Absolutdata, a leading data analytics firm, launched an artificial intelligence-driven decision engine: the NAVIK AI Platform. It is built using the Absolutdata Decision Engineering Methodology™ that is transforming how decisions are made at the world’s leading brands. The NAVIK MarketingAI and NAVIK ConceptAI join the NAVIK SalesAI solution (released earlier) to bring dramatic improvements in the effectiveness of sales and marketing.
“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,” Kaul explained.
A $20mn venture founded in 2012, Absolutdata combines decision engineering with advanced analytics to transform how companies make decisions. The NAVIK AI Platform has taken away the need for a data science team as it combines data, analytics, and technology to optimize decisions seamlessly in real time.
NAVIK AI platform includes an AI Design Lab with a machine learning library, self-learning model builder, and text mining lab. At its heart is the Decision Engine with a prediction simulator, decision option generator and recommendation 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.
Brands report positive results with NAVIK AI Platform
NAVIK MarketingAI hyper personalizes offers and can be used by non-technical marketing people. A customer conducted AB email marketing test for eight weeks and found that campaigns that used NAVIK experienced a 51% increase in revenue from opened emails, 31% more customer bookings and a two-fold increase in revenue from people who weren’t loyalty program members. The tables are turned for the brand who was tired of ‘one and done’ customers that never returned.
In another case, a global industrial supplies leader that witnessed plummeting sales used NAVIK SalesAI to generate a weekly plan for one sales group. It directed another peer group to proceed as usual.
The NAVIK SalesAI tool provided the team guidance on which accounts, contacts, and opportunities to pursue with specific products and messages. In seven weeks, the SalesAI-guided team generated 2% more sales than the control group, a 2% increase in pipeline value and a 1:7 close rate for recommended products.
The NAVIK ConceptAI tool is used by brand managers, product managers, and researchers to conduct studies faster and more frequently with decisive Go/No Go results. This growing NAVIK line of cloud-based products is revolutionizing the way sales and marketing teams operate and maximize results. The upgraded machine learning and artificial intelligence capabilities are free to current customers.