5 Ways you can use predictive analysis
Predictive analytics, a branch of advanced analytics techniques uses data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data to make predictions about future. It helps marketers plan out themselves for the future trends.
Forbes contributor Kimberly A. Whitler has interviewed Shari Johnston, SVP and Head of Marketing at Radius, on how to use predictive analysis in marketing. Johnston has shared five ways for the marketers to use predictive analytics.
Johnston says, “Predictive analytics is a tool that enables marketers to improve their go-to-market strategies and marketing programs. It allows them to focus marketing activity on the prospects who are the most likely to become high-value customers and provides insights that they can use to create more relevant and compelling messaging, content and marketing programs targeted at each customer segments’ needs. Predictive analytics can also be used at every stage of the funnel and applied across marketing objectives, from growing share to expanding into new markets to growing customer lifetime value. Predictive is an invaluable tool because it has so many applications, so it’s important for CMOs to first establish the problem that they are trying to solve, or the outcome that they are trying to achieve and then utilize predictive analytics to focus on the right opportunities”.
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