Evergage, The 1-to-1 Platform company, today announced it is a winner in the 2019 Golden Bridge Awards® – honored for applying industry-leading artificial intelligence (AI) to improve digital engagement and conversions. Evergage was recognized in the “Best New Product: Marketing Solution” category for its Contextual Bandit machine-learning algorithm – which delivers split-second personalization that blends what’s best for the individual with what’s best for the business.
The Golden Bridge Awards celebrate the world’s best in organizational performance, products and services, executives, management teams and more. Organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. This is the fifth year in a row Evergage has been a winner in the program.
“Companies need to earn their customers’ loyalty every day – and that means showing customers that they know them,” said Andy Zimmerman, chief marketing officer, Evergage. “Evergage’s personalization and customer data platform (CDP) makes it easy to synthesize and act on data, at the 1-to-1 level, to deliver helpful, timely and relevant experiences. Contextual Bandit is especially groundbreaking because it factors in such a large number and variety of data points, and considers not only which assets and offers will resonate most with each individual, but also the impact of each offer on the bottom line. We’re honored to be recognized again in the Golden Bridge Awards for Evergage’s commitment to innovation and to our clients’ success.”
Unveiled late last year, Contextual Bandit processes and acts on vast stores of data – using sophisticated machine learning, a subset of AI, to deliver optimally selected experiences at the individual level. Companies can automatically deliver the most relevant content, offer, promotion or complete experience to each website visitor, application user or email recipient. The algorithm balances an individual visitor’s likelihood of engaging with each available offer or asset with the business value of that item for the company and determines the best experience to display – all in less time than the blink of an eye.
Contextual Bandit taps into Evergage’s deep behavioral tracking and CDP to determine up-to-the-moment information on each visitor’s attributes, interests, and intent. Effective with both first-time and frequent visitors, the algorithm is always getting smarter to continuously optimize experiences. Contextual Bandit also factors “promotion-fatigue” into experience delivery – taking into account how often someone has seen a promotion without acting on it and learning the right time to show that person something new.
This marks the second award for Contextual Bandit this year – following its gold (highest-level) Stevie® Award win for “Best New Product: Marketing Solution” in The 2019 American Business Awards®. For more information on the Contextual Bandit machine-learning algorithm, please click here.
