AI and automation have been continually evolving marketing operations in the past decade. Teams that are using technology effectively are streamlining processes which ultimately lead to a greater ROI.
Several AI technologies are driving B2B operations efficiency and enhancing precision from within marketing operations. In the fast-paced environment in which we work, new terminologies for these tools and techniques are cropping up all the time. To demystify the jargon surrounding AI and automation, our experts at Algomarketing have compiled a comprehensive list of all the terms you should know.
The piece is the essential AI and automation glossary of all the terms and definitions you need to fully understand the technology you are using.
Algorithmic Marketing: the sophisticated technique of seamlessly integrating AI and robotic process automation to enable more efficient and effective marketing operations
Generative AI the subset of AI that generates data or content based on patterns using user input data. Examples of this include Open AI’s Chat GPT, Google Gemini, DallE3 and Meta Llama2 .
Generative BI is the convergence of Generative AI and traditional Business Intelligence tools that enables users to query and interpret data through natural language, eliminating the complexities of traditional methods. Generative BI can be thought of as an AI-driven approach where a Large Language Model (LLM) translates a users’ natural language query to generate SQL (Structured Query Language) scripts to retrieve and aggregate information which is then presented visually through dashboards in real-time.
Predictive analytics, refers to the field where machine learning algorithms are used to predict a future outcome such as customer behavior or intent, forecasting trends such as sales, product adoptions etc.
AI can also power sales forecasting and optimization. Here, models are trained on historical sales data to predict future trends, and these forecasts are used to underpin strategic decision-making.
Customer segmentation and personalization through clustering and classification is an effective means of segmenting customers into distinct groups based on their behaviors and preferences. These techniques identify the needs of every customer and then target each individual or segment through personalized messaging, using appropriate channels at the most impactful time and frequency to achieve campaign goals.
Chatbots can provide 24/7 customer service, manage customer inquiries, and offer personalized recommendations. Combined, these convenient and efficient features of customer service can lead to superior engagement and more time for colleagues to focus on more complex, value-added tasks that require a human touch.
From an advertising standpoint, programmatic advertising is the process of automating the buying and selling of ad inventory in real time. With marketing teams under pressure to do more with their budgets, this provides a crucial helping hand by targeting their key demographics more precisely helping budgets go further.
A Large Language Model (LLM) is a deep learning algorithm that can take user input in natural language and carry out a variety of tasks such as text summarisation, expansion, translation and transformation. Merged together with other technologies such as information retrieval, it can enable marketers to identify customer trends through social listening tools and sentiment analysis.
Deep learning is a subset of machine learning that imitates the ways humans process information. It uses billions of artificial "neurons" structured in several "deep" layers mimicking the human brain. This enables the algorithm to achieve remarkable accuracy in predicting tasks. It can be used to develop engines that help marketers to deliver hyper-personalized content for customers.
Robotic Process Automation (RPA) is a software technology that allows the automation of digital tasks by creating, deploying, and managing software robots that emulate human actions interacting with digital systems and software. Marketers can streamline tasks through RPA. This allows tasks such as data extraction to be completed more accurately and make better understanding of customers.
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By harnessing the power of algorithms, at Algomarketing we unlock incredible efficiencies, drive innovation, and scale operations like never before through AI, automation, and machine learning expertise. We empower sales and marketing leaders to confidently make data-driven decisions, ultimately driving increased ROI. Meet the team at AntiCon 2024.