Sample marketplace firm Lucid has announced the launch of ‘Reach’, a machine learning solution providing users of its Fulcrum sample platform with instant feasibility and pricing on a planned study.
Users define their audience and specify survey length and how many completes they require: Reach then calculates the feasibility and cost for such a survey based on data from 45 million previous survey completes on Fulcrum – and will add to this knowledge base in real time as more are completed.
Developed using Google’s TensorFlow platform, Lucid says the new tool is able to predict ‘virtually infinite’ combinations of research qualifications – such as demographic and attitudinal criteria. This includes those not previously requested within Fulcrum, which offers nearly 200 standard criteria.
The solution, billed as the ‘first machine learning feasibility tool for the sample marketplace’, is available now to Fulcrum users in the US, with roll-out planned for more markets soon.
Founder and CEO Patrick Comer (pictured) says the new tool ‘solves a major pain point for the programmatic sample marketplace: feasibility and price’ and says training its neural network represents ‘a major accomplishment for the Lucid engineering and data teams’.
Comer says the launch is ‘the latest example of Lucid’s fundamental focus on moving the sample industry forward with groundbreaking technology and solutions’: the company secured an impressive $60m six months again to fuel its expansion and innovation, and already offers sample platform Fulcrum and digital marketing tool Proof.
Lucid employs over 200 people and is headquartered in New Orleans with offices in London, New York, and New Delhi. Web site: www.luc.id .