As competition intensifies, companies across sectors are shifting to ‘explainable AI’ for marketing analytics for better returns on investments. Explainable AI is a set of tools that provide the user the underlying reasons for the predictions of the machine learning models. This understanding demystifies AI modelling, making analytics more accessible to the company and enabling further study of the predictions. The global ‘explainable AI’ (XAI) market size is set to reach USD 21 billion by 2030 from USD 3.5 billion in 2020.
Generative AI tools, like ChatGPT are disrupting search marketing with its ability to comprehend natural language queries. Taking it a notch higher, many companies have integrated Microsoft’s Conversational AI into their marketing analytics solutions.
Skewb Analytics is one such start-up that is providing cutting edge AI applications for marketing analytics that enable organisations to exploit their potential. Cofounder and CEO of Skewb Analytics, Sandeep Pandey, said “Explainable AI holds the future of marketing analytics. This is already democratising analytics usage and enabling enterprises to get a deep dive into what investment options can give them the best return in minimal cost. Businesses can measure RoIs (Return on Investments) and save costs using this technology.”
Analytics powered by AI and ML help marketers to align their campaigns according to the customers’ changing preferences. Also, pattern identification assist in learning customers’ mass behaviour and user patterns which is beneficial for customizing campaigns geared towards achieving more conversions and sales.
Many business verticals are leveraging marketing analytics to design and implement their marketing plans. Retail, CPG, D2C and e-commerce are the sectors that are most active with this. Automakers are utilizing this technology to streamline their dealership networks.
About Skewb Analytics
Skewb Analytics is a data analytics firm formed by Sandeep Pandey, Snigdha Gupta and Shubham Chhajed during the pandemic. It supports companies to unlock the full potential of marketing analytics through AI. Combining their knowledge and experience in the analytics space, they provide businesses the best possible solutions to maximize their marketing strategies, while helping them adjust to their customers’ current needs.
