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Based on its ongoing analysis of the global customer experience management space, Frost & Sullivan recognizes Evolv Technology Solutions, Inc. (Evolv) with the 2020 Global Technology Innovation Leadership Award for dramatically enhancing revenue generation for a company’s digital presence. By applying artificial intelligence to the creative process, the company’s solution curates and assesses hundreds of ideas in thousands of combinations at a time. Evolv’s solution is faster than traditional testing solutions and more likely to create meaningful improvement for customers. Evolv’s solution automatically learns what constitutes a positive customer experience (CX) and identifies the successful CX elements that may continue to inform new ideas.
“An innovative element of Evolv’s solution is routing traffic to the ideas with the highest probability of success, rather than arbitrarily routing it to ‘A’ and ‘B’ versions. This innovation optimizes the highly valuable real-time customer traffic and identifies the best ideas based on interactions with real customers,” said Alexander Michael, Frost & Sullivans Senior Director of Consulting. “Compared to the competition, Evolv greatly reduces revenue leakage and time-to-revenue and more readily identifies problems that cause customer frustration, anxiety, wasted time, and unfulfilled journeys.”
Evolv primarily targets verticals (evolv.ai) such as retail, eCommerce, telecom, media, consumer financial services, and travel. Speed is one of the solution’s unique benefits, wherein it evaluates ideas a hundred times faster than competing solutions, and agility allows users to add or remove ideas during ongoing experiments. In addition, the solution routes traffic according to a predictive performance model to avoid manual curation bias, measures real conversions, and aggregates insight from customer behavior. Furthermore, Evolv’s partner network of agencies, consultancies, and system integrators serves customers worldwide, providing the company with a vital competitive edge.
“Evolv’s new integration model called Experience Accelerator provides an alternative to the cumbersome JavaScripts embedded in the header and footer that traditional CX optimization tools use to control webpages,” noted Michael. “The underlying Evolv engine could be applied to a diverse range of new applications in the future, especially those beyond visual optimization. Its ability to handle hyperparameters make it useful to boost and optimize search engines and a wide range of digital experiences where a measurable goal exists.”
Each year, Frost & Sullivan presents this award to the company that has demonstrated uniqueness in developing and leveraging new technologies that deliver significant customer value.
Frost & Sullivan Best Practices Awards recognize companies in many regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify the industry’s best practices.
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