David Selinger discusses how retailers can take a page from Amazon’s playbook to benefit from targeted ads on Squawk Box CNBC. Watch the video here.
This post is all about dealing with Gaussians in a Bayesian way; it’s a prelude to the next post: “Bayesian A/B Testing with a Log-Normal Model.” So don’t go analyzing the non-binary data from your $$A/B$$ tests until you read both blog posts!
RichRelevance, a company which provides over one billion product recommendations daily to consumers shopping some of the world’s largest retail brands including Wal-Mart, Sears, Target, Marks & Spencer and John Lewis, has acquired Avail, Europe’s largest provider of online merchandising platforms.
Based in Sweden, Avail serves more than 80 retail clients, including Argos, La Redoute and Halens. According to RichRelevance, the acquisition combines two customer bases to create a global market leader in personalisation for retail – and unifies the companies’ expertise to create the strongest partner to the retail community at a regional and international scale.
Through this acquisition, RichRelevance gains an immediate presence in new countries, including Australia and India. The combined company ranks #1 for personalisation in both the Internet Retailer 500 and Internet Retailer EU250, now with customers in 29 countries worldwide.
“The combination of RichRelevance and Avail brings tremendous value to our clients in the EU and around the world,” said David Selinger, CEO of RichRelevance.
Click here to read full article.
Google have defined the ‘Zero Moment of Truth’ – the point at which a consumer starts researching a purchase online. Jake Bailey of RichRelevance offers best practices for CPG marketers seeking to optimise a vital moment in the relationship between brands, retailers and consumers.
The internet has changed the way consumers conduct pre-purchase research almost unimaginably in recent years. Recently Google christened this concept the ‘Zero Moment of Truth’ (ZMOT) – the moment a consumer researches a purchase online. To engage with a consumer who’s in ‘learning mode’ brands must supply her with real-time information. One of the most fundamental and effective ways to do that is to streamline your online merchandising strategy with the most influential e-commerce partners.
Have you noticed that, when showing cross-sells and upsells, many ecommerce sites hijack you off the page you’re looking at to view the suggested item, often with no way back to the other page without hitting “back?” Surely this is not the most usable way to suggest products and improve merchandising conversion rate.
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As the former head of Amazon.com’s data mining and personalization team, I gained ample wisdom from what the retail giant does right. But I also saw firsthand a few things Amazon didn’t do quite so well, and learned the hard way that even simple mistakes can cost time, sales and brand equity.