One of the best things about artificial intelligence is that it processes oodles and oodles of historical AND real-time data. SO MUCH DATA. At scale. On the fly and at lightning speed. Couple that with its unique predictive abilities, and you get actionable insights quicker and easier than ever. Some of my favorites? Likelihood to Purchase (LTP) Likelihood to Repeat (LTR) Likelihood to Churn (LTC or Churn Rate) As described below, these … [Read more...]
3 Powerful Marketing Metrics That Are Easier & More Lucrative to Measure with AI
What Is Artificial Intelligence? Defining AI from a Marketer’s Perspective
Oxford Reference defines AI (Artificial Intelligence) as: “The theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.” But what does that mean to YOU, as a marketer? In a nutshell, AI is smart software and hardware that makes machines humanlike. It allows them to see, hear, move, … [Read more...]
Easy As 1-2-3: A Quick Guide to TTI, TTT and TTV
Time To X topics are hot these days as marketers scramble to figure out ways to increase their revenues and conversion and streamline their processes for the new One-Ask-One-Answer world. Right now, there are a few dozen TTs (Time To X), but the three that you should know about are below, along with a brief description of what they mean. TTI – TIME TO INFORMATION How fast can the user get the information they’re looking for? … [Read more...]
Supervised, Unsupervised, Semi-Supervised, and Reinforcement Learning
Within artificial intelligence and machine learning, there are several different subcategories... With Supervised Learning, you feed The Machine lots of labeled input and output data to train the algorithms to get a specific outcome. Then you “supervise it” by giving it constant, corrective feedback when it’s wrong. With Unsupervised Learning, you don’t already know the answer/outcome, so your data is not labeled or organized ahead of time. The … [Read more...]
The Machine
As you read through this site, you’ll see the phrase “The Machine” a lot. It often just means "a system of computers." Kind of like the way techies say "The Black Box." The Machine is also a pet name of sorts for a “master entity powered completely by artificial intelligence.” Is The Machine the right thing to call it? Probably not, but I’m still waiting for a formal introduction. Right now, The Machine is smart. In fact, it does many things … [Read more...]