What are Predictions?

Predictions are a codeless AI-powered tool built on the top of Synerise analytics to predict any type of event or action in a customer’s journey.

What can you predict?

Custom predictions

You can use the Custom prediction type to predict any type of event or customer’s action that can be calculated in an expression and produce a numerical or 1/0 (true/false) value. Here are a few examples of what you can predict:

  • Churn likelihood
  • Conversion
  • Open rate (OR)
  • Click-through rate (CTR)
  • Click-to-Open rate (CTOR)
  • Who will visit
  • Purchases from abandoned basket

Lookalikes predictions

You can use Lookalikes for discovering new segments of customers, extending reach, picking the most promising new comers with regards to their similarity to your best customers. The list contains a few examples of what you can discover:

  • Segment of customers likely to convert to your yearly repeating marketing campaign
  • The best offline, fresh customers
  • Best customers in a specific location
  • And many more

Propensity predictions

Propensity predictions let you evaluate how likely customers are to buy products with specific features, such as:

  • Brand
  • Category
  • Color
  • And many more

Key characteristics

  • Codeless - Neither ML expertise nor coding are necessary.
  • Based on Synerise Analytics - You can can base your predictions on already created segmentations or expressions.
  • Based on already stored events - There is no need of additional data ingestion
  • Universality - Predictions are industry-independent - you can use it regardless of industry (telco, banking, retail, ecommerce, and so on) your business belongs to.
  • Readiness for multi-level analytics - You can analyze predictions outcomes both on individual (customer) level and aggregated (segments) level.
  • Easily adjustable to your needs
    • You can schedule recalculation of predictions.
    • Predictions module can take into account both standard events such as page.visit or transaction.charge and custom events.

Reasons to use predictions

There are many reasons to use Predictions, however, the following seems to be of the highest importance:

  • Lowering overall communication costs, keeping within the budget (for example, sending a newsletter only to the customers with the highest propensity to perform a certain type of action)
  • Directing communication precisely (avoiding sending communication to already lost clients)
  • Unveiling new potential among your existing and new customer base
  • Improving UX by personalizing communication (you can adjust the content of your messages to the preferences of the recipients)

Basic requirements

Minimum data requirements at least from the last month:

  • For Web:
    • minimum 100 000 page.visit events, transactions, or selected custom events
  • For Mobile:
    • minimum 100 000 screen.view events, transactions, or selected custom events

The more interactions per customer, the better.

How can I get started?

  1. Enable the Prediction module. Decide which of the predictions types you would like to enable:
  2. Once the set-up is ready, it usually takes a few hours to initialize predictions on your business profile. Once the initialization is done, you can make your first prediction.
Note: The best way to learn how to make your first prediction is to head over to this article and try it out.

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