A Product for ML-based Customer Behavior Prediction and Personalization
Provectus, a Silicon Valley artificial intelligence (AI) consultancy, has launched a new product, Crystal Engine, designed to solve the problem of customer behavior prediction and personalization for startups, SMBs, and enterprise-scale businesses. The product is now available in its closed beta version.
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Crystal Engine analyzes customer-related data and serves a suite of use-cases, including but not limited to:
- Customer Churn Prediction
- Personalized Recommendations
- Next Best Action
- Conversion Rate Optimization
- Customer Engagement Prediction
- Customer Journey Insights
While improving customer experience is an ongoing goal of almost every business, Provectus projects that Crystal Engine will be especially valuable for subscription-based products across multiple categories and verticals, including Financial Services and Insurance, Media and Entertainment, Healthcare, E-commerce and Retail, SaaS and Productivity Applications, and Marketplaces. Target KPIs for improvement using Crystal Engine are Customer Retention and Customer Lifetime Value.
Crystal Engine provides an easy-to-use interface for non-technical users, enabling them to make customer predictions without the need for coding or installation. In addition to the simplicity of the product, Provectus emphasizes explainability, empowering businesses with insights into customer behavior to help them prove or disprove hypotheses, adjust products, and develop marketing strategies.
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The product is available in a self-service mode (for prediction use cases only), or it can be customized and deployed in the client’s cloud for added security and data ownership.
As a product, Crystal Engine falls somewhere between SaaS products already available on the market, and fully custom-built solutions. Says Stepan Pushkarev, CEO of Provectus, “Finding the right balance between versatility and flexibility of an AI solution is always a challenge. We strive to bring maximum value to our partners, so we created Crystal as a perfect fit to address two needs at the same time — minimizing time to market and meeting flexibility requirements for each particular business and product we work with. Our partners can benefit by gaining maximum accuracy of ML models while preserving ownership and security of their data and maintaining low TCO.”
Crystal Engine contributes to the Customer 360 suite of solutions presented by Provectus for optimizing customer experience through AI.
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