What is recommender model?
An AI model is an efficient means of streamlining your sales process and customer experience. Our recommender model combines sales forecasting, collaborative filtering, and product success classification. It will maximize the likelihood of completing a sale in a way which benefits you and the customer or client, bringing tangible business value.
3 facts about the solution
- The model is based on historic interactions with customers
- Allows sales to predict which of their customers or clients are likely to be interested in particular products, and better target who is sent which pieces of research or offered a specific product
- Insights from the prediction can indicate how offerings are further developed or how communication strategies should be altered
Discover the value of a AI–driven recommender model
Customers’ average basket size (EUR):
Number of customers:
Avg upsell opportunity (EUR):
With an AI model, you can:
Increase basket size (EUR)
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Generate value (EUR)
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Assumptions (click to expand)
Avg probability of product to customer fit (%)
Our solution
We offer a variety of standard models which are ready to be fitted to your data. The model is a combination of three machine learning models: sales forecasting, collaborative filtering, and product success classification. Individually, they help forecast, suggest product recommendations, and help define why a product might be successful. Used together, they create a robust overall prediction engine.
The business outcome
Using a recommender model allows you to best direct a customer’s attention during the sales process. Offering them a product or service that the customer is most likely to be interested increases the likelihood of a sale, and provides a streamlined customer experience. Furthermore, you will gain useful insights that could help you shape your overall business intelligence strategy.
Interested in taking AI into production?
If you think this model would be relevant for your organization, please take the plunge and book a demo. We would love to help you get started. Alternatively, you can download our GRACE brochure for more information.