Next Best Product Recommendation
With CyborgIntell, you can address this complex problem by navigating through enormous amounts of data across multiple channels to understand customer intent and need, and recommend personalized offers at the right time. iTuring AutoML delivers highly accurate models that not only predict the customer’s buying intent but also sensitivity to price, thereby ensuring that you offer the products at the price at which the customer is willing to buy.
A leading financial institution used iTuring to build “Next Best Product Recommendation” model to increase product sales and improve customer experience. 4500+ features were automatically engineered to develop multiple machine-learning models to recommend the right product at the right price and at the right time. This recommendation was integrated to their CRM system to make personalized recommendations to customers across multiple touch points. This resulted in a 14% increase in revenue and improved customer satisfaction score by 17%.
Time to Deployment
iTuring makes highly accurate recommendations based on need and intent of customers to buy a product. Further, iTuring’s Integrated AI helps implement the decision rules using propensity to buy score and price sensitivity. This allows businesses to better understand their customers and offer the right product, at the right price, at the right time.