Do you know 75% of Netflix users watch content suggested by its own recommendation engine? If that’s not enough to floor you, here is another one. Out of $37.1 billion revenue generated by Amazon in the second quarter of 2017, 35% of the total consumers, purchased products recommended by its smart product recommendation system. So, you can imagine the impact of a recommendation engine on the core business of leading industry giants. While every marketer wishes to become the next Netflix, Spotify or Amazon, the impeccably personalized content recommendation they do is a task although hard to achieve, it’s not impossible.
The number game is often followed by views and subsequent debate. While the recommendation engine has become the apple of everyone’s eye, there has been growing debate over building recommendation engine from scratch against opting from the handful options available in the market. As you are already here, let’s take you straight on why you should not build a recommendation engine on your own from scratch and why Alie is the best in class recommender system in the market currently.
Building your own recommendation engine is NOT a good idea, At least Now!
While a recommendation engine is one of the fanciest output of data science, however, it has been largely misunderstood in terms of what is required to build and what purpose they serve to. A recommender system paves way for connecting your existing users with the ideal items in your inventory. So, it is implied that you have to have a strong inventory and existing users with you for your recommendation engine to work. Plus, it is too much a time-consuming process that requires consistent dedication of some good data scientists. They are precious resources to have. Do you have them in a bunch? If not, then the road is gonna be bumpy.
Now, what should I do?
When thinking of a recommendation engine for your platform, always Hire a Third-party provider. Reduce your cost and save your time both by hiring a third-party recommender as a service. The primary benefit is, you will be in safe hands because what is just a mere feature to you, for the offering company it’s their year-long R&D. What they thought a few years back and offering now is not gonna be easy for you to start from scratch. By the time you reach, the market dynamics might have altered especially in the age of AI.
What is Alie and what is so different about it?
Alie is an AI-driven Recommendation Engine for any online business, blogs, and websites. Powered by Artificial Intelligence, Alie uses machine learning and deep learning algorithms to capture and analyze user data and recommend personalized content in real-time with impeccable accuracy. Its accuracy is derived from its powerful algorithm which reduces the time required to discover an item and significantly increase the probability of discovering other items of interest. This way users get indulged in your platform completely by playing around with several recommendations that suit their preference and increase the frequency of visits to your site. The result is personalized browsing and/or shopping experience that leads to increased user retention and loyal customers.
3 Things that Alie has and none of its contemporaries have
- Power of AI: Alie uses machine learning, an application of AI to recommend data. Using the combination of both content-based filtering (similarity of item attributes) and collaborative filtering (similarity from interactions) the powerful algorithm used in Alie suggests best content or product suitable to the user as per his previous searches and activities. Apart from these two, what makes Alie stand out is, it takes average time spent by a particular user on a particular page and bounce rate into account as well before recommending content. And all these happen in real-time. This particularly helps e-commerce owners by letting them offer a more refined product recommendation that increases conversion and average order value.
- Deep learning Algorithms: Let’s face it. Machine learning is a Must but not enough and we can’t agree more. That’s why Alie deploys deep learning algorithm to read and analyze your user’s next possible action on your platform. Artificial Neural Network (ANN) used in Alie is consistently trained to predict user interactions based on the items, user attributes, history of activities and content. ANN via algorithm incorporates new data to the data inventory making recommendations robust, powerful, and accurate.
- Simple Pricing: Available at $99 per month, Alie’s cost-effectiveness makes it an instant favorite among e-store owners and makes its peers envious considering the premium service it is offering at such a low price. The Marketing wing of Alie, quotes, “Marketers are yet to fully utilize the power of recommender systems and what we all have now is just the tip of the iceberg. Alie is powered by AI and is constantly evolving under proficient guidance of data scientists. While price shoppers love us unconditionally and we love them too, our goal is to convey a message to need-based marketers that not all that is pricey, is superlative. Quality comes with affordability too. And Alie proves that with aplomb.
Take a free trial of Alie to know more.