What Predictive Analytics and How It Can Provide Unfair Advantage?

Data empowers us with the knowledge of what did or did not work in the past. In hindsight, we all have 20/20 vision. But what if you have 20/20 vision, not behind, but with foresight?

That’s the ambitious goal of predictive Digital Marketing Company Stafford analytics. Appearance Let’s look at some real examples of how companies use, or plan to use, predictive analytics.

What if Amazon ship your items before you order them?

In 2012, Amazon filed a patent for a system that would allow them to use predictive analysis to prepare and ship your items before you’ve even ordered them.

their predictive analysis system will predict how likely you are to purchase items based on your behavior, and make the decision to begin to prepare the items. This will allow Amazon to reduce the delivery time, improve their competitive advantage as the fastest online retailers.

What if you paid less insurance on the days you drove the safest?

While asking for car insurance quotes this morning I see this choice that I have never seen before.

Predictive car insurance

The use of statistical analysis and predictive models to reduce the risk is not new to the insurance company, but using real-time data to adjust insurance premiums seems new to me.

The flipside of this is that the emergency services can be made aware of a dangerous driver in an instant, allowing them to react more quickly, improve road safety and reduce crime.

What if a president can win the election by ‘guessing’ what will sway your vote?

In the 2012 election, President Obama employs 50 expert analysis used uplift modeling and predictive analytics to help him win. How? His team used a statistical model to predict which individual voting easiest to sway, and which forms of media will work most effectively to persuade them.

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Rashid Ghani, Chief Data Scientist to Obama for America 2012 campaign, mentioned in an interview:

“Our modeling team built a model of persuasion to every swing state, to predict the potential to persuade to each of millions of people in the swing states. Said to be the most likely to win over to the side of Obama -. And that we should avoid contact altogether “

Unlike most political advertising campaign, the Obama team does not discriminate by demographic and psychographic – they recognize that not all middle-aged Latino women think the same way. They discrimination door-by-door, person-by-person, using predictive analytics.

How predictive analytics works for marketers?

Aristotle famously said “The whole is greater than the number of the section”. This usually happens when it comes to merging datasets.

Say you Starbucks. Of course, your CRM system dataset is valuable, and so is your dataset on the number of times customers come back to buy coffee. Combining the two datasets together and you have the means to create a personalized system in which staff you can say “Hi Marcus, we see you have not bought a coffee for 5 weeks after buying one every day for 2 consecutive weeks. Here is a venti cappuccino free! “

Marketers will benefit from predictive analytics intelligence to provide a more personal experience which enhances the experience and customer loyalty (after they got over the creepiness). On top of this there is the old classic puzzle “half of my advertising budget is wasted, but I do not know which half”.

With predictive analytics, you will not only be aware of the most valuable channels – you’ll know exactly which combination of individual channels and the most valuable. It introduces Digital Marketing Companies Stafford a new level of segmentation, which in turn allows marketers to allocate budgets more effectively, and increase their profits.