All Processes in Real-Time
Today, the most sophisticated recommendation and personalization engines rely on lengthy data collection phases consisting of processing and analyzing data, and then calculate targeted recommendations only after the customer is long gone. This classical method is time-consuming and ineffective, mostly because customers are no longer engaged in buying from you after having left your site. Segmentify’s advanced and innovative recommendation engine fills this gap by generating on-the-spot recommendations, while the customers are still online and ready to buy.
On average, a potential customer remains on a website for 2.5 minutes and checks 10 products and 2 campaigns during a visit to an online store. An efficiently functioning recommendation algorithm has to be able to analyze the online behavior pattern of a user in this short – timeframe and combine the most relevant products and campaigns for the user. Otherwise, that visitor would be easily lost to another competitor. This is why having an algorithm that works in real-time is one of the crucial key points of running an online store.
Segmentify’s leading recommendation engine eliminates the time issue by learning the user’s behavior in seconds. This is possible with real-time updates to underlying customer scoring and segmentation system. With every visitor information about page views, clicks, purchases, the Segmentify updates not only segment and score that specific visitor, but they also recalculate the overall weight of each dimension to create recommendation models. These models are based on the average time on page, pageviews per session, average basket size, etc. This leads to getting higher values from click-stream. Each visitor action updates the customer model and scoring, and Segmentify’s engine returns the recommended products and campaigns for the visitor in real-time
In span of days, Segmentify recommendations can match classical recommendation engines and outrun them with quick feedback loops from visitors. With real-time recommendation model, Segmentify can offer the right products to the right customers at the right time, which results in higher conversion rates and a significant boost in sales.