Explain It Like I'm 5

While we won't really explain it like you would with a 5-year-old, we will explain some of the terminology in a way that a non-technical person could find meaningful.

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A/B Testing or Split Testing

A/B Testing or Split Testing

Agent, Engine, or Bot

Agent, Engine, or Bot

Automated Account Management

Automated Account Management

Automated Optimization

Automated Optimization

Automatic Experience Optimization

Automatic Experience Optimization

Breakpoint

Breakpoint

Cancel Event

Cancel Event

Conversion Rate

Conversion Rate

Customer Acquisition Cost or CAC

Customer Acquisition Cost or CAC

Customer Churn

Customer Churn

Customer Effort

Customer Effort

Customer Experience

Customer Experience

Customer Lifetime Value (CLV)

Customer Lifetime Value (CLV)

Customer Success

Customer Success

Expected gain

Expected gain

Experience Receipt

Experience Receipt

Explore & Exploit

Explore & Exploit

Features

Features

Gradient descent

Gradient descent

Integrated Feedback Loop

Integrated Feedback Loop

Intelligent Process Automation or IPA

Intelligent Process Automation or IPA

Involuntary Churn

Involuntary Churn

Learning Rate

Learning Rate

Loss function

Loss function

Machine Learning

Machine Learning

Multi-armed Bandit

Multi-armed Bandit

Net Win-back Score (NWS)

Net Win-back Score (NWS)

Offboarding

Offboarding

Personalization

Personalization

Prescriptive Analytics

Prescriptive Analytics

Proactive Support

Proactive Support

Reacquisition

Reacquisition

Recommender System

Recommender System

Reinforcement Learning

Reinforcement Learning

Retention

Retention

Reward Function

Reward Function

Supervised Machine Learning

Supervised Machine Learning

Win Back

Win Back