The News: At Dreamforce last week, Salesforce announced Salesforce Genie, a real-time data platform that powers Customer 360. Companies can connect all data sources into one single source of truth and empower every department to create unparalleled customer experiences, all in real time. Read the announcement from Salesforce.
Salesforce Genie Ready to Turn CRM into Data Powerhouse
Analyst Take: Customer experience was front and center at Dreamforce last week with Salesforce Genie likely being the biggest announcement of the annual conference. Salesforce Genie is a data integration layer that will work with Salesforce Customer 360 to move data exactly where companies need it.
Companies are creating and collecting an unprecedented amount of customer data today. And customers expect every interaction — whether online, in-store, or in an app — to be tracked and readily accessible. But until now, most of that data sat in siloed systems untouched. Salesforce Genie is looking to fix that problem by pooling and harmonizing data, as the announcement put it, into a clearly reconciled, comprehensive customer portrait.
Working With Salesforce Tools and Partners
Salesforce Genie works with tools across the entire Salesforce portfolio with the aim of developing greater loyalty and trust. With Einstein AI and Flow automations, organizations can automatically mine customer profiles for insights, powering engagements and actions that will likely develop greater customer loyalty. Genie runs on Hyperforce, Salesforce’s public cloud with built-in data ethics and governance standards ensuring data security, which will ultimately build customer trust.
The new program, which has been in testing for some time, also works with several partner applications and programs like Amazon’s SageMaker, Meta Ads, and several others. Salesforce is making it easy for companies to turn their CRMs into data powerhouses that can drive business growth, at a time when it’s needed most.
Salesforce Continues the Growth Trend
Salesforce ended last quarter on a high note with record revenue. But despite tempered guidance, due in large part to extended sales cycles as a result of the looming recession, I think that the growth trend is going to continue through the next fiscal year. The company expects to earn over $50 billion in revenue by 2026 and I think Genie is being counted in as a meaningful accelerator to reaching those ambitious goals. If it meets its marketing promise, I expect Genie to be a powerful tool that will really make Salesforce CRM a data powerhouse. And at a time when customer experience matters more than ever, Salesforce Genie is well positioned to meet the challenges companies face to deliver experiences in real-time with massive data at their disposal.
Disclosure: Futurum Research is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of Futurum Research as a whole.
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Image Credit: Salesforce
The original version of this article was first published on Futurum Research.
Daniel Newman is the Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Living his life at the intersection of people and technology, Daniel works with the world’s largest technology brands exploring Digital Transformation and how it is influencing the enterprise. From Big Data to IoT to Cloud Computing, Newman makes the connections between business, people and tech that are required for companies to benefit most from their technology projects, which leads to his ideas regularly being cited in CIO.Com, CIO Review and hundreds of other sites across the world. A 5x Best Selling Author including his most recent “Building Dragons: Digital Transformation in the Experience Economy,” Daniel is also a Forbes, Entrepreneur and Huffington Post Contributor. MBA and Graduate Adjunct Professor, Daniel Newman is a Chicago Native and his speaking takes him around the world each year as he shares his vision of the role technology will play in our future.