Next Best Offer
Why Next Best Offer Algorithm?
You will get the multilayer AI algorithm that makes more leisurely personalized marketing activities to predict customers’ needs and requirements accurately. This goal is further elaborated by tailoring specific offers for specific customers individually. It is determined by many factors, including customer and transactional data.
NEXT BEST OFFER Business goal
The ‘Next Best Offer’ (NBO) algorithm uses customer and transactional data from across the business database to predict the following best action required to enhance customer usage and satisfaction.
The solution’s sophisticated technology can handle more than 200 parameters, including customer transactions, current/historical purchases or used services, demographic information, loyalty program engagements, email history, and other inputs.
Moreover, the data is handled in real-time to predict the products and services to upsell and co-sell to best meet the customer’s needs.
Furthermore, the data collected will lead to further information analysis and transform it into viable sales and discount strategies. These strategies can be used to formulate action-targeted marketing campaigns that focus on personalizing offers individually to customers.
The successful implementation of personalized activities and offers can increase revenue, push marketing to another level and offer the best possible customer experience.
iERP’s mission is to provide an end-to-end business prediction platform with modules that address multiple business scenarios and ZERO required knowledge of artificial intelligence or machine learning technologies.
We are helping companies to predict sales and inventory demands, what their customers are going to purchase next, or identify customers that are going to be late with the payment.