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Artificial Intelligence platform for marketing personalization based on context-aware recommender systems for eCommerce, retail and tourism

Country of Origin: Spain
Reference Number: TOES20180419002
Publication Date: 19 April 2018

Summary

A Spanish technology centre based in Barcelona has developed an artificial intelligence platform which provides context personalized recommendations on mobile apps and web portals in-real time to the customer. These recommendations are targeting each user individually and have been proved to improve turnover by 15-20%. The centre is looking for a commercial agency agreement with technical assistance or license agreement with an eCommerce or a partner focused on IT services.

Description

A Spanish technology centre based in Barcelona, specialized in applied research & innovation to foster competitiveness of companies, has developed an artificial intelligence platform for marketing personalization based on context-aware recommender systems for eCommerce, retail and tourism sectors.

The product is based on an innovative use of big data, artificial intelligence and machine learning technologies. It provides a customized and a unified marketing experience by sending relevant information to the user based on an omnichannel concept. In order to do so, it analyses information about the customer’s digital context: mobile profile, localization, customer-relationship-management interactions, Internet-of-Things devices, wearables or sales history in digital channels.

The product has been proved to increase retention rates and therefore the customer lifetime value. It has been evaluated among real users (focus groups, A/B testing), identifying a high degree of relevance in the personalized offers. The precise-targeted recommendations improve conversion rates by 7-15% and overall turnover increases by 15-20%. Additionally, the platform also deploys a dashboard to measure the key performance indicators of the digital strategy and to monitor the return-of-investment.

The platform could be integrated with different sources like: digital channels (eCommerce & marketplaces, social media, emailing, user profiles and chat bots), corporate systems (products/services catalogue, customer-relationship-management tools, point-of-sales terminals), external sources (open data initiatives, weather, 3rd party services), Internet-of-Things devices (indoor positioning, beacons, sensors, wearables), mobile context (installed apps, geolocalization, device type, connection routines).

Focusing on mobile context, this platform allows to go further to get to know the customer better: motivations (sport, gastronomy, fashion, etc.), behaviour (digital native, when he/she is connected, etc.), consumer contents and typology, interaction with the environment and other users (social media), purchasing power (by the type of device, investment apps in the stock market, etc.).

The technology centre is looking for a commercial agreement with technical assistance or a license agreement with an eCommerce or a partner focused on IT services willing to promote the platform. Final customers would be business to customer companies which implement marketing segmentation strategies.

Advantages and Innovations

The platform has been developed by merging the use of big data, artificial intelligence and machine learning. It provides a real-time personalized interaction with the customer with relevant information in the offering. It has been proved to improve conversion rates by 7-15% and increase customer lifetime value.

Stage Of Development

Field tested/evaluated

Requested partner

The technology centre is looking for an eCommerce or a partner focused on IT services whose clients are within the hospitality, retail, tourism, banking, insurance, telco, media and automotive sectors. The partner should be able to perform technology promotion and implement and provide onsite technical assistance of the platform under a commercial agreement with technical assistance or license agreement.

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