Don’t be fooled by deep learning
Evaluating Your Next ML Personalization Engine
Marketers are accelerating their investment in digital transformation. After a year of accelerated online activity, online channels are becoming a major focus.
To make a digital strategy scalable and cost effective, companies need to combine a variety of different components across data and technology to deliver the best possible customer experience. The glue that binds these components is personalization at scale – the ability to deliver personalized experiences to many people across channels.
McKinsey Global Institute projects that personalization at scale has the potential to create $1.7 trillion to $3 trillion in new value in the next few years, with retail making up the largest portion of that opportunity.
At the heart of personalization at scale is machine learning (ML), a combination of data and technology that can make rapid decisions based on many insights.
ML has the ability to deliver personalization that uses real-time insights to adjust the customer experience, and improve over time to become more valuable with each interaction.