Autobot recommendation is a recommendation platform that can be developed using a set of algorithms and techniques designed to use the data and generate output depending on the data and requirements. In any industry or business, they try to focus on retaining their old customers and getting new customers. They may want to recommend offers to make new customers, or they may need a recommender system for their customers that’ll help them in and exploring and shopping products, keeping customers’ historical information into consideration.
The advantage of Deep Learning based autobots is that they keep a customer's preferences as their priority. Since not all products are long-lasting, there will be a change in trends and variations in the interests of people. One cannot keep track of these details across hundreds of products in the market to get the maximum profit. With all other various techniques, it also helps industrialists do market basket analysis for a particular industry to keep an eye on the product's demand and rating.
If we consider a shopping mall or a retail store, the store owner requires various types of suggestions like where should be the placement of a product or combination of products to run. For this, the data for the analysis could be transaction data. Based on the transactions done by the customers, we can find out the following details:
- Which products are more likely to be sold and are in high demand in that area and providing maximum profits?
- What the products often bought together?
Platforms like autobots give recommendations in real-time and are designed to work in many industries like music, retail, banking, movies, people, interactive sites, and so on. It profoundly analyses patterns in behavior in its every task, and it’s made in such a way that it tracks everything, from logged-in customers, online/offline customers to which product they viewed. It also gives recommendations on streaming data also after running models on historical data.
If you are interested in knowing more about how Deep Learning helps in decision making, then you should check our book "Artificial Intelligence and Deep Learning for Decision Makers".