Customize your recommendation strategies with Algorithm Studio to unlock new hyper-personalization possibilities
How Dynamic Yield’s Algorithm Studio is bridging the gap between machine and human expertise
Recommendations have been a cornerstone of personalization for years, but as the market evolves, one-size-fits-all algorithms are no longer serving customers or brands. Consider a classic popularity algorithm. These excel at surfacing top-performing products, but in some cases, it would be much more impactful to display popular products that are tailored to a specific audience and prioritized for the highest margin. Every business is unique, with distinct customers, needs, markets, and strategies, and it’s vital for recommendations to support these nuances. Despite the increasing importance of flexibility, this has been difficult to account for without a solution that can be personalized to each business.
At Dynamic Yield, recommendations, particularly those leveraging our machine learning capabilities, are still essential to our customers’ recommendation strategies, but some instances call for more granular algorithmic enhancements to fit niche scenarios.
To bring this level of personalization to life, we developed an entirely new way to craft recommendation strategies. Algorithm Studio offers the ability to bring your own distinct strategy and combine it with our configurable algorithms. This is the latest in a suite of products that put power into the hands of the marketer to integrate powerful machine capabilities with human expertise. In Algorithm Studio, you have access to an easy front-end to tinker with the algorithmic framework and mathematical processing components of our recommendation strategies. This flexibility gives you the control and freedom to discover and build strategies that are tailored exactly to your customers and unique business needs.
Unleash your expertise with Algorithm Studio
Dynamic Yield’s Algorithm Studio supports the flexibility to adjust our recommendation algorithms to craft strategies that are completely personalized to your brand and customers. Algorithm Studio is a one-of-a-kind solution that enables you to refine algorithms across nearly every dimension, taking into account product performance, audience behavior, and product attributes.
Here’s a breakdown of how Algorithm Studio empowers you to customize your algorithms and what you can do with this powerful application:
- Fine-tune the weight of product performance metrics, such as add-to-cart and purchase rates, to ensure that the items your customers love get the visibility they need.
- Leverage the culminated understanding of your customers to create algorithms tailored to your key audiences. With this, you can serve up products that are not only relevant but also align with your customers’ preferences and habits.
- Activate your product attributes in Algorithm Studio to make recommendations based on profit margin or inventory to stay oriented with your business goals.
Tailor-Made Recommendations Across Industries
Configure algorithms dedicated to key audiences
By refining the dataset to consider only the behavior of select audiences, you can tailor algorithms to the most significant groups of customers for your business. For example, a grocery retailer can use this to develop algorithms for specific audiences, like vegetarians, to recommend products that perform well among that group and highlight foods that are compatible with their diet.
Promote products with high margins and low return rates
Boost products with high profit margins and demote items with a high return rate to retain profitability while still recommending the most relevant products to customers. On a holiday like Black Friday, this allows you to serve your most recent top performers while still prioritizing relevancy and revenue.
Bespoke recommendation algorithms, with you behind the strategy
Algorithm Studio plays a key role in reaching new heights of hyper-personalization. By establishing a stage for you to synthesize your unique business expertise with Dynamic Yield’s algorithmic framework, Algorithm Studio is pivotal in establishing your strongest recommendations yet that maximize revenue and brand loyalty.