About SOLUS (www.solus.ai)
SOLUS is a hyper personalization solution that helps you engage with customers at the level of the Segment of One.
Brands use automated platforms to send personalized messages to customers across channels. Much of what is available by way of hyper-personalization is intrinsically tuned to work well in data-rich environments.
Domains such as offline retail, or businesses where most customers interact or transact infrequently, do not fit this mould and are therefore underserved when it comes to personalized targeting. Therefore, the intelligence built into systems that work in such cases is often rules-based, or driven by mission-centric models, or involves a number of decisions being made (some of them manually) without a governance layer to orchestrate them and maximize their overall impact.
What is needed, hence is a learning system that takes a holistic view of the intelligence needed for customer engagement. One that specifically solves for data sparsity as well.
What SOLUS does
SOLUS has three layers to it: Data | Relevance | Governance.
- The Data layer includes a Single View of the Customer and a Customer Genome.
- The Relevance Layer includes a Hybrid Recommender and Triggers
- The Governance Layer includes a Prioritization engine and an intelligent Governance system
SOLUS contains a data layer that synthesizes everything we know about the customer into a single view that enables better analytics. This is further converted to a customer Genome that allows one to find matching customers – one of the many components to the Recommender system.
SOLUS then uses multiple recommendation systems that solve for both data sparse as well as data rich situations to make recommendations. These recommendation systems draw on different Machine Learning methods to make product recommendations to a customer. SOLUS also learns what recommendation system works best for each customer.
SOLUS then has a learning system that learns which “reasons to talk” work best for each customer. These reasons to talk or Triggers range from deterministic Events to Score based triggers to Path based triggers.
Finally, orchestrating the overall engagement is a governance layer that determines which customers to target at what point in time, and how, and why.
The system continually learns and recalibrates itself from data, so that it always stays relevant. Put together these modules amplify returns on customer engagement by a proven 3X.
Out of the Box
Solus comes with retail capabilities out of the box including:
- Pre-built adapters to ingest data for 200+ data elements
- Pre-built 200+ pre-computed measures for Single for View of Customer across 7 dimensions
- Pre-built Propensity Models and Recommendation Models
- Pre-defined Business Missions, Conversations, Triggers and Messaging Templates.
- Pre-built Solus Performance Dashboard.
The SOLUS Impact
There are many ways to measure the impact SOLUS creates. The most powerful metric is improvement in Lift and here SOLUS has shown to deliver a 3X Lift as compared to traditional targeted marketing.
SOLUS has also shown improvements in business metrics despite lower discounting – after all its premise is that Relevance can nudge a behaviour, not just an offer.
Finally SOLUS allows for a rich understanding of customer behaviour and it’s response to different kinds of nudges because of its built in testing and learning systems.
Brands using SOLUS
Brands use SOLUS on top of existing marketing automation and CRM systems to amplify the returns on customer engagement. SOLUS is currently being used by 13 brands across Retail, BFSI and QSR verticals and has been delivering exceptional returns.
SOLUS is applicable to all brands looking at using technology and analytics to enhance their customer engagement. This includes:
- 1. Brands who are yet to get started on their CRM/ Marketing Automation journey but want to jump start the process.
- 2. Brands with CRM systems and programs in place who want to amp up the intelligence and relevance with which they are targeting customers
- 3. Brands who have already deployed Marketing Automation systems but now want to go beyond rules based systems to AI/ learning systems
Awards & Recognition
- In Oct 2019 SOLUS was a winner of the Aditya Birla Fintech Bizlabs 2019 competition in the Analytics category. The contest had over 1200 entries.
- In August 2019, SOLUS was featured amongst the leading Data Science Products from India