Exceptional Technologies behind our remarkable services
RetailReco serves the ‘Power of Five’ by bringing together the robust and reliable technologies of Artificial Intelligence, Big Data, Predictive Analytics, Machine Learning and RFM Analytics. Through their efficient use, Our Product Suite offers the best-in-industry personalization and campaigning solutions to drive more traffic on your online store and leverage revenue and profits.
Big Data-driven Artificial Intelligence
Our Big Data backed AI impacts every aspect of a brand’s ecommerce, whether it is content presentation, customer service, accurate recommendations or increased profits.
Using AI to analyze customer behavior aids in creating hyper-personalized user experience, a revolution that RetailReco efficiently offers. AI helps to build better relationships with customers by implementing dedicated marketing strategies.
It takes the guesswork out of the scenario and simplifies the process for better returns.
Predictive analytics is the method to obtain information from existing data sets in order to predict the future possibilities.
Predictive models are used to analyze historical and present data in order to understand the customer-product relationship and figure out the profitable sales plan.
Predictive analytics uses impactful techniques like Data mining, Statistical Modeling and Machine Learning to help businesses make more profits by envisioning the future opportunities.
Machine Learning is a branch of data analysis that automates analytical model building and allows computers to learn without or with a little human intervention.
It is a branch of A.I in which the system can learn from data, and by the identification of patterns; it assists in decision making.
The primary feature of Machine Learning is that it learns by itself and needs no explicit programming.
The basic concept of machine learning is to build algorithms that can receive input data and predict an output, in addition to the continuous update of outputs as new data becomes available.
Natural Language Processing
Natural language processing (NLP) is the function of a computer program to understand human language. It is a component of Artificial Intelligence (AI).
Computers basically require input in a programming language that is precise and highly structured, yet with the introduction of Natural Language Processing, computers can understand the natural human language regardless of structure,
complex variables and social context. NLP aims at providing Human level understanding of language to computers.
RFM is the abbreviated form of Recency, Frequency, and Monetary Value. Recency (R) refers to the number of days or months since the last purchase was made by a customer.
Frequency (F) denotes the number of purchases in a certain time period, while Monetary Value (M) refers to the total amount of money spent by a customer during a specific period of time.
Using RFM indices helps in the formation of customer segments by identifying a group of customers who share similar characteristics.
By creating customer segments, a store provides customized product promotions to those who are interested in them and enhances sales possibilities.