ZineOne released Speed to Sense, a new predictive hyper-personalization technology. Developed by ZineOne in partnership with global financial services firms and retailers, Speed to Sense uses short term data analytics to help major retailers boost conversion rates up to 50% while maintaining a 90+% predictive accuracy. Compared to the pre-COVID-19 conversion rates of 3%, these gains represent significant boon for the QSR, retail 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. Using data over extended periods of time reduces the accuracy of predicting current behavior as the pandemic has created very different consumer behavior.
Speed to Sense blends advanced data analytics with AI and Machine Learning to increase the rate at which the ICE platform can learn consumer behaviors 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.
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 to not only cut through the noise of innumerable offers and stand out to site visitors but also to maintain margins. Speed-to-Sense enables organizations across retail, QSR, and banking to adapt their e-commerce offerings continuously while personalizing consumer experiences and communications to what is happening on the site from moment to moment.