New technologies are shaping almost every aspect of our lives. Thanks to them we can achieve things, that some time ago we wouldn’t even dream about. Computer science changed the way we communicate, travel, work, learn, have fun, or even pray (as watching the online religious ceremony). For centuries civilisations discovered a countless amount of tools and solutions to help themselves on a daily life basis. In our era, we’ve become the witnesses of rising a technology, which takes a challenge to replicate human intelligence.
Nowadays Artificial Intelligence is a very trendy term. No wonder – everyone who wants to make a hit in business (mainly based on the Internet) has to take it under consideration usage of AI in his plans. Part of this technological branch in Machine Learning, which uses statistic techniques to „learn” and create algorithms to make predictions. The more data is contained in the system, the better it performs. What does it mean in practice? How is that relevant for e-commerce? Let’s find out!
Knowledge gives power.
By the year 2012, an impressive 72% of retailers plan to invest in cognitive computing and machine learning (https://www.businessinsider.de/ai-ecommerce-report-2017-8?r=US&IR=T). That shouldn’t surprise considering the benefits coming from these solutions. Big data allows getting an enormous amount of information about clients. The better understanding of their behaviours results in to perform more adequate actions. The significant advantage is that machine learning makes predictions – the task we used to think only belongs to human’s capabilities.
Essential customers’ behaviours from an e-commerce perspective:
- What are they interested in?
- What are they searching for?
- Which commercials attract them the most?
- What have they bought already?
- What time do they purchase products?
- Which device do they use for online shopping?
Furthermore, machine learning can also be helpful when it comes to analysing the trends of the market. As you realise, there are many economic factors which impact your business. Getting through all these data would take a lot of your precious time. Now, the system can do it for you. That’s how we face automatization these days, and that’s why you should unconditionally fall in love with it!
Ads supported by an invisible assistant.
Have you ever bought something recommended by shop online? These products proposed in the section „You might also like this”is not coincidental. The program automatically suggests you next items based on the knowledge about you and your purchasing habits. At the beginning of this technology the recommendations didn’t fit that much, as it was already mentioned before, the system learns and become more and more accurate.
Plastream uses machine learning to match content with recommendations. Thanks to similarity search platform can recognise the item placed in the video and look up for the same one in the online stores’ database. It even goes one step further – if actually, this particular item is unavailable (for example it’s sold out), the system will recommend the most similar product, but also different colour versions or brands so that the customer can have a wide range of choice.
Regarding advertising the others, exciting applications of machine learning capabilities are automatically proofreading or evaluation of the previous campaigns to improve ads’ effectiveness. Groundbreaking phenomena can be observed in client’s service thanks to chatbots powered by AI and specifically machine learning. The visual assistant can answer for almost every question in the blink of an eye. Not everyone feels comfortable while interacting with a system (especially when it’s not responsive enough and cause customer’s frustration) but we should appreciate the speed of reactions and companies should still improve the user’s experience related to chatbots. The Y and Z generations demand an immediate response, so it seems like meeting their expectations.
Pattern recognition – the future of shopping.
Machine learning enables a very complicated process called pattern recognition. A system detects an object, analyse it and identify its features. In the next step, the program describes an item with a unique mathematic formula. The end of the process means actual recognition and making decision connected to that. It’s fully automatized.
When it comes to e-commerce, we speak about recognising not only the shape and colour of the product but also its other features like the material, structure, and more. Because of this advanced process recommendations can be remarkably accurate. Plastream provides service based on it and makes in-video commerce extremely progressive. Your customers will be amazed that they can directly buy the products they’ve just seen on the screen while watching a favourite tv show.
Machine learning combines personalisation and automatization. These two components are one of the most valuable factors in today’s world, as there are over 7,5 billions people on the globe and everyone needs to feel special, but companies can’t perform this manually. This emerging technology comes to rescue, and it’s within reach. Make the best use of machine learning for you and your customers. Boost your e-commerce with our help.