Faraday app gives insights to online retailers

  • November 17, 2020
  • Steve Rogerson

Faraday has released a Shopify app – Faraday Personas & Insights – which brings customer analytics capabilities to thousands of online retailers across the USA.

This is the latest example of the Vermont company’s investments in Shopify. The company already supports dozens of fast-growing brands using the Shopify ecosystem to power their online stores, making it a suitable platform for Faraday’s embedded products.

The app uses machine learning and third-party data to compute personas unique to each merchant’s customer base, providing users with a clearer understanding of who their customers are, where they are, and how they evolve over time. The app is said to represent the next step in Faraday’s mission of making data science accessible and achievable for organisations of all sizes.

“The US economy has always been powered by small businesses,” said Andy Rossmiessl, CEO of Faraday. “Shopify has been a critical tool to enable small businesses to establish a scalable ecommerce presence to compete against larger, more established retailers. As these stores grow, their need for data science and intelligence also grows. Faraday is making an investment into Shopify to assure this need is met.”

Through its channel partnership programme, Faraday is now providing embedded AI-driven consumer predictions for SaaS companies operating in every major consumer vertical, including financial services, home services and ecommerce.

Faraday’s prediction cloud lets consumer brands work smarter by bringing data science out of the lab and into the real world. The platform integrates with brands’ existing software stacks, enhances their customer data with hundreds of attributes from third-party data sources, and applies machine learning to power predictive engagement and personalisation across the customer journey.