Black Friday is nirvana for shopping enthusiasts, or the nearest thing to hell for those who avoid shopping like the plague. The machine learning technology of Quantum Metric may well be monitoring your progress on shopping websites to make sure you have a painless checkout (if there is such a thing). The company has just issued the following press release:
Because of increasingly complex online shopping carts, billions of dollars in online shopping are lost when users can’t complete a checkout due to malfunctioning websites. Innovations in the field of Machine Intelligence and Web Analytics are enabling eRetailers to discover this user abandonment automatically, helping ensure frustration-free online shopping experiences and increased online conversions. Quantum Metric, a Colorado SaaS startup, is using behavioral pattern recognition to understand when customers are frustrated while shopping online, helping recover over $200M in lost online sales in 2016.
Processing over $20B of eCommerce transactions and over 750,000 requests per minute, Quantum Metric sifts through analytical data looking for groups of consumers who don’t make a purchase because of a poor user experience. Tracking behaviors like rage clicking a broken “Add to Cart” button, shoppers experiencing errors and frustration can be grouped together to provide a prioritized list of the various revenue impacting issues affecting a website. The shift from manual data mining by data scientists to automatic discovery is allowing organizations to rapidly respond and correct revenue-blocking website issues. The end result is allowing eRetailers to understand where, when, and how many customers are walking away because of a failure, without waiting for users to call/email/tweet their issues.
With explosive demand for Machine Intelligence in online shopping analytics, enterprises and leading startups in the airlines, travel, financial services, and retail industries are embracing new automatic frustration detection technologies. Enterprises are seeing full returns of their investment within weeks, with long lasting effects on their brand from perfect customer experiences.
Quantum Metric simplifies discovery of digital customer struggle. With the unique perspective of quantifying revenue impact, Quantum Metric helps enterprises identify and prioritize customer experience improvements. Applying Machine Intelligence to advanced behavioral and predictive analytics, Quantum Metric provides insights in minutes that traditionally required hours of data science. Enterprise integrations include Oracle Marketing Cloud, Qualtrics, and leading eCommerce platforms.