Predictive
Analytics: The New Task
Nowadays data’s measurement is getting more and
always more relevant. Many companies, in particular in North America believe
that predictive analytics and modelling are useful in order to get more value
out of data. This method is an important tool for companies who want both to become
more proactive, anticipate outcomes and behaviours based upon statistical data.
According to the research conducted in August
2016, by Winterberry Group in partnership with Direct Marketing Association and
Interactive Advertising Bureau, they found out 211 media and marketing
executives primarily in North America.
From the sample that has been taken in consideration,
some data came to light:
-
Predictive
analytics and modelling 49.3%
-
Cross-channel
measurement and channel attribution 40.6%
-
Campaign
management (segmentation and audience selection) 34.8%
What we have just mentioned are the top three
technologies in order to achieve value from future data use according to
Marketing/Media executives in North America.
Other relevant data that emerged are Marketing
Automation/ rules-driven decision-making and messaging, CRM/prospect data-base
management, Data Management platform, Campaign reporting and measurement, Data
visualization, Data processing and hygiene.
Cross-channel measurement and channel
attribution, with 40.6% is particularly useful in order to get more value out
of data.
The most important method to evaluate success
of their cross-channel marketing efforts according to CMO’s Worldwide is evaluating
each channel individually and at the same time optimizing based on
channel-specific performance. However, on the one hand the use of cross-channel
data and attribution to evaluate all marketing touch points and the use of
media mix modelling across on-line and off-line efforts are the most helpful
techniques. On the other hand more than one third of respondents said that they
were not currently using a robust measurement technique but a multichannel
attribution model.
According to a third of marketing and media
executives, Data Management Platforms (DMP’s) are useful instruments to analyse
marketing information from across a variety of channels.
From a research conducted in May 2016,
according to senior marketers in the US vs Western Europe (France, Germany,
Italy, Spain and the UK) the attention is shifting more and more to
marketing technologies.
More than two-thirds of respondents in the US
and Western Union underlined that the constantly growing skills for successful
senior marketers is the understanding of marketing technology.
We believe
that we can always learn something from the past, historical data can be useful
to identify risks and opportunities for the future. With predictive analytics tools
you can analyse current data to make predictions for the future using number of
data, analytical techniques and predictive modelling. In order to understand
the relationship between many factors of risks, you can use predictive analytics
models to be successful and interpret data for company ’s benefits.
Mattia Boscolo, Livia Lovari
No comments:
Post a Comment