The market for affiliate marketing is expected to reach $8.2 billion by 2022. AI is making it easier than ever to succeed in this growing field.
The application of Artificial intelligence and Business Intelligence in affiliate marketing has been actively discussed for quite a time. No wonder, more or less but the majority of marketers have already applied them both at their campaigns. Companies like Propel Media are using machine learning to deliver ads to customers that are most likely to convert. Bloggers are using AI to better identify target customers and create the right content for them.
And as they say, taste once and you will not be able to refuse another time! And there is no need to! With every year, AI technologies only become stronger and introduce new features. They automate a large amount of work and help manage marketers’ work properly. And as marketers quickly get used to innovations that significantly improve their work, they tend to generalize AI and BI. The lack of nuance can cause them to mislead themselves and others in what is what.
Chief Marketer talked about some of the ways that AI is changing the field of affiliate marketing. You can review their content for more details, but we have summarized a lot of the concepts here.
Therefore, in the following paragraphs, we would dive into the details of AI and BI. We will clarify the differences between them and showcase how AI and BI work alone and together, and how their synergy can make ad campaigns stronger.
Both AI and BI are deployed by collecting and analyzing large volumes of data. They both are aimed at easing the working process, releasing from manual work, speeding up the decision-making process, and making it more data-driven. Somewhat similar definitions might be misleading. Two word-combinations, both consist of two words and have “intelligence” as a common one. When in fact, it is not the same intelligence. In AI it refers to computer intelligence, while in BI it is about smart decision-making in business influenced by data analysis and visualization.
Though there is an inevitable overlap, these two are not the same. Let’s once and for all draw a distinction between these two definitions.
The aim behind BI is to streamline the process of collecting, organizing, and analyzing data. BI tools allow companies to significantly improve the quality of the data they collect and its coherence. They can turn mountains of data from absolutely puzzling mess to a pretty coherent picture. Ideally, this data extracted by BI should provide marketers with information on advertisement trends, audience engagement with creatives, and resource allocation. Companies’ data can indicate the viability of the current strategy and help in the planning of future growth hacking actions. In this way, BI carries out its mission – to simplify marketers’ work with data.
AI represents the ability of a machine or a computer program to think and learn. In plain language, it means that AI explores the use of computer systems to imitate various patterns of human behavior. Thus, when applied to affiliate marketing, instead of the constant human presence, AI can decide how to update the program setting and which traffic to send to which offer.
Over the course of running ad campaigns, marketers collect high volumes of all-encompassing data that they further translate into strategies for future ad campaigns. The problem that comes along with this amount of data is its storage.
