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 changes of this action selected by 40%.

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.

In Customer Profile Viewer, you can examine the detailed results of the total lever weight after your updates, for the customer Troy.

First, view the next-best-action decision to learn more about the details of the actions for which Troy qualifies. For the current use case, the direction is Inbound, and the channel is the Web.

TopOffers is the real-time container service that manages communication between Customer Decision Hub and the website of the bank.

When you request a decision for Troy, the Customer Profile Viewer shows you the offers for which Troy is eligible.

In the Explain prioritization view, you can see how the final Priority is computed, based on 4 factors: Propensity, Context, Business Value, Business levers. In this specific example, you can see how the Total lever weight influences the ranking. Even though the Final Propensity is higher for the Standard Card, the Rewards Card is ranked 1. This is caused by the Total Lever Weight factor, which is now 1.4 for the Rewards Card because the lever for this card was increased by 40%.

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.