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Key Benefits of Predictive Analytics
Predictive analytics can help companies boost their marketing results in a variety of ways. To begin, they can use the data to define the best consumer segments to target, decide if a campaign will be effective, and recognize where it can fall
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CIO Applications | Monday, May 24, 2021

Predictive analytics can help companies boost their marketing results in a variety of ways. To begin, they can use the data to define the best consumer segments to target, decide if a campaign will be effective, and recognize where it can fall short.
Fremont, CA: Businesses are increasingly relying on artificial intelligence (AI) and machine learning to process data at scale and make informed decisions. They use data analytics to better understand consumers, tell compelling stories, and plan for the future.
Others use real-time data to analyze high-impact incidents like CVOID-19, while others compete aggressively on data analytics to achieve a competitive edge. With advantages like these, it's no wonder that predictive analytics is on the rise right now.
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The benefits of predictive analytics
Predictive analytics can help companies boost their marketing results in a variety of ways. To begin, they can use the data to define the best consumer segments to target, decide if a campaign will be effective, and recognize where it can fall short.
Predictive analytics can help companies boost their marketing results in a variety of ways. To begin, they can use the data to define the best consumer segments to target, decide if a campaign will be effective, and recognize where it can fall short.
Netflix's marketing team is one of those who have effectively used predictive analytics to learn how their customers browse and what they want to see. Netflix gathers information from search keywords, ratings, dates viewed, favorite genres, and even when a user presses the pause button. Then, make suggestions based on the users' previous behavior patterns and predicted behaviors. This approach has consistently resulted in win after win for Netflix, with personalized suggestions accounting for more than 75 percent of viewer interaction.
Predictive analytics also expands the potential for upselling and cross-selling. Someone who has purchased running shoes, for example, may also be interested in a pair of jeans. Rather than making such predictions by hand, companies should use ley data can do it for them. Since predictive analytics offers highly insightful insights, companies are more likely to offer specific suggestions and advertisements to their target audience at precisely the right time.
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