Located in Minneapolis, MN, Toovio, a SaaS-based marketing solution provider, offers Big Data solutions to help businesses make smart decisions and adapt to current market requirements in the Big Data space. Combining Big Data with machine predictive modeling and decision management, the company’s Toovio platform, a real-time mobile messaging optimization technology, increases the engagement, response and revenue for the marketers. The Toovio platform offers digital mobile subscriber events such as “open app”, “check balance” and “recharge account” to the customers. The essential mobile offers for the consumers are chosen on the merits of predictive outcomes associated with the data characteristics present in a real-time moment. Toovio’s Adaptive Predictive Engine chooses the required events addressed through the Adaptive Predictive Models in the platform. If there are 100 events in the Toovio system then there are equal Adaptive Predictive Models representing one for each event. “From our standpoint, the eminence of predictive algorithms is widely accessible in the platform by means of open source university libraries,” explains Smith. Data is retrieved like ‘needles in the haystack’ through the Adaptive Subscriber Profile and fed into the required algorithms in the model.
Although Toovio uses several algorithms behind the process, the system shows the end-user a decision tree algorithm for each predictive model. Machine segmentation—a byproduct of Adaptive Predictive Models—will show the marketer a unique “segment” of the customers’ most interested and disinterested offer.
Being a bow hunter, Smith pursues the strategy ‘aim small miss small’. Likewise, “contextual data is our ‘small target’ and we don’t want to miss by much. If we know the data that is most predictive and most discriminate then we ‘aim’ our marketing efforts and strategies at those data elements,” describes Smith.
Our platform is a combination of Big Data, Machine Predictive Modeling and Real- Time decision management
Moving forward, Toovio plans to expand its marketing ability to apply in other sectors. “By the end of this year, Toovio will be partnering with the existing mobile messaging providers to offer solutions for various other industries,” concludes Smith.