Formation Secures Patent for Dynamic Offer Optimization
Formation has received a U.S. patent covering its recently launched Dynamic Offer Optimization platform.
The interactive gaming system patent, No. 11,030,636, covers the core methods to provide gamified personal offers at scale using machine learning and automation. It also covers the application of machine learning to offer assignment, personalization, and optimization and the automation of processes to construct, monitor, and analyze offers based on user interactions and other data.
Through Dynamic Actions & Rewards, the Formation platform and its patented approach leverages machine learning technology to personalize offers for each individual customer and to optimize subsequent offers.
This new patent further extends the unique and proprietary personalization capabilities of the Formation platform for B2C marketers, Formation CEO Christian Selchau-Hansen, said in a statement. "The functionality underpinning this new patent goes far beyond the next-best offer optimization algorithms we see in the marketplace today and instead delivers true offer personalization through a process we call Dynamic Offer Optimization. Enabled by machine learning and automation, these newly patented capabilities within our optimization platform enable brands to send millions of tailored offers at enterprise scale."