The crystal ball has long been the most desired tool in the marketer’s toolbox, to be able to visualise in advance what individuals want, can make the difference between a good campaign and a truly fantastic one.
Jason Brown, Director of Analytics at XCM Ltd describes Analytics as “the method of establishing true business intelligence, through facts, interpretation, decisions and actions” Jason goes on to add that “Predictive Analytics is the art of data interpretation, predictive modelling, elevating decisions and options, or in short, What could happen?”
A visit to a retail store can identify details of a customer’s buying habits and preferences before any personal contact with a staff member by identifying themselves to a beacon at the entrance. The sales staff can be informed of the many factors that could influence a successful sale.
Online, where the machine is all powerful, every aspect of the individual customer’s demographics, spending habits, size, current weather and time of day are all instantly available the moment the website is reached.
This collective data can then be used to intelligently predict the purchasing habits of an enormous range of specific target groups. By utilising “brain-like” artificial intelligence to “learn” the behaviour of these groups of similar customers, highly personalised and hence more effective campaigns can be developed.
Jason’s team of highly skilled and experienced analysts and developers apply XCM’s constantly expanding range of Analytical tools to create outstanding campaigns for a diverse range of clients in the retail, services and gaming sectors.
So Predictive Analytics is not necessarily the “magic bullet”, but combined with the other tools in the box and in our skillful hands it is the next best thing.