Machine Learning Algorithms: The Next Stage For Successful Marketers - Brand Quarterly

It's no secret that technology is revolutionising consumer and brand interaction. In most cases, consumers are changing their behaviour faster than most retailers can adapt their marketing strategies. Marketers must engage savvy shoppers across a plethora of channels, the competition is intense, and customer satisfaction and retention have become top priorities for most brands. In our modern era, it is imperative to know and UNDERSTAND who our customers are, what they like/dislike, what will motivate them to buy or buy again, and why they leave. It is vital to have a forward-looking approach and to predict answers to questions such as: "What will my customer be interested in next week? In which city is my customer likely to shop? What is the most effective channel to connect with customers when they are ready to buy? Which products are my prospects waiting for?"