Walking through Plumb5 Analytics

Plumb5 Web and Mobile Analytics covering Visitors, Sources, Content analytics along with Scoring, Segmentation, and Goals

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Explainable AI: Visualizing and Interpreting Machine Learning

Machine learning algorithms operate in a so-called black box — so the inputs and outputs are known, but how or why an algorithm makes the recommendation it does is not clear. Despite the AI media frenzy, companies and governments are concerned about the machine learning black box. The EU’s General Data Protection Regulation, which takes effect next year, includes a right to explanation clause, or an explanation of how a model made a decision.

The Explainable AI (XAI) program aims to create a suite of machine learning techniques that:

  • Produce more explainable models, while maintaining a high level of learning performance (prediction accuracy); and
  • Enable human users to understand, appropriately trust, and effectively manage the emerging generation of artificially intelligent partners.

New machine-learning systems will have the ability to explain their rationale, characterize their strengths and weaknesses, and convey an understanding of how they will behave in the future. The strategy for achieving that goal is to develop new or modified machine-learning techniques that will produce more explainable models.

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Investing in Customer Service Robots?

Planning a customer service robot for your business? We are sure that you would not want your robots to dispense generic information. You would want your robots to personalize and engage with customers, more like humans, understanding user’s preferences, past behavior, products to recommend and other factors. And your robots will need access to a single customer file that loads all relevant information in real-time.

If you already have a Plumb5 account, then you can get the single customer information(JSON) which can be integrated into the interfacing robot apps for Ginger, Pangolin or other. When the service robot engages with the customer, the entire transcript or menu navigation can be updated back to Plumb5 to ensure the latest customer interaction is updated for next set of insights

If you have invested in a customer service bot, you can contact us here and we can set up a call to walk you through the 4 step integration process

Accelerate your business with real-time insights

 

Plumb5 offers a full breadth measurement platform to measure end-to-end consumer insights helping businesses grow by making faster, smarter and better decisions.

Plumb5 allows marketers to measure engagement outcome of their customers —individually. With a new level of precision and auto-segmentation features, you can quickly identify and drive automated customer engagement, thereby increasing relevance and providing a better experience to each of your customers.

Plumb5 allows marketers to measure engagement outcome of their customers —individually. With a new level of precision and auto-segmentation features, you can quickly identify and drive automated customer engagement, thereby increasing relevance and providing a better experience to each of your customers.

End to end marketing requires consumer insights at all stages of the lifecycle. Insights at each stage allow the marketer to optimize their communication to achieve conversion goals. Plumb5 Customer Management presents the complete omnichannel journey starting from the time they have clicked through an ad for the first time to their current state of engagement. Plumb5 is designed to reach the consumer at the right time(real-time), at the right place (channel) with the right product experience (relevance in marketing), enhancing marketing effectiveness

Here is a list of consumer insights that are available for the marketer to will help marketers make quick, smart and better decisions

Engagement Optimization

Plumb5 Platform creates a unified view of a single customer so that marketers can visualize the complete journey of customer interactions across all channels. With this unification, the marketer has access to insights such as

  • Product related customer preferences covering product and category affinity, sentiment tags gathered from social comments or in surveys, purchase frequency and other tags like sub categories, objects, color preferences.
  • Channel Preferences would reveal the most active channel for communication along with time and day of the week to communicate
  • Demographic and Social Data would reveal the user’s public social handles, along with Name, Gender, Age, Marital status and other available demographic data.
  • Customer Omni-channel Journey would chart the entire journey of the user across all channels, sequenced by time. This reveals the present customer state and their engagement details at each stage and every channel.

 

  • Behavior Scoring allows marketers can set scores for interactions which will help them to automate engagements whenever the user achieves a new score.
  • Pattern Predictions allows the marketer to visualize the current state of the user and predict possible goal conversion paths, which helps marketers reach conversions in shortest possible paths
  • Using all the parameters or preferences of the user, the recommendation algorithm serves insights on what works best for that single user.
  • After these recommendations are fired, the responses from the user are recorded and updated to the stack, which remodels and presents the recommendation engine with new tags.

Using these tags, marketers can automate using these insights to propose the next best communication to a particular user and automate their conversion campaigns for higher efficiency and faster conversions

Advertising Optimization

The marketer can further look at insights on which advertisement generates deeper engagements and their influence over purchases. Marketers can use custom scripts or allow pre-tag customization to ensure ad response data is integrated to Plumb5, allowing them to measure customer journeys right from the time they responded to an advert.

Plumb5 Omni-channel Tag management allows the marketer to understand the flow from the advertising source sites and measure which of your media is paying off. Plumb5 Probabilistic Attribution Model attributes the customer journey to each of these ads to understand the influence and returns for that campaign spend.

Ad Measurement and Effectiveness Report shows insights on how many ad-clicks landed on the site/app, the depth of engagement created with these ads, leads generated through these ads as well as successful purchases directly or indirectly influenced by the ad.

Along with this measurement, you can get to setup an automation workflow to convert these first-time visitors or anonymous users coming from ad campaigns, to ensure the users visiting from these ads are engaged and moved up the conversion path. This ensures better ROI for the marketing spend and optimizes customer acquisition costs (CAC).

Content Optimization

To understand how your engagement content fares, you can ready insights on Plumb5 to understand which banners, templates or landing pages are working for you and allows you to test your content to understand effectiveness before you take it to the target audience.

Be it a web page or a mobile app or an email message or any other digital template, Plumb5 tags allow you to record responses and understand the effectiveness of the campaign over an individual consumer.

Metrics that you can quickly access would entail

  • Page and Event Tracking to understand the behavior of the user on websites, e-commerce sites or on landing pages
  • Event and Gesture Tracking allows marketers to understand app user’s behavior
  • Heat maps give an overall interaction hotspots on a particular page or an app screen
  • A/B and Multivariate Testing allows you to test content variations to understand what works best
  • Sentiment Analysis can be used to measure the tone and sentiment in customer responses
  • Chat bot Tracking allows you to track chat conversations of the customer with the bot and generate key insights of the conversation.

Purchase Optimization

Plumb5 integrates with offline and online transactions to draw a full picture of the customer journey all the way till the point of purchase. Using predictive algorithms, businesses can gather a whole lot of insights regarding behavior and experience of a customer, product placement, forecasts and  pricing strategy for each consumer based on unit economics

Some of the main insights that are covered that enhances purchase optimization

  • Customer Satisfaction
    Customer experience, both at and after purchase, is an important aspect of the brand’s promise to the customer. Plumb5 allows the marketer to extract insights from engagements and understand key metrics like; how satisfied are customers with products or services; do customers find a value for the money they pay?; does their behavior alert a shift to a competitors product?; how loyal are they to the brand, along with overall responsiveness towards the products or services.
  • Market Basket Analysis
    Plumb5 allows marketers to visualize segments pivoted around SKUs to understand the assortment of products that a particular segment is most likely to buy. You can tag these high weighted results to the personalization engine so that they can be recommended as part of your cross-sell campaigns.
  • Store Behavior
    With beacon implementation, the integrated insights can reveal a lot about a customer at the physical store. Customer walk-streams, Browsed racks, Merchandising insights and other customer interactions that can help you strategize to better customer experience and improve sales
  • Forecasting
    The integrated data allows for accurate predictions of various factors in a business. From predicting favorable parameters to launch a product to predicting the sales of a specific product during a specific season or to predicting sales and revenue from a particular zone or customer, the pattern detection algorithm can be employed to predict scenarios and also prescribe the shortest paths to manage over predictive outcomes.
  • Unit Economics:
    This helps the business manager to quickly check each customers profitability status for a given time and help in planning targeted communication and campaigns.The app was primarily designed to handle high volume personalization workflows where retention campaigns can be executed in real-time based on current value of the customer. Rules and conditions can be configured to execute campaigns for customers who fall in respective revenue clusters. The app also reports each customer’s performance metrics comprising of Frequency & Recency, Transactions, Risk,  Purchase cycle, Response Frequency, Cost of Retention, and Present Value

The Proof of the Pudding …

Everyone knows that the real value of something can only be judged from practical experience and results; not from appearance or theory. And that’s exactly how one should measure any AI implementation – from the outcome of its application.

This is essential to clearing the hype around AI and focusing on methodologies that drive pure value. We believe that AI is the way forward and to substantiate, we’ve put together a case study to showcase how AI can bring true value to your business processes.

The Client: A global retail chain which sells products, both online and offline.

The Implementation: A behavior scoring model to generate machine driven recommendations, in order to resell/upsell products and drive revenue.

The Test: After six months of implementation, we ran up a test to understand how the logic fared. We filtered out data of all machine based recommendations that were triggered by specific customers, and see if they purchased the same product as recommended within a timespan of 0-5 days.

The below chart shows the outcome of the recommender logic.

 

The Results:
A total of 184,712 users responded to the targeted recommendation
33,358 users purchased in less than 24 hours.
32,080 users purchased within 24-48 hrs of the recommendation being sent.

The machine had recommended about 2,000+ unique products to 20,000+ unique customers, based on their behavior. It generated revenues worth $14M in six months

This is proof that AI based Recommender Systems can make a big difference in the way businesses channelize their revenues and contextually engage their customers.

About Plumb5 Recommendations

Plumb5, which uses a context-based collaborative filtering technique, delivers highly effective recommendations with the high conversion rate to some of their retail and banking customers. The main contributor to the effectiveness of these recommendations is that Plumb5 works in real-time by ranking in run-time, a technique similar to the continuous-time Markov Decision process.

Click here to read more on how Plumb5 Recommendations work

Cross-domain visitor engagement

For businesses having multiple websites/apps, it could be meaningful to understand and engage their users on any of their brand websites. FMCG companies with dedicated websites for each brand or a hotel with websites for each property will have more opportunities to engage or cross-sell, whenever the user is active in any of their websites or apps.

Cross-domain visitor engagement allows businesses to engage visitors on any of their websites. Marketers can create user segments based on cumulative insights across domains and trigger engagements wherever the user is active.

 

Cross-domain tracking and dynamic tag management make it possible for engagement to merge sessions of two related sites pertaining to the same user, as a single session. Engagement can be triggered based on behavior recorded on the linked site.

 

The Plumb5 tracking script has linking features that allow the source domain to share relevant keys, where the destination domain can access it. The above screenshot shows the user’s click stream of related websites, sequenced by time stamp.

Plumb5 offers an easy interface to link all your domains for unified tracking without having to depend on engineers to integrate code. Using linked data, you can create custom segments spanning data across two or more sites and set global engagements that can fire on any targeted site.

Is your business ready for AI?

With more businesses wanting to implement AI driven automation to improve operational efficiency and provide greater customer satisfaction, it is important to understand if the current data infrastructure is good enough to address these goals.

Increasing interest in AI has encouraged data engineers to come out with solutions which will help in automating processes such as machine driven customer engagement, operational workflows, Predictions and Solution Paths (Prescriptions), or even addressing unit economics.  By automating business processes, we are not too far behind in providing a highly supervised environment to monitor and manage these machines.

However, to expect such a machine that can generate AI driven business decisions, a business has to carefully plan their data environment and make sure if the following factors are addressedTo solve the above challenges, it is evident that the business needs a unified data platform. Today, enterprise data environments are littered with data silos, and unifying this data is the biggest challenge which needs to be addressed first, as it forms the data foundation for every new innovation or learning that the business would want to experiment.

 

About Plumb5
Plumb5 is a unified data platform that is designed keeping all the above conditions in mind. Plumb5 to its current capabilities can automate 65-70% of business processes paving the way for machine driven business operations.

Using the data connectors, data can be plugged into the learning network for real-time learning and intelligence. The weights defined by the learning network allowing the system to compute output states as soon as the input data is ingested into the network. The data “states” act as the markers for the automation engine to trigger relevant next actions.

If you would like to know more or would like to test it out on your data, you can contact the data team@plumb5 .