A recommendation engine is also referred to as a system, which recognizes and offers suggested content to the customers. The recommendation engine is regarded as an important chunk of applications and software products in the ICT domain. Recommendation engines are being used various sectors, including e-commerce, social media, and content-based websites. Content recommendation engine is an analytical tool to generate significant suggestions to certain users about products or items they may be interested in.
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Content recommendation engine makes the use of keywords searched by the user in assisting the products the user is looking for. The recommendation engine makes the use of search history of the users. Based upon recent searches, the recommendation engine shows up the relevant content accordingly, making it easier for the customers to view content of their choice, and thus enhance the customer experience.
The increase in focus on enhancing customer experience and rapid adoption of recommendation engine platform among the enterprises for providing customers with enhanced experience are the major factors, which drive the growth of the recommendation engine market. In addition, majority of the companies worldwide are pursuing digital transformation, concentrating on improving the experience of customers and employees, which drive the growth of the market.
However, protecting confidential information of customers, lack of technical expertise, and issues related to infrastructural and technological complexities are the factors hampering the growth of the market. Furthermore, rise in usage of artificial intelligence in recommendation engine to offer individual customer experience is expected to provide lucrative opportunities to the growth of recommendation engine market.
Advancement in technology allows the service providers to gather huge amount of relevant information about the geographical location. The main challenge is to effectively process the data and combine it with customer intelligence to improve the achievement of marketing campaigns and provide convenient and appropriate services to increase return on investment. The recommendation engine for the telecom is implemented to merge the collaborative filtering algorithms on a data collected consisting of consumer preferences on various services provided by the telecom sector.
Asia-Pacific is expected to grow at recommendation engine market during the forecast period. Additionally, several factors, such as rapid expansion of enterprises, rise in infrastructure developments, and increase in the need to analyze customer data, have propelled the adoption of recommendation engines across different users. The key driving factors for the market are rise in need to understand consumer behavior & preferences and the need to attain business intuitions from a large amount of data to make several customer engagement strategies.
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