Prioritizing actions with business levers

Often, due to an internal ad-hoc priority, the business would like to boost the chance of certain actions being selected. To achieve this, they would like to present more relevant offers to customers based not only on their behavior but also on business priorities. Learn how to include business requirements in an action prioritization calculation to boost the chance of an action being selected.

This video will show you how to include business requirements in an action prioritization calculation to boost the chances of an action being selected.

U+, a retail bank, noticed that one of the offers, the Rewards card offer, was not presented frequently enough due to its low propensity because customers ignored it during the initial launch.

For example, Troy, a customer, qualifies for two credit card offers – the Standard Card and the Rewards Card. When he logs in to the bank’s website, he sees the top offer for him, Standard Card.

Now, due to an internal ad-hoc priority, the bank wants to boost the chances of the Rewards Card being selected as the top offer. That is, the bank would like to present more relevant offers to customers based on not only their behavior but also on business priorities.

To implement this requirement, you must first enable the Action Weighting, a Business Lever, in Next-Best-Action Designer’s Arbitration equation. This ensures that an action’s business weight is used in the priority value calculation.

In this case, the bank wants to boost the Rewards Card. So, open the Rewards Card offer. Edit the offer to set a business weight, a value in percentage, that is required to boost the offer. In this case, U+ wants to increase the chances of this action selected by 10%.

Save the offer for the changes to take effect.

Now, when Troy logs into the website, he will see that Rewards card is the top offer.

This demo has concluded. What did it show you?

• How to include business requirements in action prioritization calculation.
• How to boost an action using business weight.