RichRelevance's new Build offering provides the company’s customers with “building blocks” that they can use based on the needs of each of their applications:
- A Data Hub that stores retailer data in a single place and makes it available in the cloud so that it can be distributed to websites, mobile apps, kiosks, and other applications.
- A Profiles API for accessing detailed customer data, such as purchase history and preferences.
- A Segments API that gives retailers the ability to segment their customers based on behavior and interests.
- A Product Affinities API that can be used to determine the relationships that exist between products.
- A Real-Time Events Stream that makes it possible for retailers to track and take action based on events as they occur in multiple channels.
RichRelevance, which counts more than 200 global retailers as clients and tracks over a billion purchasing decisions each day, says that Build has a lot to offer across functions within retail organizations. For instance, marketing applications built on Build could be used to address abandonment, optimize digital marketing campaigns, and surface local sales trends. And customer service applications that are integrated with Build could enable store associates to make better recommendations to customers by giving them access to customer profiles.
For IT departments, which may be tasked with building these applications or integrating various data sources with third party applications, RichRelevance believes its cloud platform can “reduce risks of runaway costs or timelines.”
Companies are API-ready
RichRelevance’s launch of an API suite highlights the fact that a growing number of large companies are now ready and able to make third party APIs an integral part of their businesses. Even just a few short years ago, it was not uncommon to see companies with significant development budgets and staffs unable or hesitant to adopt third party APIs in a major way. The reasons varied. From outdated legacy applications that have since been replaced to concerns over the security of storing data in the cloud, many of the barriers to adoption have now been addressed.
This paves the way for providers like RichRelevance to API-ify their offerings and for companies to imagine a new way of delivering new capabilities for their organizations. With this in mind, it’s possible that the biggest wave of enterprise API adoptions may just be beginning.