Savvy shoppers wait in anticipation, while Australian retailers are gearing up for the onslaught. Amazon’s arrival is imminent.
Digital agency, Razorfish, has launched a new platform combining cognitive algorithms, data intelligence and machine learning aimed at creating more timely, relevant and seamless brand experiences across all touch points.
Based on artificial intelligence algorithms, COSMOS mines behavioural data in order to predict the needs, wants, and motivations of consumers across the customer journey.
“New business models are changing old paradigms and companies must now adapt to connect with consumers who are more empowered than previous generations, with more touch points than ever before,” Razorfish CEO, Shannon Denton, said. “With COSMOS, we can now harness intelligence from online and offline data to create a single view of the customer, while at the same time creating experiences that will not only disrupt and drive growth for businesses but also improve the lives of their customers.”
The platform is modular, allowing organisations to either deploy the platform at scale or purchase need-based solutions that can be integrated with existing marketing and technology platforms. It also has the capacity to learn, reason and activate deep customer insights by introducing cognitive optimisations that drive loyalty, customer retention and experiences with a deeper sense of personalisation.
According to Publicis Groupe's chief strategist, Rishad Tobaccowala, relevance has always been key in marketing and the opportunities to be highly relevant have increased tremendously with the omniscience of mobile and programmatic media.
"By the same token, the difficulty in finding the right moment of interaction has also increased," Our digitally connected economy is forcing brands to fundamentally redefine the way in which they interact with consumers," he said. “COSMOS helps solve this problem, unlocking moment marketing opportunities by quickly delivering data and insights that can be activated in real time across channels.”
Cognitive and machine learning systems are quickly gaining ground as organisations look to battle the wealth of big data now available to them.
In a speech at this week's IBM Thinkforum in Sydney, big blue's chairman, president and CEO, Ginni Rometty, claimed businesses are now entering the age of cognition, a disruptive force that will impact the way decision making occurs in every industry in the decades to come.