Transformation-driven AI Method from UMD Smith for Anticipating Customer Actions
In a groundbreaking development, the University of Maryland's Robert H. Smith School of Business has created an AI model named "AI for Customer Journeys: A Transformer Approach." This innovative model is designed to predict digital customer behaviour and deliver personalized marketing insights for complex multi-touchpoint journeys.
The model outperforms traditional methods in precision and Return on Investment (ROI), making it an ideal tool for today's fragmented, multi-touch marketing environments. It captures both the timing and nature of each touchpoint, offering a comprehensive understanding of customer interactions.
The model offers rich managerial insights that distinguish between firm-initiated and customer-initiated touchpoints, identify optimal windows for marketing intervention, and enable latent profiling to distinguish behavioural patterns. It integrates customer-level heterogeneity within the transformer architecture, allowing it to deliver individualized insights.
The AI model not only predicts who is likely to convert but also why and when to act. This feature empowers managers to maximize Return on Investment (ROI) and customer engagement in complex digital ecosystems. The model is intended to optimize interventions, allocate budgets, and drive conversions.
The model uses detailed journey data from a large hospitality firm, covering over 92,000 users and more than 500,000 touchpoints. The authors claim that their research advances marketing analytics towards real-time, data-driven decision-making.
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. It offers various degree, custom, and certification programs in learning locations in North America and Asia. The source of the press release is the University of Maryland's Robert H. Smith School of Business.
The press release can be viewed originally at this link, issued by Cision PR Newswire.
For more information, please contact Greg Muraski at [email protected]. The AI-based model developed by the University of Maryland's Robert H. Smith School of Business is set to revolutionize the way businesses approach customer behaviour prediction and personalized marketing.
