Recommendation Engine
Recommendation system is a software which analyzes the available data and give suggestions in which, the user might be interested in. Recommendation system uses various AI-Ml Algorithm to find patterns based on available data and recommend a product or service.
Recommendation Engine
- Measure how many of the actual positive instances we were able to correctly predict
- Accuracy of the model
- Shows the actual and predicted labels from a classification problem
- How accurately The engine classifies the data
- Best performing model
- Factors affecting the accuracy
- Ranks the list of items based on their relevance in a particular task
- Quality of ranked search results over a set of typical search queries
- Determines the best model by rank
- Ratio of users for which the correct choices is included in the recommendation list of length
- High Accuracy implies high chances of correct recommendation
- Hit rate may be measured for the whole sales force or by sales region
- Ratio of correct answer to all answer
- Measures the accuracy of recommendations
- Regions to be optimised
Media
- See how your brand influences your target audience
- Total number of unique users who have seen your piece of content
- Identify the number of users who might see the content during a period
- Number of new followers on your platform within a period
- Total number of subscribers you attract
- Find out about your growth rate and if your community is growing or stagnant
- See how well your content resonates with your target audience
- Number of times a content has been shared on various platforms
- Number of likes, comments, replies received
- Measure the effectiveness of your web visits
- Number of times users visit your platform
- Average length of time a user spends and number of pages visited during one session
- Combined traffic from all social media channels within a period
- Origin of your platform traffic
- Category of the traffic source
Procurement
- Defect Rate by Supplier
- Analysis of the Defect Type and Defect Rate will offer actionable insights about a supplier’s trustworthiness
- Lead to important business decisions
- Lead Time in Days
- Measure the amount of time between when a supplier receives an order and the time when the order is shipped
- Lead time also confirms vendor availability
- Purchase Order Cycle Time in Hours
- Measure in hours or days from the time a purchase requisition is submitted to the time when it is transmitted to a vendor
- Avoid overspend on wasted purchases or lacking in urgency to stock products
- Compliance Rate by Year
- Analyse the company’s risk management strategy
- Establish programs to consistently and accurately govern the compliance policies over time
- The amount of spend managed by procurement out of total company spend
- Identify sourcing potential and opportunities for savings
- Enhances business profitability, reduces cash leakage and minimizes supplier risk
