Bangalore Based Boxx.ai, a plug & play, Omni-channel personalization engine launches V2 Algorithm to determine the consumer behaviour, which helps to predict the customer’s mind-set to buy a particular product.
In technical terms, the base of the algorithm is a hybrid model of collaborative filtering and content based filtering. So basically ‘People who have bought this have also bought these’ and ‘People who have bought product A are also likely to buy similar products (similarity based on product properties)’. Most of the recommendation engine works on either of these models or their combination.
The combinations make the algorithm best and have led to almost 40% increase in critical metrics for our clients. We also give our clients an option to choose what they want to optimise (clicks, purchases, revenue, profits etc).
Commenting on the launch of V2 Algorithm in India, Mr Ajay Kashyap Founder Boxx.ai, said, “V2 Algorithm is an essential product for the smooth functioning of a website, which helps organizations in taking remedial actions, as and when required. V2 Algorithm specializes in predicting consumer buying behavior and making it simple enough, to be understood by the marketing professionals.”
As companies dealing in e-commerce typically handle a lot of clients’ servers, V2 Algorithm can help them save time and enable them to monitor all their clients’ servers on a single screen in a hassle-free manner, claims the program developer.