At Chatterbox Labs we are working with the largest technology companies globally who are utilising our highly disruptive NLP Machine Learning solution to identify in real time the information that matters most to them! The outputs we provide in terms of highly accurate classified data can be used in so many ways; for advertising re-targetting, CRM data enrichment to increasing the value of geo-tagged messaging across the globe.
We realise not everyone is ready to adapt to real-time actioning of what we find; we know our solutions, as one distinguished business leader recently complimented us, ‘are 18 months ahead of the curve’. However our solution is ready now and being integrated into multiple use cases for our partners to take advantage of and to start driving new revenue streams.
We thought it would be useful to highlight the power of our first product ‘Path 2 Purchase’ in terms of a project we did looking at historical data for a major car manufacturer. We took the entire 2013 Twitter stream for Audi and passed it through our product; a dataset of 2.06m messages was processed in 6 minutes!
We used our advanced machine learning classifiers to remove the noise and find the data that related to pre-purchase intent and post purchase chatter.
We classify pre-purchase intent into 3 categories; Interest, Consideration and Lead Validation – Lead Validation is when someone has firmly indicated they are going to buy; most probably an Audi in this instance but of course they might waver at the last minute. If you assume the average price of an Audi is £24,855 (and in many cases it is substantially more) then we identified a dataset value of £493m in this category alone!
We fully understand this is a total ‘market’ of leads identified and not all would convert but many of these buyers can’t be found through other methods such as email, web browsing and even cold calling or customer engagement. As the consumer embraces different avenues and methods on their increasingly fragmented ‘path to purchase’ the need for real-time analysis and action based on social and other inputs is imperative to closing the deal.
If you want to know more about Chatterbox Labs; our NLP Framework or Path 2 Purchase product please contact Andrew Watson, VP Strategic Alliances – Andrew@chatterbox.co or visit our web site www.chatterbox.co