SOURCE: Baynote

January 14, 2008 08:00 ET

Independent Research Firm Recognizes Baynote in Report on Personalization in eCommerce

CUPERTINO, CA--(Marketwire - January 14, 2008) - Baynote, Inc., a leader in intent-driven product and content recommendations and social search for the business web, today announced it was recognized in a December 2007 report entitled "Which Personalization Tools Work for eCommerce -- And Why" from independent research firm Forrester Research, Inc. The report, written by principal analyst Sucharita Mulpuru, examines the market landscape of solutions which allow "retailers to increase relevance through activities like matching cross-sells to customers based on interest."

Baynote was described in the report, which was based on briefings from the vendors, as having the ability to support both simple cross-sells as well as advanced cross-sells. Only a subset of vendors in the report had both capabilities. The ability to generate simple cross-sells takes "implicit and sometimes explicit data" to generate product recommendations on the web page. Advanced cross-sells "have the capability to push suggestions to other parts of a site or company."

"Web recommendations are the online equivalent of a store or sales associate approaching a customer browsing in a particular department/venue and saying, 'Here's a special you may be interested in,'" writes Sucharita Mulpuru, principal analyst at Forrester. "Consumers are often persuaded by this approach, as it helps them to discover products and solutions that they might not have been familiar with otherwise. Seventy-seven percent of customers say that they find recommendations in general somewhat to extremely useful, and roughly one-third of consumers who notice recommendations on eCommerce sites report purchasing a product based on such recommendations."

When evaluating the key metrics for selection, the report states that companies with "experience in a given vertical or industry will likely have an advantage over other competitors," as they "will probably have already addressed the complex nuances of a particular industry, which means less algorithm tweaking after deployment." Baynote was recognized in this section for its experience with retail companies as well as media and content providers.

"Baynote's intent-driven recommendations combine social understanding with state-of-the-art Web 2.0 engineering to match site visitors with the best products available, generating a net revenue lift of up to 50 percent for eCommerce sites," said Jack Jia, CEO of Baynote. "Forrester's report is quite timely as companies realize the value of tapping into their respective Long Tails via online retailing can only be achieved through intelligent product recommendation capabilities."

Forrester clients can access the complete independent report at http://www.forrester.com.

About Baynote

Launched in 2006, Baynote delivers on-demand recommendation technology and social search for websites. By automatically displaying the best content and products, Baynote increases online revenue, leads and impressions. Baynote's patent-pending UseRank™ technology taps into the collective wisdom of the silent majority without collecting any explicit feedback. Over 80 eCommerce, media, and enterprise customers including Motorola, Network Appliance and US Appliance use Baynote Recommendations. For more information, please visit www.baynote.com.

Baynote™, UseRank™ and BrandRank™ are registered trademarks of Baynote, Inc.

Contact Information