The IRP Commerce platform, which has transacted more than €1.25 billion in e-commerce sales for UK and Irish companies and help enable Chain Reaction Cycles to become one of the UK & Ireland’s most successful online companies and the largest online bike store in the world, has taken another huge leap forward with the development of an Artificial Intelligence engine, DeepAgent.
DeepAgent analyses data in order to learn the actions that lead to more sales and profitability. It works on behalf of the e-commerce business to predict and then guide the moves the company needs to make to maximise its online sales.
Data is collected in the IRP Cloud from e-commerce probabilities and using statistical and Machine Learning algorithms, DeepAgent mines and analyses information to learn which steps to take. This is then fed back to the company so they can identify what to do next, removing speculation associated with e-commerce sales.
By suggesting practical decisions and changes to traffic channels and conversion, DeepAgent predictions have already seen significant results and increased year-on-year sales for some businesses – in some instances more than 100 per cent.
IRP Commerce founder, Daniel Loughlin said, “Finding a practical use for AI in business can be a challenge. Our approach directly links Artificial Intelligence to increased online revenues. The e-commerce industry is deeply complex and inefficient – this can change with the development of DeepAgent technology. DeepAgent AI gives companies a huge advantage over their competition and informs the actions to grow and take market share.”
One local company that is using the IRP platform and generating impressive results, is leading Irish retailer, HalpennyGolf.com. This multichannel retailer has a successful online and offline offering, selling into more than 30 countries worldwide and operating in more than ten currencies.
John Halpenny, from HalpennyGolf.com said, “Having a better understanding of which area of our site is not making money and having the opportunity to intervene to make the sale is incredibly valuable to a business owner. The IRP DeepAgent provides tangible data that can be utilised to improve long-term sales and profitability and offer a very effective and unique feature within a modern e-commerce platform.”
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