506 receives 6-figure FFG grant for further development of its AI-based Marketing Data Platform
Linz, March 30, 2022 — The Linz-based marketing data science pioneer 506 and its cooperation partner FH OÖ Campus Hagenberg — Research Group AIST have been awarded a 6-figure grant for the further development of its AI-based analytics platform. This cloud solution collects proprietary data across the entire customer journey in a privacy-compliant manner, analyzes it with the help of artificial intelligence and automatically transforms it into suggestions. Our platform will enable e-commerce companies to generate more as well as sustainable growth through automated customer journey optimization from their own data.
Increase competition through new analytics capability of all digital marketing and sales data
Instead of individual conversions and general analysis data, process mining and artificial intelligence are used to analyze and evaluate the entire customer journey along the relevant digital touchpoints. For this purpose, so-called first-party data, such as website, webshop data, and proprietary data sources such as CRM or ERP systems, are connected to achieve a true 360-degree overview of visitor profiles. With this extensive data base and our research on AI-based analytics, it will be possible for European SMEs to increase SME sales and customer satisfaction for the first time exclusively based on data and fully compliant with the GDPR across multiple digital touchpoints. For this new research project, the 506 Analytics Platform will be used as a “springboard”. The increased use of first party data, through own data sovereignty, reduces the dependency on third parties.
“Through the FFG funding, and with the 506 Analytics Platform as a base, it will be possible AI-based to analyze in detail the behavior and activities of anonymous and known visitors/customers in a fully privacy compliant way. This will find new ways to increase customer satisfaction and business success in the digital world.” GERHARD KÜRNER, CEO 506
“The FH OÖ Campus Hagenberg — Research Group AIST could be won as a cooperation partner. The expertise is mainly brought in the area of process mining. “We are looking forward to the cooperation in this research project with 506 Data & Performance GmbH. Together, we will analyze customer journeys on websites in a way that preserves user privacy and face exciting challenges in the research field of process mining.” OLIVER KRAUSS, FH ASSISTANT PROFESSOR RESEARCH GROUP AIST
506 is a leading, Upper Austrian marketing data science company. The focus is on the analysis, segmentation and activation of digital visitor and customer data. With the AI-based 506 Analytics Platform and comprehensive marketing and data science expertise, customer data is transformed into sustainable business success. www.506.ai
About the Austrian Research Promotion Agency FFG
Innovation needs courage, knowledge, money — and a strong partner. As the central national funding organization, the FFG offers Austria’s companies and organizations a wide range of funding opportunities. This benefits newcomers as well as innovation professionals, start-ups or individual researchers just as much as corporations or universities. Learn more and shape the future: www.ffg.at