NEW YORK--(BUSINESS WIRE)--NRF 104th Annual Convention & Expo – WibiData, a leader in personalization software, today announced Experiments by Wibi, the first commercial experiment framework to capitalize on the processing power enabled by machine learning in Hadoop. Experiments by Wibi reduces the time to modify and implement personalization models from months to minutes, creating unique and contextual customer experiences.
“Digital marketers have been trying to deliver real-time personalized customer experiences for some time now,” said Rob Seaman, VP of Product at WibiData. “But existing commercial and custom-built solutions have fallen short in their attempts to ‘personalize’ customer experiences by using a subset of customer information and ignoring the most recent data – which is actually the most important – in their analyses and predictions. It's now possible for them to embrace real-time, live experimentation to get to the personalized experiences they covet.”
For the first time, retailers can create individualized customer experiences in real time by executing machine-learning experiments that analyze all their current customer information without any data preparation. As an extension of the WibiRetail platform, Experiments by Wibi provides a common interface for digital marketers, merchandisers and analysts to collaboratively customize and test models and rules on the fly without interrupting the customer experience or engaging engineering resources. Now, previously siloed disciplines can work together more efficiently to experiment with personalization models and rules based on all datasets retailers collect on individual customers.
“Predictive Experimentation is a way of creating particularly high-value data,” said Curt Monash, Ph.D., president of Monash Research and editor of DBMS 2. “It lets you craft exactly the data that you hope will answer specific business questions.”
With Experiments by Wibi, retailers gain full control and transparency over the performance of their models and experiments. Retailers can use experiments to radically improve their understanding of which models yield the greatest key performance indicator (KPI) results, including conversion rates, customer engagement, top line revenue and reduced churn. Eliminating resource-intensive and time-consuming coding accelerates collecting KPI results, allowing retailers' businesses to grow faster. In addition, Experiments by Wibi lets retailers create intellectual property by customizing models based on their unique data and business needs and training models over their data and nobody else’s.
"Much has been made of the distinct data technology advantage that consumer technology giants like Google and Amazon have over traditional enterprises,” said Garrett Wu, CTO at WibiData. “They are constantly experimenting and continuously improving. We're proud to introduce that caliber of technology for live experimentation to retailers so that they too can build meaningful intellectual property and sustainable competitive advantage."
Leveraging Hadoop technology allows retailers to dump, store and process all of their raw data in one place, reducing the time it takes to test and deploy experiments. Without in-Hadoop analysis, running experiments on the fly and in real time is nearly impossible. Experiments by Wibi also lets retailers run multiple experiments simultaneously, automatically direct traffic to winning variants and ultimately innovate faster than their competitors.
Experiments by Wibi in Action
Retailers can use WibiData’s experiment framework to create unique proprietary models and more personalized customer experiences by understanding how various product attributes impact buying decisions. For example, it can test whether customers click more often on items with the same fabrics, colors or patterns as previously viewed products.
Experiments by Wibi can also empower retailers to determine how imagery impacts buying decisions. Retailers might want to know, for example, whether photos taken in studios lead to more engagement than photos taken outdoors and whether this effect is different on separate pages of their website.
Running such experiments allows retailers to create high-value insights by filling the unknowns that their existing data wasn’t able to answer conclusively. Experiments by Wibi lets retailers seamlessly apply those learnings to their customer experience on the fly to drive conversions and create a competitive advantage.
About WibiData
WibiData is a leader in real-time machine-learning and big data software for enterprises to deliver personalized customer experiences across channels. The team is comprised of experts in Big Data and machine learning. Christophe Bisciglia (Founder and CEO) founded Cloudera and worked on Search Infrastructure at Google, and Garrett Wu (Founder and CTO) led the Personalized Recommendations team at Google. WibiData has developed an open and standard way to build the personalized experiences that Google, Amazon, Netflix, Facebook and LinkedIn have created. Founded in 2010 and based in San Francisco, Calif., WibiData is backed by Canaan Partners, New Enterprise Associates, SV Angel and several other notable seed investors. For more information, visit www.wibidata.com.
All product and company names herein may be trademarks of their registered owners.
