Market Survey and Research about Recommendation Engine

According to the detailed research done and lots of surveys for recommendation engines created in collaboration with renowned companies, it came out with few surprises. B2B is a strong and driving marketplace, and almost half of the suspects devise to deploy recommendations by the last year. These days, big data recommendation engines are emerging and dawning as the top notch marketing as well as advertising tools for all kinds of businesses. The technology is being used to personalize and tailor made communications, improvise website search, drive conversion and lift productivity. A recommendation engine advises and suggests people items including products, services and articles including personalized content that can be viewed by online customers. Making use of big data, hadoop and other platforms, recommendation engines are used for multiple purposes. Some of them are even mentioned in brief below.

1.       Build a personalized experience for a specific segment or a customer.

2.       Advise and commend people additional products based on their buying preferences and patterns from the recommended community.

3.       Help to showcase and present banners and ads that are more likely to be specific and apt for a particular group involving bunch of people based on their profiles and information provided.

4.       Draft a personalized e-commerce website customized according to every customer relationship covering queries like sports played, machines managed or car owned and more.

5.       Deliver a personalized and customized view of the corporate intranet.

6.       Build a tailored support online portal to the professional help desk.

7.       Customized content featured and addressed in e-mails or displayed on the website.

The purpose and motto of the survey was to do some research and detailed study on the goals, potential, capabilities and achievements for recommendation engines. In last month, there was a survey conducted for recommendation engines in which there were about 100 respondents to three versions of survey. About 10% of them were already using such systems, many of them have plans to deploy them in next few months and few of them are not even aware of the same. As a conclusion, about half of the respondents are pretty sure and know about recommendations. Retailers and vendors unanimously chose such frameworks for deployment.

In a zest, the top three purposes for which respondents and appellants chose big data recommendation engines are either for content personalization, personalizing ads or up-selling to be done for an e-commerce website or online portal. Moreover, the three arenas that could be addresses as separate market platforms used by recommendation engine vendors and third parties are revenue, acquisition and last but not least user satisfaction. We used to ask people all across the world a lot about what recommendations are for. And unsurprisingly, answers are all same that is along with increasing effectiveness and performance, taking more care of customer acquisition, revenue generation and client satisfaction. Even in few countries, employee productivity and potency was an important and vital factor for many of the appellants of small, medium and large sized companies. Adding more, to stay ahead and keep up with the globalized and fast paced industry, technical geeks must keep track of big trends and find ways to inculcate the significant ones in their respective enterprise’s technology portfolio. And use of recommendation engines will drive users to leverage more about the offerings from your business or websites.