Algolia Launches Algolia Recommend
Algolia, providers of an API platform for dynamic customer experiences, today launched Algolia Recommend, an artificial intelligence-optimized API for creating and deploying product or content recommendation engines across digital touchpoints.
Algolia Recommend surfaces in milliseconds the most relevant recommendations, offers, or suggestions for shoppers using machine learning models that collect data from shopper behavior (the shoppers' actions across a website or app, including previous purchases) and product data (all product attributes contained in the product catalogue, including product, description, availability, and price).
Algolia Recommend initially includes two of the more popular machine learning models that automatically deliver tailored recommendations:
- Related Products: This recommendation model analyzes items a shopper interacts with (e.g. clicks, adds to a cart, and/or purchases) and suggests similar products during the same session.
- Frequently Bought Together: This recommendation model can upsell complementary items on the product page or shopping cart page based on how other shoppers have interacted with that same item during a single shopping session.
"The release of Algolia Recommend provides the next building block for retailers to optimize their online experience and increase their revenue. These retailers have already unlocked [more than] $1 billion additional annual revenue on the back of up to 1.7 trillion searches across Algolia's API platform," said Julien Lemoine, co-founder and chief technology officer of Algolia, in a statement.
"Due to COVID-19, a record number of retailers saw record growth in 2020, raising the stakes for practically every organization to have a digital commerce strategy. In this hyper-competitive market, merchants must provide customers with unique, personalized, and frictionless commerce experiences to succeed. An API-first tech stack is the foundation of these differentiated experiences. Algolia's API-first approach to search and navigation is well suited to enable the future of commerce. With Algolia Recommend, merchants and developers can add a new API to their toolkit to build more comprehensive digital commerce experiences and grow online sales," said Jordan Jewell, research manager for digital commerce at IDC, in a statement.
Orange Romania uses Algolia Recommend to retain and convert shoppers landing on out-of-stock products. "By recommending different but relevant products we were able unlock 8 percent more revenue on our online store," reported Florin Spataru, digital marketing manager at Orange Romania.