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EXECUTIVE Q&A

How does machine learning help ecommerce companies?

Machine learning helps ecommerce companies to increase sales by giving them the tools to identify the most potential customers so that sales efforts can be targeted more efficiently.

By utilising machine learning it is possible to identify underlying patterns that predict purchase behaviour which can then be used to estimate the buying probability of each website visitor. This means that instead of wasting time on those visitors who are going to buy anyway or who are not going to buy no matter what, companies can focus their sales efforts on those hesitant visitors who are most likely to buy if given the right incentive.

Also, with machine learning tools and the data collected from your site as well as from your extensive network it is possible to categorise visitors in real-time to decide which kind of actions to use to convert them to buying customers. An action can be e.g. a discount coupon code, a proactive sales chat, a reminder of an existing perk (e.g. free shipping) or any other action you want to add to your toolbox.

 

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