The proliferation of customer and sales information now available to organizations via a variety of tools is increasing the ability of companies to identify, acquire, nurture, and retain customers.
Marketing and sales organizations have been collecting information on their customers for a long time, from item sales history to demographics. Integrating the data from a variety of sources allows them to build a more accurate picture of who their ideal customer is, helping focus their efforts on higher value prospects, increasing customer adoption and spend.
Using machine learning to analyze this broad range of data provides deeper insight for lead scoring to better identify Marketing Qualified Leads (MQL’s) and Sales Qualified Leads (SQL’s). It can also determine the most successful content responsible for those leads, providing more focus on what works.
Most online retailers now employ “recommendation engines” to drive higher spend amounts per customer. The technology is driven by machine learning which analyzes things like purchase history, demographic information, and even social media topics to provide suggestions that may match a customers’ interest.
Automated machine learning (AutoML) is particularly well suited to the task of analyzing the large and varying datasets that marketing and sales organizations rely on. Auger’s AutoML tool greatly reduces the time spent selecting algorithms and tuning hyperparameters by automating the process and trying every available algorithm and hyperparameter combination. This process generates a leaderboard showing the best combinations from which an ensemble is created, combining the best attributes of the leading algorithms and hyperparameter options. Additionally, Auger employs a “warm start” process to algorithm/hyperparameter selection, generating more accurate results in less time.
All this means higher productivity and more accurate results, allowing marketing and sales organizations to spend their time nurturing the right prospects and increasing the value of the customers you already have.