There is a significant drop-off post a customer searches or selects a product on the Network. In the Platform
world, there are personalized recommendations for the customers to expedite their decision process.
1. In an unbundled environment as well, while each Buyer NP can provide a similar experience to the Customer, we
need a mechanism to facilitate the Customers to get personalized
recommendations on products, discounts/offers, etc basis their attributes on the Network.
2. The Sellers on the Network should also be able to relay their personalized offers to the customers on the
Network.
1. The problem statement was chosen because it aligns with our company's interests and goals.
Our company specializes in providing personalized recommendations and optimizing the customer decision-making
process.
By addressing the significant drop-off observed after customers search or select a product on the network, we
aim to enhance
the user experience and increase engagement on our platform.
2. Additionally, enabling sellers to relay personalized offers to customers aligns with our objective
of fostering strong relationships between buyers and sellers on our network. Overall, tackling this problem
presents
an opportunity for us to leverage our expertise and technology to drive value for both customers and sellers,
ultimately contributing to the growth and success of our platform.
Our solution not only leverages ML-based analytics techniques and a recommendation engine but also prioritizes
maintaining
competition norms and privacy standards.
We ensure fair competition practices by sharing data with each seller and buyer in a privacy-preserving manner.
Data is
stored and analyzed in a peer-to-peer manner, making sure, we abide by the smart contracts protocol in a
typical blockchain network.
User data is masked and transmitted in aggregated groups, safeguarding individual privacy
while still allowing for meaningful analysis and recommendation generation. This approach upholds
the integrity of the marketplace while providing valuable insights to sellers
and personalized recommendations to customers.