Absolutdata has announced the launch of an artificial intelligence-driven decision engine: the NAVIK AI Platform. The NAVIK AI Platform combines data, analytics, and technology to optimize decisions on an ongoing basis without having to build a data science team. The company also rolled out the NAVIK MarketingAI and NAVIK ConceptAI products, which join the NAVIK SalesAI solution, released earlier.
“The NAVIK AI Platform develops an intelligent self-learning system that continuously learns from your unique business environment for better decision making,” said Dr. Anil Kaul, CEO of Absolutdata. “Until now, sales and marketing technology has primarily focused on executing decisions that were already made. What makes the NAVIK AI Platform revolutionary is that it operates at a higher level to actually improve decision-making. Use cases with sales and marketing teams demonstrate that it is capable of delivering amazing results across industries.”
Designed for non-technical marketing staff, NAVIK MarketingAI is powered by the NAVIK AI Platform, and hyper personalizes offers for maximum results. MarketingAI was used by a global hotel brand to solve the decades-old problem of “one and done” customers—guests who stay at a hotel once and never return. A controlled AB test was conducted over an eight-week period. The campaigns that used MarketingAI experienced a 51 per cent increase in revenue from opened emails, 31 per cent more customer bookings, and a two-fold increase in revenue from people who weren’t loyalty program members.
In another use case, a global industrial supplies leader that had experienced a multi-year, industry-wide sales slump used NAVIK SalesAI to generate a weekly game plan for one group of salespeople while directing a peer group to proceed as usual. With AI-based sales guidance on which accounts, contacts, and opportunities to pursue with specific products and messages, the company saw a 4 per cent overall sales boost in just seven weeks. The SalesAI-guided team generated 2 per cent more sales than the control group, a 2 per cent increase in pipeline value and a 1:7 close rate for recommended products.
The NAVIK AI Platform also now powers NAVIK ConceptAI, an automated concept testing tool that allows brand managers, product managers, and researchers to conduct studies faster and more frequently with decisive Go/No Go results. With step-by-step guidance, users can hone in on what messaging, packaging, features, and even pricing that the market will most likely embrace. AI-based benchmarks with self-learning capabilities dynamically adjust to business and market changes. ConceptAI includes a range of customized tests to fit unique business requirements.
The NAVIK AI Platform’s unique decision engineering methodology and human-machine model form the foundation. The platform includes an AI Design Lab with a machine learning library, self-learning model builder, and text mining lab. At the heart is the Decision Engine with a prediction simulator, decision option generator, and recommender bot that, together, find the actions most likely to yield value and results. The platform automates data integration and harmonization from multiple sources including existing CRM and marketing automation systems.