Next-Best Action Task

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A Next-Best Action Task is a recommendation task where the result size is a single recommendation item.



References

2021

  • https://uplandsoftware.com/bluevenn/resources/blog/what-is-next-best-action-and-how-to-use-it-to-evolve-the-customer-experience/
    • QUOTE: ... Next Best Action (also known as best next action, next best activity or recommended action), is a customer-centric approach to marketing that considers multiple different actions that could be taken for a specific customer and then decides on the best one to provide. Moreover, Next Best Action commonly requires the need for automated self-learning decisions, using machine learning, to make a decision in real-time that will improve the chances of a conversion at the moment that a customer is making a purchase decision.

      The Next Best Action (to deliver the relevant offer, proposition or service) is determined through a combination of the customer’s interests as well as the objectives of the business. For example, as a marketing team your simple objective might be to sell a specific product or product range during an offer window, but must be balanced with how the customer likes to be contacted and the likelihood for them to have an interest in that product or product range.

      When implemented correctly, Next Best Action can become a continuous way of engaging with customers in the right way, with the most relevant content or offer, using the right channels. Most importantly, it is an automated process that is self-optimizing to ensure it improves over time, which means that it requires very little manual intervention, and becomes entirely ‘customer-centric’. ...