Today’s defining problem is simplifying choice. Research proves that with limited but relevant options, people make easier, more satisfying decisions. Choice Engines make this happen by using the power of data...

1. 8 March 2014
1
The Rise of Choice Engines
Crayon – Big Data. Made Simple.

2. We live in the
Age of More

3. We live in the
Age of More
Information
Influences
Devices
Choices

4. More is less
Decision paralysis
Postponed decisions
Less satisfaction
Barry Schwartz,
“The Paradox of Choice
- Why More Is Less”,
TED 2006, Swarthmore College

5. The paradox of More
We have more and more choices, but
less and less time to navigate them.

6. Solving the paradox of more
With a moderate
number of options (4 to 6),
people are more likely to choose,
more confident in their decision,
and happier with their choice.
Sheena Iyengar,
The Art of Choosing,
Columbia Business School, TED 2010

7. Can we simplify the world’s choices ?
Taste
From review sites, social
networks
Behaviour
From internal enterprise
data
Influence
From Social Networks
Context
From public data,
location-based data

8. Can we simplify the world’s choices ?
Taste
From review sites, social
networks
Behaviour
From internal enterprise
data
Influence
From Social Networks
Context
Data exists in different silos & enterprises.
The only integrator is the customer
From public data,
location-based data

9. The Rise of
Choice Engines

10. Rise of Choice Engine
10
All the world’s stores are in every iConsumer’s pocket
~15%
of sales for companies (like Amazon, Gilt, Qoo10) are mobile-based
21%
of consumers, across categories, use mobile for product research
50%
of customers use mobile phones to check prices – up from 13% two years ago*
60%
of smart phone users are buying products using mobile
Information does not come only from the
retailer or brand

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Rise of Choice Engine
iConsumers travel seamlessly across channels and
devices in a “converged shopping” journey
85 %
of people shop for a gift on one device and then make their
purchase on another
80 %
of smartphone owners want more mobile optimized
product information while shopping in store*
47 %
of consumers use their smartphone to search for local
information. 46% look up prices, 42% check inventory prior
to shopping in the store.**
Source: McKinsey & Company, “How retailers can keep up with consumers”, October 2013; IBM–Frost & Sullivan Global Hotel Survey Jan-2011
*Moosylvania, 2013 **Local and the e-tailing group, 2012

12. Rise of Choice Engine
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iConsumers travel seamlessly across channels and
devices in a “converged shopping” journey
“…mobile drives a dramatic
influence on total sales in
stores as well. All the channels
are being used in unison every
shopping journey”
Casey Carl,
President Multichannel
Target Corporation

13. 13
Rise of Choice Engine
Search is giving way to guided choice
Peer recommendations are
ten times more trusted
than sales people
of sales on Amazon are
driven by recommendations
10X
35%
75%
Guided
Choice
27%
of what people watch on
Netflix are recommendations
353%
Shoppers engaging with
recommendations convert to
purchase 353% more
frequently than those who don't
of all hotel bookings determined by
recommendations on review sites
Source: McKinsey & Company, “How retailers can keep up with consumers”, October 2013; IBM–Frost & Sullivan Global Hotel Survey Jan-2011

14. Rise of Choice Engine
14
HBR: Get ready for the rise of the choice engine
“If choice engines succeed, consumers will
be able to search for credit cards, cell
phone plans, or even mortgages as easily
and effectively as they search today for
airplane tickets.”

15. Crayon brings the power of choice engines to Enterprises
Using vast external data;
help enterprises get out
of ‘data cocoon’
Enable
Discovery
SimplerChoices™
Balance
Privacy with
Personalization
Ultra
Personalize
Using deep enterprise data
create personalization that
is unique to each
enterprise’s customer base
through identity-neutral taste
graph + anonymized customer
data from enterprise

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Thank you
For more information, please visit:
www.crayondata.com