News Byte: A Behavioral Battle Plan From the IDF
Software from hard guys from the IDF
Pursway today introduced MyPIVO (for purchase influence value order), a dashboard that mines the open Web for people's real-life connections in order to understand their relationships and degree of sales influence. The product was developed by ex-Israeli Defense Force intelligence agents who had spent years data-mining software aimed at turning up influential relationships between people.
MyPIVO taps into information on the open Web about such life experiences as alumni events, conference attendance, and work history. Pursway claims that tests of the program provided response lifts of from two to five times for marketing campaigns. The company's data analysis program fastPIVO analyzed more than 20 million customer records a day, says the company, in a Hadoop experiment.
“Real influence can only be identified by actual purchase behavior, not by spend levels, social media, or gut feel,” said Guy Gildor, founder and chief technical officer of Pursway, in a statement announcing the product's release.
Pursway was awarded two patents for the technology by the U.S. Patent and Trademark Office, one covering a process for creating a social network based on retail credit card transactions, and the second using purchase transactions to identify influence and aggregating it to identify the customers emanating that influence.