Ably, Meta develop AI-based ad measurement tech

Its marketing mix modeling uses customer behavior data to raise assessment accuracy

Ably, Meta develop AI-based ad measurement tech
Jung-Rak An 1
2023-10-12 14:37:14 jran@hankyung.com
Korean startups

South Korean fashion commerce platform Ably Corp. on Thursday announced the world’s first artificial intelligence (AI)-based technology for assessing marketing channels in collaboration with Meta, the global tech giant that runs Facebook and Instagram.

The technology uses marketing mix modeling, which analyzes the correlation between variables like the weather and promotions and the effectiveness of advertising. The method reflects customer behavioral data such as user inflow and purchase conversion rate based on real-life ad exposure to raise measurement accuracy.

Ably said this uber-advanced technology can maximize results at the same cost by quantifying the effects of each marketing channel.

This can also boost the attraction of new customers as well as encourage repeat purchases, it added.

Growing based on technological advancement, Ably since its inception has developed and used its own AI-based recommendation algorithm.

The company said its convenient shopping environment that recommends items matching consumer tastes boosts turnover for sellers and in turn attracts new customers, forming a “model of a seller-user virtuous cycle.”

“Our collaboration with Meta will have a major impact on digital marketing worldwide as well as domestically,” Ably co-founder and CEO Kang Seok-hoon said. “We will emerge as a leading tech company in the sector based on our accumulated capacity and competitiveness in tech innovation.”

Write to Jung-Rak An at jran@hankyung.com
#Ably #Meta #AI-based #marketing mix modeling #customer behavioral data

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