is particularly troublesome when assessing
complementary factors, as decisions, simulations, and optimizations can only be accurate if the
underlying data is the same for both calculations.
NexJ CDM enables firms to create a single, consistent, and complete view of the customer once and
use it many times for projects. Because the information models are divorced from the technical details
of integrating data into the comprehensive customer view, firms can quickly and easily reuse existing
information models or define new ones for corporate, line of business, or regional customer
profitability and risk analysis projects. NexJ CDM will automatically deliver up-to-date, appropriately
provisioned customer data to the application that needs it. In addition, to optimize consistency, firms
can define hundreds of parameters according to the same data fields and expose them to teams to
select as required for their projects.
To ensure a complete understanding of customer risk and profitability, firms can use NexJ CDM’s
relationship modeling capabilities to define complex, multi-level hierarchies for customers and roll
data up across the enterprise. This eliminates the need for manual construction of hierarchies at the
corporate and line of business levels and improves the completeness of the customer data. With NexJ,
4©2016 NexJ Systems Inc.
hierarchies are easy to maintain and reusable for mobile, analytics, and any future projects leveraging
NexJ CDM. Corporate can use the hierarchies for profitability analysis, individual account teams can
use it to improve account planning, and multiple lines of business or regions can leverage it for joint
account planning.
Omnichannel Customer Experience
Customer expectations have changed a great deal in the past decade, as has the number of ways a
customer can interact with a firm. Regardless of the channel or user with which they interact,
customers expect a personalized, efficient experience that includes seamless transitions mid-
interaction. For example, when a customer starts an application on a website, and then calls the
contact center for clarification, the contact center must have access to all current customer
information, including where they left off in the application.
This requires a complete and consistent view of the customer, with real-time information delivered
to the applications, channels, and users that need it, when they need it. This is difficult to achieve with
massive amounts of disparate and often conflicting customer data stored in application and data silos
across regions and lines of business. Traditional solutions such as MDM solutions, data warehouses,
and ESBs each have their own challenges that prevent them from solving the problem. MDM’s strict
rules and smaller data set limit the timeliness and amount of data that can be provided to users. The
generic data sets delivered by data warehouses are too large to be effective for mobile channels. ESBs
require manual coding each time a new channel or application is added or data requirements change,
which is expensive and time-consuming.
By contrast, NexJ CDM enables firms to build a 360-degree view of the customer from comprehensive
customer information, including data stored in integrated systems, calculations, and streaming data
from external sources, such as social media and news feeds. It also caches customer data to ensure
responsiveness even when integrated systems are experiencing performance issues.
With NexJ CDM firms can define the precise information each channel, application, and user needs
and deliver consistent, real-time customer data to ensure a stellar customer experience and ensure
smooth handoffs of interactions in progress. This precise provisioning of data is particularly important
for mobile devices, whose limited memory capacity requires apps to work from a smaller data set to
maintain speed and responsiveness. Because NexJ CDM’s information models are reusable, firms can
quickly and easily add new channels and devices without disruption.
Service Personalization
Today’s customers don’t have a lot of time for generic customer service and marketing. They want
personalized support, with recommendations and service that reflect their needs and history with the
firm.
5
Better Understand Customers with NexJ Customer Data Management
BUSINESS BRIEF
©2016 NexJ Systems Inc.
To improve service personalization, firms must develop a 360-degree view of the customer, including
all historical and in-process transactions, expose it to predictive and prescriptive analytics, and share
the results and the view with the channels, applications, and users that need it.
Creating this 360-degree view typically requires firms to design, build, and populate a data
warehouse; do the same work for mobile components; define multiple analytics models; and expose
the data for decisioning. This level of work is expensive, time-consuming, and resource-intensive and
it’s typically not reusable. The ultimate irony is that project results are not always as reliable as needed,
due to inconsistent or incomplete customer data derived from multiple regional or line of business
sources, such as data warehouses, third party sources, social intelligence, and other sources of
enrichment. This calls the accuracy of decisions into question, particularly when assessing
complementary factors, as decisions, simulations, and optimizations can only be accurate if the
underlying data is the same for both calculations. It also leads to inconsistent recommendations as
decisions are based on different views of customer data.
NexJ CDM enables firms to create a single, consistent, and complete view of the customer once and
use it many times for projects. Firms can reuse existing information models or define new ones for
future service personalization or other projects. NexJ CDM will automatically deliver up-to-date,
appropriately provisioned customer data to the application that needs it. In addition, to optimize
consistency, firms can define hundreds of parameters according to the same data fields and expose
them to teams to select as required for their projects.
Not only are service personalization recommendations more reliable, but NexJ CDM delivers the 360-
degree view of data in appropriately provisioned data sets to the front-office applications and digital
channels that need it to ensure users have information that is consistent with recommended actions.
6©2016 NexJ Systems Inc.
SAMPLE USE CASES
NexJ CDM helps firms solve business problems that require access to consistent, complete, and
reliable customer information – data which is typically hard to access due to its storage in silos across
regions and lines of businesses. Projects that benefit from NexJ CDM include service personalization,
customer profitability and risk analysis, digitization initiatives such as omnichannel support, and
mobile enablement. These can typically be categorized into one of four project types:
 Enterprise data aggregation (360-degree customer view)
 Analytics projects (profitability, next best offer, propensity to churn, etc.)
 Customer segmentation (slicing and dicing the customer base into hierarchies)
 Compliance initiatives (auditing, archiving, monitoring)
How does NexJ CDM enable more consistent analytics results?
Analytics-based decisions are only as reliable and useful as the data that goes into them. For most
projects, customer data is derived from one or more data warehouses, third party sources, social
intelligence, and other sources of enrichment. Not only is the data scattered and potentially
inconsistent, but projects are unlikely to pull their data or define parameters in the exact same way.
This is particularly troublesome when assessing complementary factors such as lifetime value and
customer loyalty, where decisions, simulations, and optimizations can only be accurate if the
underlying data is the same for both calculations. NexJ CDM accommodates an unlimited number of
data fields so that firms can build a complete customer picture and enable analytics teams from across
the enterprise to derive their data from a consistent and comprehensive set of data. In addition, firms
can define hundreds of parameters according to the same data fields and expose them to teams to
select as required for their projects.
How does NexJ CDM help me segment my customer base to better understand groups for
projects such as customer profitability and customer loyalty programs?
NexJ CDM enables firms to define personal, professional, and ad hoc relationships for customers;
aggregate customer data stored in regional or line of business silos up each relationship hierarchy;
and pass it on the application that needs it. Customers can be associated with an unlimited number
of groups. Our customers typically use NexJ CDM to build:
 User hierarchies (e.g. managerial aggregations for salesforce optimization or territory
reviews)
 Corporate hierarchies (e.g. ownership or legal structures)
 Reference data hierarchies (e.g. Legal Entity Identifiers, regions, units of measure, or
customer tiers)
7
Better Understand Customers with NexJ Customer Data Management
BUSINESS BRIEF
©2016 NexJ Systems Inc.
Examples include determining the amount of debt a customer holds across the enterprise prior to
approving a credit application, or determining customer profitability across all lines of business and
regions.
How does NexJ CDM support enterprise compliance?
Firms are under a great deal of pressure to comply with strict requirements for data auditing,
monitoring, archiving, and residency. Managing and reporting on these requirements is time
consuming and error-prone when data is stored in islands.
NexJ CDM provides configurable business rules and services to audit, monitor, and archive data. It
also provides a centralized source of customer data to enable an enterprise-wide understanding of
the customer and simplify monitoring. With NexJ CDM, firms can:
Track information changes and access to data in any integrated system
 Archive data to back-office data stores and archival storage mediums at defined
intervals
 Store historical snapshots of data at appropriate intervals for comparison purposes
 Monitor data and notify administrators when a pre-defined set of words and phrases
are encountered within integrated systems
 Augment workflows with holistic customer data to meet complex regulatory
monitoring requirements such as anti-money laundering and anti-terrorism
NexJ Systems Inc.
10 York Mills Road, Suite 700,
Toronto, Ontario M2P 2G4
P: (416) 222-5611 F: (416) 222-8623
info@nexj.com www.nexj.com
About NexJ Systems
NexJ provides enterprise customer management solutions to the financial services and
insurance industries. NexJ’s solutions include industry-specific customer relationship
management (CRM) to enable collaboration across countries, regions, teams, and
product specialists; customer process management (CPM) for client onboarding with
KYC and AML for regulatory compliance; and customer data management (CDM) to
support digital transformation and customer analytics across all channels of
interaction. Our solutions integrate information from multiple systems into a unified
view of the customers to help firms better understand and share information to
increase loyalty, drive cross-sell, and collaborate to improve the customer experience.
Copyright © 2016 NexJ Systems Inc. All rights reserved. NexJ and the NexJ logo are either trademarks or
registered trademarks of NexJ Systems Inc. All trademarks are the property of their respective owners. 04/18/16
White Paper

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NexJ CDM Overview: Better Understand Customers with NexJ Customer Data Management

  • 1. Business Brief Better Understand Customers with NexJ Customer Data Management
  • 2. 1 Better Understand Customers with NexJ Customer Data Management BUSINESS BRIEF ©2016 NexJ Systems Inc. In today’s market, many companies are undergoing transformation to get closer to prospects and customers and strengthen relationships. These key data transformational initiatives tend to be stalled in a backlog queue, stymied by rising implementation costs or struggling for alignment between the currents of enterprise governance and business unit agility. Establishing a complete and reliable view of your data is the critical success factor to enable a transformation. Traditionally, this has created back-office project dependencies which delayed execution; created requirements for costly system replacements, retirements or upgrades which increased costs; or created additional processing directives to enforce enterprise standards. Application and data silos throughout the company hold different types of customer data, such as holdings, transactions, or billing, and sometimes conflicting versions of the same type of data (e.g. legal name, preferred name, maiden name). Data is moving faster than ever and it’s quick to degrade in quality or age out completely. Traditional approaches to integrating data into a single, up-to-date view of the customer are expensive and provide diminishing performance at the scale required for a large enterprise. How do you cut through all the noise to improve service personalization, conduct customer profitability analysis, or deliver a superior omnichannel experience? NexJ Customer Data Management (CDM) was designed to overcome these challenges. Its unique design enables firms to define and deliver meaningful information in engagement, processing, and assessment contexts to cost-effectively increase business agility, resiliency, and operational efficiency. With NexJ CDM, firms can create a trusted 360-degree view to solve business problems that require access to consistent, complete, and reliable customer information. Firms can construct a 360-degree view by defining the fields that comprise it and the master data source for each, integrate with enterprise data sources, and deliver the precise information needed by each line of business, application, and user, in the context in which they need it. NexJ CDM Benefits Lower Total Cost of Ownership  ‘Model once, deliver many times’ design ensures cost-effective delivery of the right data at the right time  Pre-built software replaces manual coding requirements  Durable design reduces rebuild and maintenance costs  Less need for specialized resources Greater Agility  Build a 360-degree customer view without forcing back- and front-office systems to change  Add or retire applications or projects quickly and without business disruption  Change data requirements as needed without long wait for IT resources Increased Responsiveness  Maintain performance at scale with flexible design for enterprise information delivery  Buffer the business against downtime by leveraging cached data  Pre-calculate data for end users Clean, Complete Data  Create a meaningful, consistent, and accurate 360-degree customer view from disparate, and potentially conflicting, data  Provide end users with the precise information they need, in the right context
  • 3. 2©2016 NexJ Systems Inc. NexJ CDM manages, aggregates, and delivers integrated customer data for business consumption to:  Front-office applications – These solutions need access to quickly changing information from one or more back-office systems. To be effective, applications need to receive the most up-to-date information, in the context in which they need it.  Mobile applications – Due to the limited memory capacity of mobile devices, apps need to work from a smaller set of very specific data to maintain speed and responsiveness.  Master Data Management (MDM) solutions – To maintain a ‘gold’ or official master copy of data, MDM solutions need to be notified in a timely manner of data changes for processing, approval, and update.  Analytics projects – To produce reliable results, analytics projects need to be based on clean, consistent data and parameters. Unlike other integration solutions and data sources such as Enterprise Service Buses (ESBs), data warehouses, or MDM solutions, NexJ CDM:  Includes a semantic model that enables firms to:  Ingest customer data from integrated sources and aggregate it into a single, complete record of the contact  Rollup customer data along flexible user-managed hierarchies  Pre-provision common calculations  Cache customer data to ensure applications and users have reliable data even when integrated systems are down  Store historical snapshots for change history and analytics  Builds a 360-degree view of the customer from comprehensive customer information, including data stored in integrated systems and streaming data from external sources, such as social media and news feeds. It also performs calculations required by applications and users to rapidly provide current data.  Enables firms to build data sets (information models) organically and evolutionarily. These reusable information models can be used to deliver the exact customer data required to new applications or projects, in the context it is required, without any downtime or waiting for available resources.  Eliminates the disruption of adding or retiring front-end and back-office solutions and launching or changing projects such as analytics or mobile app delivery. Because NexJ CDM divorces the comprehensive customer view from the interfaces that deliver the data to end users, firms do not need to build interfaces from scratch each time a solution or project changes or use a single, generic interface that dumps massive amounts of data into applications.
  • 4. 3 Better Understand Customers with NexJ Customer Data Management BUSINESS BRIEF ©2016 NexJ Systems Inc.  Reduces reliance on IT resources by automating work required for data migration, conversion, and data loads (such as design, testing, validation) and reusing information models and interfaces to reduce maintenance and the need for expensive rebuilds How NexJ CDM Helps NexJ CDM helps firms solve business problems that require access to consistent, complete, and reliable customer information such as customer profitability and risk analysis, omnichannel customer experience, and service personalization. Customer Profitability and Risk Analysis Understanding customer profitability and risk across the enterprise is a critical component of effective corporate account planning, strategic planning, and budget control. The same understanding at a line of business or regional list is essential for improving account planning and resource allocation. The traditional method of assessing profitability and risk involves designing, building, and populating a data warehouse, then exposing the data to one or more analytics models for processing and reporting. Any mobile component of the project has to be built separately. A project like this could take months to build, tie up a great deal of resources, and incur high costs. Due to the time taken and specificity of the project, reusability of the data is next to zero … once the project is done, firms almost certainly have to start again for the next round of analysis. And, after all that, the results might not even be reliable due to inconsistent or incomplete customer data derived from multiple regional or line of business sources, including data warehouses, third party sources, social intelligence, and other sources of enrichment. This is particularly troublesome when assessing complementary factors, as decisions, simulations, and optimizations can only be accurate if the underlying data is the same for both calculations. NexJ CDM enables firms to create a single, consistent, and complete view of the customer once and use it many times for projects. Because the information models are divorced from the technical details of integrating data into the comprehensive customer view, firms can quickly and easily reuse existing information models or define new ones for corporate, line of business, or regional customer profitability and risk analysis projects. NexJ CDM will automatically deliver up-to-date, appropriately provisioned customer data to the application that needs it. In addition, to optimize consistency, firms can define hundreds of parameters according to the same data fields and expose them to teams to select as required for their projects. To ensure a complete understanding of customer risk and profitability, firms can use NexJ CDM’s relationship modeling capabilities to define complex, multi-level hierarchies for customers and roll data up across the enterprise. This eliminates the need for manual construction of hierarchies at the corporate and line of business levels and improves the completeness of the customer data. With NexJ,
  • 5. 4©2016 NexJ Systems Inc. hierarchies are easy to maintain and reusable for mobile, analytics, and any future projects leveraging NexJ CDM. Corporate can use the hierarchies for profitability analysis, individual account teams can use it to improve account planning, and multiple lines of business or regions can leverage it for joint account planning. Omnichannel Customer Experience Customer expectations have changed a great deal in the past decade, as has the number of ways a customer can interact with a firm. Regardless of the channel or user with which they interact, customers expect a personalized, efficient experience that includes seamless transitions mid- interaction. For example, when a customer starts an application on a website, and then calls the contact center for clarification, the contact center must have access to all current customer information, including where they left off in the application. This requires a complete and consistent view of the customer, with real-time information delivered to the applications, channels, and users that need it, when they need it. This is difficult to achieve with massive amounts of disparate and often conflicting customer data stored in application and data silos across regions and lines of business. Traditional solutions such as MDM solutions, data warehouses, and ESBs each have their own challenges that prevent them from solving the problem. MDM’s strict rules and smaller data set limit the timeliness and amount of data that can be provided to users. The generic data sets delivered by data warehouses are too large to be effective for mobile channels. ESBs require manual coding each time a new channel or application is added or data requirements change, which is expensive and time-consuming. By contrast, NexJ CDM enables firms to build a 360-degree view of the customer from comprehensive customer information, including data stored in integrated systems, calculations, and streaming data from external sources, such as social media and news feeds. It also caches customer data to ensure responsiveness even when integrated systems are experiencing performance issues. With NexJ CDM firms can define the precise information each channel, application, and user needs and deliver consistent, real-time customer data to ensure a stellar customer experience and ensure smooth handoffs of interactions in progress. This precise provisioning of data is particularly important for mobile devices, whose limited memory capacity requires apps to work from a smaller data set to maintain speed and responsiveness. Because NexJ CDM’s information models are reusable, firms can quickly and easily add new channels and devices without disruption. Service Personalization Today’s customers don’t have a lot of time for generic customer service and marketing. They want personalized support, with recommendations and service that reflect their needs and history with the firm.
  • 6. 5 Better Understand Customers with NexJ Customer Data Management BUSINESS BRIEF ©2016 NexJ Systems Inc. To improve service personalization, firms must develop a 360-degree view of the customer, including all historical and in-process transactions, expose it to predictive and prescriptive analytics, and share the results and the view with the channels, applications, and users that need it. Creating this 360-degree view typically requires firms to design, build, and populate a data warehouse; do the same work for mobile components; define multiple analytics models; and expose the data for decisioning. This level of work is expensive, time-consuming, and resource-intensive and it’s typically not reusable. The ultimate irony is that project results are not always as reliable as needed, due to inconsistent or incomplete customer data derived from multiple regional or line of business sources, such as data warehouses, third party sources, social intelligence, and other sources of enrichment. This calls the accuracy of decisions into question, particularly when assessing complementary factors, as decisions, simulations, and optimizations can only be accurate if the underlying data is the same for both calculations. It also leads to inconsistent recommendations as decisions are based on different views of customer data. NexJ CDM enables firms to create a single, consistent, and complete view of the customer once and use it many times for projects. Firms can reuse existing information models or define new ones for future service personalization or other projects. NexJ CDM will automatically deliver up-to-date, appropriately provisioned customer data to the application that needs it. In addition, to optimize consistency, firms can define hundreds of parameters according to the same data fields and expose them to teams to select as required for their projects. Not only are service personalization recommendations more reliable, but NexJ CDM delivers the 360- degree view of data in appropriately provisioned data sets to the front-office applications and digital channels that need it to ensure users have information that is consistent with recommended actions.
  • 7. 6©2016 NexJ Systems Inc. SAMPLE USE CASES NexJ CDM helps firms solve business problems that require access to consistent, complete, and reliable customer information – data which is typically hard to access due to its storage in silos across regions and lines of businesses. Projects that benefit from NexJ CDM include service personalization, customer profitability and risk analysis, digitization initiatives such as omnichannel support, and mobile enablement. These can typically be categorized into one of four project types:  Enterprise data aggregation (360-degree customer view)  Analytics projects (profitability, next best offer, propensity to churn, etc.)  Customer segmentation (slicing and dicing the customer base into hierarchies)  Compliance initiatives (auditing, archiving, monitoring) How does NexJ CDM enable more consistent analytics results? Analytics-based decisions are only as reliable and useful as the data that goes into them. For most projects, customer data is derived from one or more data warehouses, third party sources, social intelligence, and other sources of enrichment. Not only is the data scattered and potentially inconsistent, but projects are unlikely to pull their data or define parameters in the exact same way. This is particularly troublesome when assessing complementary factors such as lifetime value and customer loyalty, where decisions, simulations, and optimizations can only be accurate if the underlying data is the same for both calculations. NexJ CDM accommodates an unlimited number of data fields so that firms can build a complete customer picture and enable analytics teams from across the enterprise to derive their data from a consistent and comprehensive set of data. In addition, firms can define hundreds of parameters according to the same data fields and expose them to teams to select as required for their projects. How does NexJ CDM help me segment my customer base to better understand groups for projects such as customer profitability and customer loyalty programs? NexJ CDM enables firms to define personal, professional, and ad hoc relationships for customers; aggregate customer data stored in regional or line of business silos up each relationship hierarchy; and pass it on the application that needs it. Customers can be associated with an unlimited number of groups. Our customers typically use NexJ CDM to build:  User hierarchies (e.g. managerial aggregations for salesforce optimization or territory reviews)  Corporate hierarchies (e.g. ownership or legal structures)  Reference data hierarchies (e.g. Legal Entity Identifiers, regions, units of measure, or customer tiers)
  • 8. 7 Better Understand Customers with NexJ Customer Data Management BUSINESS BRIEF ©2016 NexJ Systems Inc. Examples include determining the amount of debt a customer holds across the enterprise prior to approving a credit application, or determining customer profitability across all lines of business and regions. How does NexJ CDM support enterprise compliance? Firms are under a great deal of pressure to comply with strict requirements for data auditing, monitoring, archiving, and residency. Managing and reporting on these requirements is time consuming and error-prone when data is stored in islands. NexJ CDM provides configurable business rules and services to audit, monitor, and archive data. It also provides a centralized source of customer data to enable an enterprise-wide understanding of the customer and simplify monitoring. With NexJ CDM, firms can: Track information changes and access to data in any integrated system  Archive data to back-office data stores and archival storage mediums at defined intervals  Store historical snapshots of data at appropriate intervals for comparison purposes  Monitor data and notify administrators when a pre-defined set of words and phrases are encountered within integrated systems  Augment workflows with holistic customer data to meet complex regulatory monitoring requirements such as anti-money laundering and anti-terrorism
  • 9. NexJ Systems Inc. 10 York Mills Road, Suite 700, Toronto, Ontario M2P 2G4 P: (416) 222-5611 F: (416) 222-8623 info@nexj.com www.nexj.com About NexJ Systems NexJ provides enterprise customer management solutions to the financial services and insurance industries. NexJ’s solutions include industry-specific customer relationship management (CRM) to enable collaboration across countries, regions, teams, and product specialists; customer process management (CPM) for client onboarding with KYC and AML for regulatory compliance; and customer data management (CDM) to support digital transformation and customer analytics across all channels of interaction. Our solutions integrate information from multiple systems into a unified view of the customers to help firms better understand and share information to increase loyalty, drive cross-sell, and collaborate to improve the customer experience. Copyright © 2016 NexJ Systems Inc. All rights reserved. NexJ and the NexJ logo are either trademarks or registered trademarks of NexJ Systems Inc. All trademarks are the property of their respective owners. 04/18/16 White Paper