Medallia Inc (NYSE:MDLA) Q2 2020 Earnings Conference Call Transcript
Sep 05, 2019 • 01:30 pm ET
our market opportunity. Let me first talk about the need for Medallia. Customer experience is at the center of digital transformation. I believe this to be the number one priority of organizations across the globe. The need for Medallia comes from a wholesale transfer of power to customers. Today, consumers, patients, citizens all have the power to par with organizations that sell or provide services to render the best experiences.
Organizations that recognize this and -- increase loyalty and can achieve better results. To enable this collaboration in the moment, Medallia has created a new category of enterprise software, customer experience management and we are the market leader. Medallia helps companies manage experiences on a massive scale with robust platform security and reliability and deep customer experience domain knowledge. Our platform captures experience data from a massive and expanding signal field, beyond the traditional post experience survey. And then we use our proprietary machine learning technology to analyze structured and unstructured data to explore vital experienced things and to deliver powerful and specific predictive insights that drive impactful actions to the right people, at the right time.
Using our technology, enterprises can reduce customer churn and churn detractors into promoters. With Medallia, companies can create immediate cross-sell and up-sell opportunities and generate significant returns on investment. What sets us apart? Capturing feedback through a post experienced survey is always important, but it is only one dimension of what we do. Today, enterprises seek to understand the behavior in terms of all customers, not just those that answer survey questions. The best brands expect technology to play a major role in capturing all of the signals emitted by consumers and customers, patients and citizens as I said. So text messages, social media interactions, WhatsApp, WeChat, transactional information, phone calls and voice messages, all combined to not only capture customer sentiment, but not the many and varied customer journeys across all moments that matter.
Performing predictive analysis and generating invaluable insights is central to this technology approach. Creating powerful action agendas is possible and such action agendas can be distributed to the right people at the right time, with speed and accuracy, to mitigate customer loss or act on cross-sell and up-sell opportunities for example. To do this scale, whilst maintaining a high level of privacy and security requires a robust platform approach. We've invested over 10 years in building our platform, a platform with a proprietary patented and memory analytics engine, that makes real time analysis of massive amounts of data possible. We believe this level of investment, domain knowledge and processing of massive amounts of data is unrivaled and that our platform is the most scalable, most secure and most performance machine learning customer experience platform in the industry. It's this technology that enables Medallia to operationalize all aspects of the customer experience processes. As such Medallia's platform has helped transform many of the world's iconic brands and we believe our platform is mission critical.
Let me talk about the