Interview with Andriy Chyrva Founder & CEO Mr Booster
What’s your company’s USP and what solutions do you offer?
We make a system that enables small and medium-sized stores in e-commerce to promote sales using AI. Powerful as Amazon and affordable for everyone.
What are the major challenges for your business?
Our major challenge is to use a limited budget to compete with GAFA on AI and DS.
Do you see applications of your business activities in the field of financial inclusion?
When we researched all the popular recommendation systems, we have realised that only large e-commerce companies were able to build really effective solutions. For example one wants to go to the ski resort and needs to buy some new skis. What is wise to recommend to him is also to buy some boots and a helmet. In traditional e-commerce, one would be suggested a different pair of skis or a ski with a discount. How often do people buy skis for later use? And you can find many examples like this, almost in every online retail store. We tried to gather all the examples of such illogical recommendations and as a result, created our own system that predicts the user behaviour and helps the merchants to sell their products in a logical and smart way.
What is the major social impact your business has delivered so far?
We have been providing data science (DS) expertise in our native country for over 3 years and we see that our own data science IT-school and all our efforts for businesses have paid off. For example, we help cut marketing budgets with the help of predicting customer churn or using A / B testing to select the most effective marketing tools. Many customers wonder how it is possible with the help of sentiment analysis to find out what their users in general, not only individuals think about their service or products, and we provide them with this possibility by embedding in the product, a chart of user satisfaction. And such requests become more and more frequently. People start to believe that there is a science capable of speaking the language of business.