(By Balaseshan) International Business Machines Corp. (NYSE:IBM) is extending its smarter commerce initiative by adding qualitative customer experience analytics capabilities through a definitive agreement to buy Tealeaf Technology for an undisclosed sum.
Tealeaf will extend IBM's leadership in Smarter Commerce by giving companies qualitative web and digital analytics capabilities, allowing them to capture and replay a customer's web and mobile interactions to provide a more granular and richer view of a customer's experience.
Tealeaf will be integrated into IBM's Enterprise Marketing and Management (EMM) Group, which includes previously acquired assets from Coremetrics, Unica and DemandTec. IBM has invested more than $3 billion in building its Smarter Commerce initiative, a key driver of growth and profitability.
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IBM said the qualitative analytics capabilities will provide chief marketing officers (CMOs), e-commerce and customer service professionals with real-time and automated insights into online customer buying experiences across online and mobile devices.
Tealeaf is a provider of customer experience analytics software that helps organizations to gain intelligence and react more swiftly to consumer trends in today's digitally transformed marketplace. Tealeaf has over 450 customers worldwide including 30 of the Fortune 100 companies.
The new digital marketplace requires companies to be highly responsive to their customers' behaviors in order to both compete and grow. The opportunity to better understand a customer's experience on websites and mobile devices presents a major competitive advantage for businesses.
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Tealeaf provides a full suite of customer experience management software, which records and analyzes a customer's website and mobile interactions. As a result, marketers can spot patterns and address issues in website and mobile application design and provide a more streamlined online customer experience that leads to improved revenue, customer satisfaction, customer service productivity, and profitability.
IBM is trading up 0.01% at $208.03 on Wednesday. The stock has been trading between $157.13 and $210.69 for the past 52 weeks.