Increase Revenue With Predictive Intelligence

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INCREASE REVENUE WITH PREDICTIVE INTELLIGENCE
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The power to accurately predict has helped people
gain an edge in business, in politics, and in
life in general. It's traditionally been very
hard to do, more art or magic than science but
in recent years, that is changing. The rise of
big data and machine learning has led to
methodologies that can be applied in all kinds of
scenarios. Often called "predictive intelligence"
or "predictive analytics," these methodologies
have been applied to more accurately predict the
weather, financial markets, elections... even the
building of a competitive baseball
team. Predictive intelligence is based on
observation of customer behaviour and, with every
action taken, the building of a profile of
customer preferences. That information is then
used to anticipate customer wants and needs and
predict which content would be the best to
deliver in real time across any channel. The
Rise of Predictive Intelligence in eCommerce A
key goal in eCommerce is improving the customer
shopping experience by making it more engaging
and relevant to users. To achieve this, there
needs to be an understanding of user intent.
Online retailers are increasingly using
predictive intelligence to reach this
goal. Personalization is essential for brands to
meet their consumers' expectations of a unique,
customized experience without a lot of work.
Companies leveraging the use of data and
predictive intelligence to develop a better
understanding of their customers and to provide a
tailored, yet scalable user experience is
becoming the norm. Predictive intelligence in
eCommerce takes many forms, such as a product
recommendation engine which can analyze a
consumer's purchase history and online behavior.
With this data, the product recommendation engine
determines the user's intent-to-purchase to
provide a tailored experience to the user. The
goal is twofold customer retention and sales
conversion. As an example of the potential power
of this tool, Amazon's recommendation engine
drives 35 percent of its revenues. Transparency
Market Research forecasts that the overall market
for predictive analytics will reach 6.5 billion
by 2019, up from 2 billion in 2012. According
to Salesforce, a benchmark survey found that
companies using predictive intelligence saw
increases of 10 percent in website revenue, 35
percent in email click-through rates, and 25
percent on email conversion rates.
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Instart Logic's Predictive Intelligence
Solution As an IBM WebSphere Commerce and IBM
Commerce on Cloud partner, Instart Logic
understands the role of predictive intelligence
online. Fast-loading websites are crucial to
creating an enjoyable user experience. Combining
IBM's Performance and Security Suite with Instart
Logic's services, customers have reduced their
load times in half. Consumers expect a
quick-loading, relevant, customized online
shopping experience. Predictive intelligence
helps achieve the relevance goal, but how does it
improve performance? Instart Logic's Multi-page
Predictive Prefetching solution provides the
ability to predict what pages a user will
navigate to next and optimize delivery of those
pages preloading the content they are most likely
to request. The goal is to provide a great
customer experience by removing performance
issues that may lead to shopping cart
abandonment. We leverage our unique client-side
architecture, using machine learning algorithms
to collect and analyze information from real user
interactions to predict the pages a user will
visit next. With this knowledge, a retailer can
speed up their page load time, thereby improving
the user experience and conversions. Lack of
data can be a challenge for companies that are
new to predictive intelligence. With our
solution, we collect all the data, perform the
analysis, and provide the page prediction. In
other words, we do all of the heavy lifting for
you. The incredible amount of available data has
created the perfect opportunity to meet customer
demand. What's more, customers have come to
expect this type of relevance and speed from
online retailers. In today's world of eCommerce,
predictive intelligence has evolved from a
nice-to-have feature into a must-have tool.
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Instart Logic is the worlds first endpoint-aware
application delivery solution that makes websites
and applications fast, secure, and easy to
operate.
Interested in learning more? Preview our image
optimization capabilities in the Playground
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