California-based ZineOne is using short-term data analytics to help retailers predict changing shopper behaviour during the Covid-19 pandemic.

Typically, data from many sources such as clickstream activity, profile and transactional data are aggregated over long periods of time. The belief is that the more data collected, the better the prediction results. However, using data over extended periods of time reduces the accuracy of predicting current behaviour as the pandemic has created very different consumer behaviour.

The company has therefore developed Speed to Sense, which uses short-term data analytics to help major online retailers boost conversion rates up to 50% while maintaining a better than 90% predictive accuracy. Compared with the pre-Covid-19 conversion rates of 3%, these gains represent significant boon for the retail, fast-food and banking industries.

With the advent of Covid-19, pandemic consumer consumption patterns have swiftly shifted, making much of data analytics based on historical data obsolete.

Speed to Sense blends data analytics with AI and machine learning to increase the rate at which the intelligent consumer engagement platform can learn consumer behaviour while maintaining up to a 90% predictive accuracy. The result is unique offers that are more relevant and appealing to the visitor, especially those that need a nudge to purchase. Further, this is done at the moment the consumer is shopping, creating a win-win scenario for consumers and brands.

“What we have created is a new way to model short-term behaviour from using only clickstream data – which contains customer activity on a site – as an ordered sequence, which we termed as Customer DNA,” said Manish Malhotra, chief of products for ZineOne. “Just as the encoding and analysis of human DNA revolutionised scientific insight, our patented algorithms sequence spatial and temporal consumer traits, fundamentally changing our ability to anticipate behaviour and influence outcomes. These algorithms successfully boost learnings from short-term behaviour and dampen or diminish those from data seen over a longer period of time.”

In today’s crisis-ridden environment, a discount mindset has set in, especially for non-essential products. This will make it even more challenging for businesses not only to cut through the noise of innumerable offers and stand out to site visitors but also to maintain margins. Speed to Sense enables organisations across retail, fast-food outlets and banking to adapt their ecommerce offerings continuously while personalising consumer experiences and communications to what is happening on the site from moment to moment.

ZineOne’s intelligent customer engagement platform enables business users to understand and respond in the moment with relevant one-to-one customer engagement to influence desired outcomes. The company has positioned itself as an AI personalisation provider that is delivering nearly $1bn in new revenue while respecting and preserving margins for companies who seek to provide consumers with better digital experiences.

Its patent-pending platform and its continuously learning models provide deep insights into each visitor across digital and physical channels while delivering intelligent customer experiences in crucial moments to foster loyalty and increase revenue.