“Show me what I want.” That’s essentially what we demand of online retailers, to deliver what we want to buy to our view even without our specifying what it is. Yes, we do want to have our minds read to that extent.
In a generation whose shopping habits are shaped by Amazon’s recommendations for books and products or Netflix’s suggested movies that reflect our taste, we’ve come to expect personalized marketing that shows it knows what we want. And we can get it, too, thanks to AI.
Personalized marketing had been largely limited to the communication that marketers sent out based on their own understanding of what customers would want. But this kind of guesswork doesn’t cut it in today’s digital age. Today is not just a nice-to-have but a necessity for marketing.
AI enables marketers to deliver on our expectations because it learns our tastes and preferences from our purchase histories. It can anticipate not just what we, as customers, would want to hear about but when and how we’d want to receive that communication.
With the advance of AutoML, also sometimes referred to as self-supervision or self-training, AI is now even more accessible to marketers because they do not have to wait on a data science team to plan and implement a training project over several months. In “Why AutoML Is Set To Become The Future Of Artificial Intelligence,” analyst, advisor and architect at Janakiram & Associates, Janakiram MSV explained how it works:
"AutoML focuses on two aspects - Data acquisition and prediction. All the steps that take place in between these two phases will be abstracted by the AutoML platform. Essentially, users bring their own dataset, identify the labels, and push a button to generate a thoroughly trained and optimized model that's ready to predict."
The rapid model-building enabled by AutoML ushers in a “new age” as Gartner pointed out, in which “nonprofessionals will be able to use AI-driven tools to automatically generate new solutions.“ Though we don’t yet have full automation, there have been significant breakthroughs, and some brands are already tapping into the power of AutoML to achieve much greater personalization.
That’s what Zylotech does by applying its embedded analytics engine (EAE) to automate the process of customer analytics through ML models. This enables Zylotech to uncover important correlations to plot out customer patterns and identify signals in near-time. That means that Zylotech clients can deliver the truly personalized one-to-one level marketing needed to attract customers today and retain them for tomorrow.
For businesses that haven’t yet taken advantage of automation, the National Retail Foundation report advises that they embrace the paradigm shift enabled by digital transformation: “Be open to uncovering new capabilities and iteratively evaluate automated tasks and activities for opportunities to redesign processes using intelligent automation capabilities.”
Marketers deciding on what platform to use now should not just think of the present needs but longer term goals in terms of metrics and scale. This is where AutoML will play a particularly important role in empowering businesses to adopt an innovative model that allows them to be responsive, agile, and effective.
Ariella Brown is a Zylotech contributing writer.
If you liked this post, check out our recent blog post: Time to rebalance your technology portfolio for digital transformation.