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Kilzi highlights importance of AI-based data analysis for merchants
Michel Kilzi, Founder & Co-CEO of Cashcall, highlighted the importance of AI-based data analysis for merchants, expounding the stages through which raw data passes until reaching the stage of actionable insights.
He made the remarks during the Second Egypt Business Solutions Summit which kicked off on Monday under the theme of “Fill the Gap” with the participation of Ministers Yasmine Fouad of Environment and Soha Gendi of Emigration.
He explained that diversity of behavior – like payment methods – is very important data to merchants, adding that Cashcall has commitment towards its clients to treating data as this has lots of values.
Kilzi said many things can be discovered through data chaining and data mapping, noting that merchants have many challenges, especially in online business.
Exploring stages of data analysis, he accentuated that insights can help merchants to “visualize data and insights” through a dashboard, then these insights should go in another stage of AI-based analytics.
The first step is descriptive analytics to discover patterns, attributes and behavior, then put the data in harmony so that the company can come up with needed results, he said.
The second stage is moving to predictive analytics to guess what will happen tomorrow, Kilzi said, noting that looking for customer life-time value is very important parameter of customer experience.
“This prediction can create opportunities,” he highlighted.
The third stage is arbitrage analytics which re-arranges opportunities, select highest probability of adoption and put them in contextual journey.
These stages pave the ground to move to actionable insights which help merchants to take the proper decisions, he concluded.
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