How Machine Learning Impact Product Personalization

Machine learning-based personalization has gained traction over the years due to volume in the amount of data across sources and the velocity at which consumers and organizations generate new data. Traditional ways of personalization focused on deriving business rules using techniques like segmentation, which often did not address a customer uniquely. Recent progress in specialized hardware (read GPUs and cloud computing) and a burgeoning ML and DL toolkits enable us to develop 1:1 customer personalization which scales. Recommender systems are beneficial to both service providers and users. They reduce transaction costs of finding and selecting items in an online shopping environment and improves customer experience.