Personalization Glossary

At PSYKHE, we're obsessed with the why: Why do we like the things we like? Why does one person like a pair of shoes, a sofa, a travel destination, or a song, while someone else does not? Understanding all the factors that drive individual taste, including personality and psychographic data, enables us to create the world's most sophisticated recommendation engine. After all, you can't personalize without personality. Shaping a stellar recommendation strategy is a big job, so to help you grasp what a complete AI personalization blueprint for your business entails, we've collated definitions related to personalization here.

Predictive Analytics

A branch of advanced analytics, predictive analytics combine a variety of statistical techniques that analyze both current and historical facts to predict future outcomes more accurately. Using historical data, statistical algorithms, predictive modeling, and big data machine learning techniques, a predictive analytics system is able to reliably forecast future events, trends and behaviors. In general, businesses apply predictive analytics to find patterns in data that help them identify potential risks and opportunities. In marketing, one of predictive analytics's main assets is that it allows businesses to develop clear-cut customer segmentation and make precise conversion and purchase predictions.