Recommender Systeme
Customer-specific product recommendations are real revenue drivers. AI-based recommender systems help companies suggest the right offers to their customers, thereby increasing revenue and customer satisfaction.
With Recommender Systems, you suggest the right products to your customers
Challenge
Customer-specific content and offers are of utmost importance for successful marketing and sales strategies. Deciding which content or offers to place where is highly relevant to purchasing decisions and customer satisfaction. Often, offers are still manually selected and then distributed to all customers or specific customer segments.
Approach
By using your data and deploying AI, you can suggest exactly the products, product configurations, or content that match your customers' needs. These recommendations are generated by applying an AI-based recommender system that identifies patterns along the purchase history, purchase behavior, and customer characteristics, translating them into personalized suggestions. To create such a recommender system, shopping baskets, historical transaction data, and customer master data are typically used. Recommendations can be generated in real-time (e.g., for online shops) or in batches (e.g., for static customer data).
Result
Applying recommender systems enables significantly more precise and individualized content and offers. This is reflected in a substantial increase in the purchase probability and, consequently, sales. Furthermore, recommender systems can be used to generate insights into your customers' purchasing behavior.
Our strength
Our ecosystem enables a holistic view of data & AI.
years of experience in Data Science, ML, and AI
clients from 10 industries and growing
experts from more than 17 fields of study
successfully implemented Data and AI projects
How Recommender Systems work
Recommender systems learn the product preferences of your customers based on historical behaviors and characteristics. The learned patterns are then used to suggest the products or product configurations with the highest purchase probability.
Benefits of AI-based Recommender Systems
With Data Science and artificial intelligence, companies can recommend individually personalized products to their customers.
Recommender systems often shorten the time-consuming search for the right product and also present interesting alternatives.
Personalized product recommendations increase sales, revenue, and profit for companies.
Reliable recommender systems have the potential to largely automate offer planning.
Interested? Let's talk!
Discuss your challenges and goals in the area of Data & AI with us.
Receive a customized and transparent offer.
We present our approach to all relevant stakeholders.
Our dedicated project team takes care of your needs.
