|By Business Wire||
|June 11, 2014 12:58 PM EDT||
IRCE - Visual commerce platform, Olapic, today announced the launch of its new Photorank™ algorithm tool to help brands identify and display customer photos that have the most potential to drive conversions in an ecommerce environment.
“With almost two billion photos being posted online daily, brands have an over- abundance of powerful and authentic visual user content,” said Luis Sanz, co-founder and CTO of Olapic. “We know brands and retailers can improve sales—and every aspect of the shopping experience—by seamlessly incorporating customer photos into the purchase path. Now, with our Photorank system, they can use photos they know will perform.”
Photorank uses a proprietary machine learning predictive engine to analyze photos based on more than 45 different visual and contextual factors and then ranks them by their expected conversion power. This makes content curation significantly faster and more effective than random or manual selection.
The more photos the system processes, the more accurate it becomes. Photorank now analyzes more than two billion data points from across the Olapic platform. When this analysis is paired with a constant system retraining process, Photorank provides the most relevant and accurate customer photo curation system available today.
Results show Photorank-selected photos perform seven times better than those selected randomly and between two and three times better than those selected based on basic features such as color or captions.
“We continue to innovate and shape this category, and we’re proud to be the first to apply a type of artificial intelligence technology to user generated content for use in ecommerce,” continued Sanz.
Olapic currently works with more than 120 major fashion, beauty, travel, consumer electronics and home decor brands and retailers including BaubleBar, Coach, Desigual, Lancôme, New Balance and West Elm. A bundle of Olapic’s latest client case studies is available here.
Olapic is the visual commerce platform for collecting, curating and showcasing customer photos on ecommerce websites. The SaaS platform collects photos and videos from social media sites including Instagram, Facebook, Vine, Twitter and Tumblr to help retailers and brands engage customers while significantly increasing sales in a more authentic online shopping environment. Olapic is headquartered in New York City with offices in Cordoba, Argentina and London.
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