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Webinar: Guest Forrester Analyst Reveals Why Cognitive Search Matters for Ecommerce

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Hear guest speaker, Forrester Wave author Mike Gualtieri, discuss the importance of cognitive search and provide insights behind the newly published report, The Forrester Wave™: Cognitive Search, Q2 2019, in which Lucidworks is named a Leader.

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Webinar: Guest Forrester Analyst Reveals Why Cognitive Search Matters for Ecommerce

  1. 1. Use Cognitive Search To Power Personalized Digital Commerce Experiences Mike Gualtieri, VP & Principal Analyst June 2019 – Lucidworks Webinar
  2. 2. #Priority
  3. 3. For you For all For segments For you Demographic Relationships Customer-centric Real-Time Relationships Personal Relationships Mass Relationships CustomerExperience 1800 1900 1950 2000 2015
  4. 4. #Royalty
  5. 5. Customers want and increasingly expect to be treated like royalty.
  6. 6. • Learn individual customer characteristics and behaviors • Detect customer needs and desires in real-time • Adapt applications to serve an individual customer in real-time Royalty experiences are powered by customer-centric decisions that:
  7. 7. 100 million cards-in-force Celebrity experiences are hard to scale 6 million active customers 390 million visitors/month 1.8 vehicles per year 325 million citizens
  8. 8. Royalty experiences are hard to scale...
  9. 9. …because personalizing commerce content is impossible…
  10. 10. …without AI.
  11. 11. Standard course for Internet giants, but nascent for most large organizations.
  12. 12. Forrester recognizes two kinds of AI: Pure and Pragmatic.
  13. 13. Pure AI are technologies that strives to mimic human intelligence…
  14. 14. Pragmatic AI is narrower in scope, but meets and often exceeds human intelligence.
  15. 15. AI is not one technology. It is comprised of one or more building block technologies. PhysicsDataHumans
  16. 16. © 2015 Forrester Research, Inc. Reproduction Prohibited 18 Twitter: @mgualtieri Pragmatic AI Nope! Yep! Huge pre- requisite
  17. 17. Digital search technology that employs AI technologies such as natural language understanding and machine learning to ingest, organize, and query from multiple digital data sources . COGNITIVE SEARCH
  18. 18. 21© 2016 Forrester Research, Inc. Reproduction Prohibited Cognitive search Keyword search has evolved nicely to AI- powered search Sci-fi
  19. 19. Cognitive search allows people to find digital content from multiple sources.
  20. 20. Cognitive search allows people to find answers.
  21. 21. Cognitive search allows people to find people.
  22. 22. Cognitive search powers vertical and horizontal applications including digital commerce.
  23. 23. #Technology
  24. 24. The Forrester Wave™: Cognitive Search, Q2 2019 “Employees and customers have an insatiable need for information. Cognitive search delivers it.” “Top cognitive search vendors use more and varied AI technologies, such as natural language understanding (NLU), machine learning (ML), and deep learning.”
  25. 25. 28© 2018 FORRESTER. REPRODUCTION PROHIBITED. Forrester developed evaluation criteria from both buyer and vendor research › Intelligence • Intent • Relevancy • Search • Tuning › Information • Connectors • Ingestion › Operations • Usage analytics • Tuning tools › Security • Access • Certifications › Architecture • Deployment • Scalability • Availability › Applications • Pre-built applications • Custom applications
  26. 26. 29© 2018 FORRESTER. REPRODUCTION PROHIBITED. Forrester developed evaluation criteria from both buyer and vendor research › Strategy • Ability execute • Solution roadmap • Pricing transparency • Customer service • Partners • Community › Market presence • Customer adoption • Evaluated product revenue • Market awareness
  27. 27. The Forrester Wave™: Cognitive Search, Q2 2019 “Lucidworks rocks open source, exponentially” “Enterprise customers that gravitate toward open source solutions will find that Fusion adds significant value above and beyond Apache Solr.”
  28. 28. #Commerce
  29. 29. Retailers spend billions on ads to drive prospects and customers to digital commerce experiences.
  30. 30. Cognitive search uses NLU and ML to understand product descriptions, specifications, and images.
  31. 31. Cognitive search uses ML to predict and profile characteristics for each customer.
  32. 32. 35© 2019 FORRESTER. REPRODUCTION PROHIBITED. Cognitive search supports multiple channels and continuously learns from each customer engagement. Customer profile Product content Experience 1 Experience 2 Experience 3 Customer data Product data CS repository Cognitive search (CS) Relevant content New and existing channel technologies Existing databases Continuous learning from new data Third-party data
  33. 33. Determine if you should you make an offer or send a gentle nudge right now?
  34. 34. Find relevant product content that leads to conversion right now?
  35. 35. Image source: iStockphoto Leverage in store engagement to personalize online shopping.
  36. 36. The Forrester Wave™: Cognitive Search, Q2 2019 “Employees and customers have an insatiable need for information. Cognitive search delivers it.” “Top cognitive search vendors use more and varied AI technologies, such as natural language understanding (NLU), machine learning (ML), and deep learning.”
  37. 37. Consider these six factors in choosing a cognitive search platforms.
  38. 38. #Information
  39. 39. Garbage In = Garbage Out
  40. 40. Organizations have dozens and hundreds of applications that generate valuable data.
  41. 41. © 2013 Forrester Research, Inc. Reproduction Prohibited 45 Organizations’ data is super rich - needed for successful, pervasive machine learning › Customer transaction data › Point-of-sale data › Customer and supplier contract data › Inventory data › Supply chain data › Product/service data › ERP and manufacturing data › Supplier transactions › R&D data › Sales and CRM data › Marketing/advertising data › Human resources data › Finance/accounting data
  42. 42. Data is the raw fuel of cognitive search.01001100110110 01001100110110
  43. 43. Algorithms get the press, but data leads to success.
  44. 44. Choose a CS solution with pre-built data/content connectors and includes and SDK to create customer connectors.
  45. 45. #Intelligence
  46. 46. Cognitive search is AI-powered search.
  47. 47. The first step in finding personalized information is to understand the user’s intent and context?
  48. 48. To offer relevant information, cognitive search must find a needle in a haystack every time a person initiates a query.
  49. 49. Search queries should support multiple query modes to explore list of results and answer singular questions in a conversational interfaces.
  50. 50. Cognitive search leverages every user interaction to automatically tune relevancy.
  51. 51. If you want relevance you need intelligence.
  52. 52. Choose a cognitive search solution that maximizes AI for intent, relevancy, query mode, and tuning.
  53. 53. #Operations
  54. 54. Cognitive search solutions are like us; they sometimes need help.
  55. 55. Usage analytics lets you measure the success of cognitive search.
  56. 56. Tuning tools let you boost and bury search results to improve relevancy manually.
  57. 57. Tune with tools to rule.
  58. 58. Choose a cognitive search solution that provides usage analytics and manually tuning tools.
  59. 59. #Applications
  60. 60. Pre-built applications and/or solution accelerators can make cognitive search applications quick.
  61. 61. Many cognitive search solutions provide SDK and visual development tools to embed or create custom applications.
  62. 62. Infuse it to use it.
  63. 63. #Architecture
  64. 64. If search goes down, business goes down.
  65. 65. Applications and data exists everywhere – on- premise, cloud, and edge.
  66. 66. Search must scale to handle an increasing number of data, content, and customers.
  67. 67. It ain’t fun, if it don’t run.
  68. 68. Choose a cognitive search solution that employs scalable, high-availability, and cloud design maxims.
  69. 69. #Innovation
  70. 70. AI is innovating rapidly…
  71. 71. …in the open source community.
  72. 72. Leverage the force of open source.
  73. 73. Choose a cognitive search solution that keeps pace with AI innovation.
  74. 74. #Advice
  75. 75. Hyper-personalize digital commerce experiences.
  76. 76. Enjoy more conversions and more wallet share.
  77. 77. The Forrester Wave™: Cognitive Search, Q2 2019 Use AI-Powered Cognitive Search to hyper-personalize digital commerce at scale.
  78. 78. FORRESTER.COM Thank you © 2019 FORRESTER. REPRODUCTION PROHIBITED. Mike Gualtieri mgualtieri@forrester.com Cognitive sea
  79. 79. Activate brings together the brightest minds in search, AI, machine learning, data science, analytics, and UX to deliver rich digital experiences. Unlock value from data and connect users to information, insights, and each other. Register by July 26 to save $400 with the early registration rate and save an additional 20% when you use code CS19 at www.activate-conf.com
  80. 80. Questions? Please enter your questions into the chat box now

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