- Client :Predictive Analytics
- Category :Link Building, Marketing
- Share :
It is a branch of data analytics that uses statistical and machine learning algorithms to analyze historical data and make predictions about future events or trends. It involves the use of various techniques and methods to identify patterns, relationships, and trends in data that can be used to forecast future outcomes.
The insights derived from predictive analysis better equip marketers to determine what is likely to happen in the future, to inform effective marketing strategies and dynamic media plans that will enhance consumer experience and ROI.
Models of Predictive Analytics
- Cluster Models: These algorithms are used for audience segmentation based on past brand engagement, past purchases and demographic data.
- Propensity Models: These evaluate a consumer’s likelihood to do something, such as convert, act on an offer or disengage.
- Recommendations Filtering: This model evaluates past purchase history to understand where there might be additional sales opportunities.
Use Cases for Predictive Analytics
- Understand Consumer Behavior
- Optimize Resources and Spend
- Qualify and Prioritize Leads
- Retain Customers
