HiConversion’s optimization engine leverages artificial intelligence and real time multivariate modeling to maximize e-Commerce revenue.
Boca Raton, Fla. – Nov. 27, 2012 (For Immediate Release) – HiConversion, Inc., a leading e-Commerce Revenue Performance Management (eRPM) software and services company, announced that on November 27, 2012, it was granted a new patent by the United States Patent and Trademark Office: U.S. Patent # 8,321,359, METHOD AND APPARATUS FOR REAL-TIME WEBSITE OPTIMIZATION.
This patent, which is HiConversion’s second since 2010, further solidifies the value and importance of HiConversion’s intellectual property as it relates to the management of e-Commerce websites.
There are three major benefits associated with HiConversion’s real time website optimization technology. First, HiConversion’s technology leverages its adaptive multivariate optimization capabilities to produce predictable and directly measurable revenue growth from a company’s existing web traffic. Second, this technology provides actionable insight into unique visitor preferences, further empowering e-Commerce companies to make data-driven decisions about budget spend and other items that can further improve online sales. Finally, HiConversion’s adaptive algorithm has the ability to adapt to the time-varying nature of web visitors’ behavior by continually presenting options that have the highest probability to succeed. This capability is disruptive to traditional A/B, MVT, and rules-based targeting solutions that operate on the basis that visitor reactions are steady and that the winning version of the page or promotional badge will always produce good results.
“The time-varying nature of web visitor behavior is poorly understood by online marketers and e-Commerce managers. This leads them to think that certain targeting options will always work, or that the “winner” of a multivariate test they have completed in the summer will produce a revenue lift during the holiday season. These mistakes can cost e-Commerce brands hundreds of millions of dollars in non-realized revenues,” said Zee Aganovic, the company’s founder and CEO. “Our real time website optimization patent attests to the quality of the innovations put forth by our engineering team, and also protects the unique capability of e-Optimizer® – our flagship optimization platform – to continually collect data, analyze its revenue impact, and act in real time to produce predictable revenue growth. We expect that many e-Commerce CEOs, CFOs, and CMOs alike will realize that e-Optimizer® is an essential tool for a sustainable revenue growth strategy, and that its capabilities are swiftly becoming a mandatory best practice.”
The company’s optimization method was developed through empirical experience with hundreds of major e-Commerce sites. This has led to major discoveries such as the time-varying nature of visitor behavior, and that even minor website modifications can impact all of the other existing elements on a web page.
HiConversion’s adaptive multivariate optimization engine leverages these interdependencies by building a multi-dimensional model that correlates the impact of alternative values of page elements, such as promotions, banners, and navigation. A feedback loop is then used to continually update both HiConversion’s algorithm and the multivariate model itself. Then, the algorithm delivers real-time decisions to the end user’s browser, presenting optimal combinations of page elements to each visitor for maximized revenue potential. This output is delivered asynchronously as the client’s e-Commerce site loads, which ensures delay-free load times.
This real time website optimization patent compliments HiConversion’s prior patent for general Virtual Application Enabling. That patent protects the ability of HiConversion’s technology to perform complex multivariate optimization via generic pixel integration, which works in tandem with an easy-to-use visual designer tool. This allows non-technical marketers to use a simple point-and-click interface to perform changes to their page layout, replace content, add 3rd party applications (pixels), and to capture events or data.
About HiConversion, Inc.
HiConversion, Inc. is a leading e-Commerce Revenue Performance Management (eRPM) software and services company that empowers e-Commerce brands to produce predictable, sustainable revenue growth from the existing web traffic. HiConversion’s e-Optimizer platform is built on a foundation of patented virtualization technology and is driven by a self-learning, patented adaptive multivariate optimization engine that leverages big data, multivariate analytics, and an adaptive algorithm to improve e-Commerce revenue generation in real time.
To learn more, please visit: https://www.hiconversion.com
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