Personalised product recommendations

This area of machine learning can be used for personalized marketing and sales offers, location-based recommendations, recommendations based on recent/past activity, recommendations based on real-time activity and matching people with interests.

Pricing optimization

Various AI models can be used to determine the best price for different products based on seasonality and price elasticity along with real-time inputs on inventory levels and competitors. This allows retailers to increase demand and maximize profits.

Next best offer (NBO)

MindTitan’s next best offer (NBO) model helps salespeople target the right people at the right time with the right products. Deep learning powered NBO models increase the success rate of the sales team at least 20%. They don’t just recommend the things that have been sold previously, but they understand product & service features and their viability with each customer.

Customer lifetime value

Advances in machine learning enable modelling of both private and business customers to the extent that it is possible to understand what the spending and growth patterns of either are. This allows to understand the lifetime value of every customer.