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Predictive analytics is the use of algorithms on existing data sets to predict future trends or outcomes. In part 1 of this article, we learned what predictive analytics is and how it is revolutionizing the e-commerce industry by improving conversions of online sales. We also saw various use cases wherein we can apply predictive analytics technology to…
Predictive analytics has been around for decades, but its practical applications have only begun to reach the limelight. Predictive analytics is used to extract information from existing data sets to make precise predictions of future events using the sciences of advanced analytics. The main techniques used are artificial intelligence are machine learning, data mining, statistical…
In a pilot study, Lynchpin’s UK engine achieved a 32% hike in conversion rate and a 23% uplift in revenue Those working in the eCommerce industry would readily understand why the results that Lynchpin achieved are exemplary…
To measure the success of a business, marketers often track and measure a few key metrics like website traffic, sales revenue, profit margin, and so on. However, one metric that is often overlooked is the customer lifetime value or CLV. Customer lifetime value indicates the average amount of money a customer will spend on your…
Customer segmentation is the way an organization demarcates and collates its consumer base data in various segments based on their common characteristics. For example, if a pizza chain were to segment its customers, they’ll be interested in finding out the lifestyle, employment status, age, familial status among other factors to better understand the kind of…
In Part 1 of the marketing with AI series, we covered what email marketing is and the numerous benefits it offers to both businesses and audiences. In this part, we explore how to get our hands dirty and put personalized email marketing into action. But, before we do that, we need to look at what…
In 2016, a team of hustlers in San Francisco started an email newsletter for non-technical entrepreneurs – the firm sends six issues of The Hustle per week. Initially, an add on to their main business – events – the email newsletter has become a large company in itself. It has over 900,000 subscribers – and…
Surprising, but true! Are you ready for this transformation? Artificial Intelligence is a big game changer for eCommerce businesses and other domains. Artificial Intelligence is being embedded into each and every aspect today. From fraud detection to customer satisfaction, AI is giving great benefits to various industries and domains. It is hugely anticipated that AI…