Recommendation EngineIt is an algorithm that performs the analysis of various actions and purchases made by a customer on an e-commerce website. This analyzed data is then used to recommend some complementary products to the customer.
Explore Data & Analytics Statistics
- 45 percent of companies run at least some big data workloads in the cloud.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
- The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
- 29 percent of investment professionals use expert networks to derive data.
- People generate 2.5 quintillion bytes of data each day.
- 8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
- Businesses that use big data saw a 10 percent reduction in overall cost.
- 98 percent of sales representatives at construction companies that adopt analytics and geographic data reported dramatic decreases in their time frame for providing price quotes.
- 90 percent of the world’s data was created between 2015 and 2016 alone.
- Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints.
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