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10 Fastest Growing Data Analytics Companies 2016

Reflektion: A Specialist in providing Personalized Solutions to E-commerce companies

“A website without conversion rate optimization is like a car with no wheels – it will take you nowhere.” – Jeremy Abe

The digital retail market has boomed to insurmountable levels in the past five years. E-commerce sites like Amazon are the forerunners of the digital revolution in the world today. With the rapid rise of such sites, there comes a need to understand and respond intelligently to the customers’ needs and demands. The retail E-commerce space was far behind in true personalization advancements accomplished through apps and web services like Google, Netflix, and Facebook. Reflektion, a data analytics company, brings that level of intuitive, individual user focus to retail.
The company’s founding team believed that by helping retailers tailor digital experiences to each individual shopper in real time, retailers could drive much higher revenue. In piloting the individualization approach for clients such as O’Neill Clothing and Metal Mulisha, Reflektion was able to exceed even their highest expectations. The team quickly realized that their approach yielded double digit results in engagement, conversions, and revenue. A theory became reality. With Reflektion’s technology approach and success with pilot clients, the company raised VC funding from investors like Intel Capital and Nike. This has allowed Reflektion to further develop its product and extend to clients like Disney, Uniqlo, Gander Mountain, and Converse, where the company powers solutions such as individualized product recommendations, site search, mobile and email.
Market Positioning
Reflektion is positioned in the market as an Individualization solution for E-commerce providers. This approach is distinctly different than the watered down version of personalization that the incumbents have offered, which really depended on segmentation (overly large groups or essentially averages). As a result of Reflektion’s focus on each individual shopper – instead of broad segments – clients are able to generate significantly higher conversion rates (8 – 10X previous generation solutions) by leveraging shoppers’ preferences to get them to the products they are most likely to purchase.
During the initial implementation phase, the retailer client yields a percentage of traffic to the Reflektion powered experience and the technology benefits become very clear. They see that for key metrics like engagement, conversion rates, and revenue, the traffic influenced by Reflektion far outperforms the control group. Reflektion recognizes each individual’s clicks, site searches, time spent on product pages, and countless other data that’s shared by the visitor as they engage with the site. Advanced algorithms (which are created specifically for each retail client) optimize the entire digital experience (including the presentation of products and search results, etc) in real time for each individual shopper. This hyper-targeted experience means shoppers find what they’re looking for faster and are more likely to make a purchase.
Differentiating itself from Competitors
The company has disrupted how retailers approach personalization by applying a completely different strategy where each individual visitor’s past preferences and real time behavior are taken into account in order to present merchandise, content, and search results that are specifically tailored to each individual shopper. This generates significantly higher returns than legacy Personalization platforms (8 – 10X), with Reflektion conversion rates increasing by an average of 26%.
Advancements in machine learning and big data technology have allowed for completely new approaches to personalization that far exceed last generation solutions. Since technology is evolving so quickly, retailers can be challenged with keeping up. For Reflektion, it’s a matter of educating the market as to what options are out there and how their expectations for E-commerce KPIs should be raised.
Reflektion has offices in San Mateo, CA and Chicago, Illinois.
Reflektion individualizes the complete E-commerce experience. This higher level of personalization occurs on homepages, site search, product detail pages and category pages across desktop and mobile devices. Wherever the shopper engages, they can have a more intelligent and successful experience. Reflektion is expanding these individualized solutions off site as well, with email and insightful analytics that can help predict trends for fast fashion, forecast inventory needs, and provide deeper insight on regional and shopper trends.
The main clientele are in Retail and E-Commerce. Reflektion boasts of some huge clients such as Disney, Uniqlo, Gander Mountain, Converse and O’Neill.
Case Study
How O’Neill boosted E-commerce Sales with Reflektion
O’Neill, a 60 year old retail company, is known for its individualized approach with customers. The company faced a challenge on how to engage with today’s digital customers online while still applying its focus on each individual shopper. The retailer turned to Reflektion to address its objectives. Reflektion’s solutions for O’Neill were personalized recommendations, instant visual search, and enhanced Smartphone and tablet experiences. Its technology created a curated and personalized digital store similar to what they might find at a retail location. In the months following their integration of the Reflektion platform, revenues swelled. Conversion rates were increased by 26%. The average order size grew by 17%, and the overall engagement jumped by 85%.
Knowing the Founder
Amar Chokhawala, Founder and CTO
Amar began his career at Oracle in software development and was an early Google employee. His 11-year career at Google included key leadership roles in several successful businesses and platforms. He was an original member of the Adsense team, designing and developing core technologies that are critical to its widespread use today. Amar was also one of the founding engineers for Google Books. He did foundational work on Gmail user modeling, using semantic learning and other advanced technologies to improve search results and other applications for millions of users.
“Our individualized commerce solutions equal double digit growth”