Machine Learning & Opportunity Mining
Another day, another news items about machine learning.
Customer experience solution Qubit recently announced the deployment of its own machine learning engine as part of its broader digital experience management (DXM) platform.
Built on its new Qubit ML engine, this “opportunity mining” approach offers marketers a way to automatically identify and prioritize customer groups by their largest revenue opportunities through predictive analytics and machine learning. These customer groups, or segments, are surfaced to Qubit users in priority order, highlighting the segments that warrant the most attention, rather than randomly engaging specific customer segments with meaningless experiences.
“Qubit ML is poised to completely change the customer experience game, in different ways, across different industries,” said Bud Goswami, head of data science at Qubit. “With opportunity mining, we're delivering untapped potential. Qubit picks the best customers to target so that marketers can focus on the quality of the customer experiences.”
In this latest release, Qubit has also streamlined the deployment of high-value “programmatic experiences,” context-driven experiences (such as abandonment recovery, social proof messaging, and product recommendations) known to drive increases in revenue per visitor uplift when compared to traditional optimization initiatives. Qubit is essentially addressing a collaboration challenge facing organizations with a new design workflow, one that enables business users to define and control the rules for specific digital experiences and then bring in developers to customize.
Many other enhancements demonstrate Qubit’s ability to help businesses understand their customers, including increased support for seasonal or time sensitive customer segments. Users, for example, can now easily create segments taking into account key moments, ranges of time, or look back historically for specific events, such as Black Friday, summer sales, or when a customer hasn’t shopped for 90 days or more.