“When you think about recommending something to someone, there’s a real business reason why you might want to do that.” - Jack Chua, Director of Data Science at Expedia.
Machine learning recommendation systems are not just a trendy feature of online stores. It is a mighty tool that can propel your business to the next level if used strategically. No wonder Jack Chua suggests always having “a great tie-in to the underlying KPI of what you want to drive”. For example, increase sales, customer retention, cross-selling, and so on.
If you’re still hesitating on how exactly to use recommendations to invigorate your business, we invite you to learn from the experience of those who already made it work brilliantly!
We collected the best examples of machine learning implementation in recommenders (including our own development projects) and explain in plain English how to build a machine learning recommender system from scratch. Are you in?
Is your eCommerce business suffering from costly returns, customer churn, or margin decreases? Do you try your best to optimize prices but spend too much effort? Or maybe your online consultants are overloaded with claims and questions from customers and fail to deliver the best quality services?
If you recognized some of the challenges of your business, then it may be useful for you to know how the most successful retailers in the world manage them with the help of Machine Learning.
Come on and dive in with us into the ocean of the opportunities for your eCommerce business with ML!
What do Google, IBM, Unilever, and IKEA have in common, besides being market leaders? They, along with a handful of others, are trailblazers that have been applying artificial intelligence in human capital management for years already, and they have done so successfully!
Regardless of whether you believe in the ‘Terminator’ scenario or not, right now machine learning can give your company a real competitive edge in talent management.
In 2020 customers spent $2.67 trillion (95% of worldwide market sales) on the top 100 online marketplaces. No wonder so many people want to start eCommerce businesses. Let’s take a close look at Wish.com, one of the biggest marketplaces.
Wish is famous for low prices and aggressive marketing, the tricks to draw more customers, and unique feed algorithms. Do you want to learn how Wish became successful, how it works, and how to make an app similar to Wish?
Yearly, $17.2 billion are raised through crowdfunding in North America alone. And the whole crowdfunding industry is predicted to reach $300 billion by 2030.
Despite tough competition with sites like Indiegogo, Kickstarter, Patreon, and niche platforms, there are still untapped areas for new players. Moreover, while most of the economic spheres suffered during the outbreak of COVID-19, crowdfunding platforms, on the contrary, shined with donations that help people and organizations fight the pandemic and crisis.
How to start a crowdfunding platform? Below we’ll talk about business opportunities, cover the technical aspects of development, and discuss possible challenges. Read on!
“Good ideas can come from anywhere: 92% of the creators of the best creative solutions come from different countries than the country from which the brief originates.” - eYeka State of Crowdsourcing Report.
Some challenges just need a collective mind, in order to solve them, and some tasks need to be delegated to someone who has better competencies in the specific area. Some projects are better for brainstorming across as many people as possible, too.
It’s no wonder that, with the development of the internet, it has become inevitable that people have started to delegate jobs to others via specialized platforms. How to build a crowdsourcing website? Let’s find out!