Recommender System powered by Machine Learning
Farix Machine Learning solution features our proprietary recommender engine to create a personalized product offering and customer experience
Business problems solved
Create a customised list of recommended product for each client bases on their interests and profile
Offer additional discount for bundle purchases (cross-selling)
Notify clients about new products (up-selling)
Business applications
Displaying and presenting relevant product recommendation on a website, at office, during a call to the contact center (+60% conversion growth)
Customized package (promo) product offering
Selecting optimal client communication time slots
Marketing campaigns optimization
Methods of making product recommendation
Product Hierarchy
You bought a printer, you would probably need an ink cartridge.
Recommendations based on product features
If you like action movies with Clint Eastwood, you will probably like “The Good, the Bad and the Ugly” on Netflix.
Social and interest graph
Based on trust and social interactions between people. For example, if your friends like Lagy Gaga, you will probably like her as well. (used by Facebook and LinkedIn)
Hybrid methods
Combining any of the above-mentioned methods
SOURCE DATA
for the recommender engine
