Today we’re focusing on the theme of unlocking data so with that in mind; we were treated to a session headed up by Jay Alger, Co-Founder and COO of Qloo, an app that makes personalisation recommendations across a range of categories.
Qloo has built an understanding of taste across the most important areas of culture and entertainment – Music, Film, TV, Dining, Nightlife, Books, Travel and Tech.
Today brands aren’t just dangling candy at you by the till, they’re examining your shopping basket and comparing you to millions of other consumers. While this can be a scary prospect, Jay was keen to highlight the more positive and exciting aspects.
When brands get it right, they can give you an amazing gift, discovering something you may never have found were it not for them.
Getting it right also means big bucks for brands.
Amazon’s various attempts at offering personalised recommendation, from the landing-page all the way through to shopping carts, is a shining example of the numbers speaking for themselves: 30% of their revenue comes from these types of suggestions!
However, in too many of today’s leading consumer-facing personalisation offerings, intelligence is locked within a single channel. Jay discussed a more complete approach to understanding and predicting consumer taste across multiple categories of culture and entertainment.
With taste mapped across channels, there are an incredible amount of other opportunities that just wouldn’t exist.
Using these types of systems is doing much more than just adding value to the customer experience, brands can learn so much more about their consumers.
The future is looking bright – this data will open up a whole new world and enhance the consumer experience beyond recognition.
