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Beyond Predictive: 4 Reasons for B2B Marketers to Consider Prescriptive Analytics in 2018 - MarTech Advisor

Beyond Predictive: 4 Reasons for B2B Marketers to Consider Prescriptive Analytics in 2018 - MarTech Advisor | The MarTech Digest | Scoop.it
In the first stage – descriptive analytics, past data is studied to learn from past behavior and to assess how it can affect future outcomes. The second stage – Predictive Analytics uses data to predict what could happen next. The third stage which is also often referred to as the final frontier in the Big Data analytics game is Prescriptive Analytics - where data helps prescribe different actions.

Here are 4 reasons for B2B marketers to consider Prescriptive Analytics in 2018 

1. Combines the best of descriptive and predictive analytics

2. Drives informed (digital) marketing decisions

3. Improves customer-focused strategies to enhance CX

4. Helps mitigate business (even Sales and Marketing) risks
CYDigital/marteq.io's insight:

Beyond Predictive: 4 Reasons for B2B Marketers to Consider Prescriptive Analytics in 2018 - MarTech Advisor

 

I'll wait for AI to come first...or when pigs fly.

 

This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing

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Predictive Analytics – Facts You Must Know (Infographic) - Digital Marketing Philippines

Predictive Analytics – Facts You Must Know (Infographic) - Digital Marketing Philippines | The MarTech Digest | Scoop.it
Discover and learn what Predictive Analytics is, how it works and what you can do to use it for your business.
CYDigital/marteq.io's insight:

Predictive Analytics – Facts You Must Know (Infographic) - Digital Marketing Philippines

 

For all intents and purposes, predictive analytics = any reference to predictive.

 

Click/tap to view the original article.

This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing

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2017 State Of Business Intelligence And Predictive Analytics - Forbes

2017 State Of Business Intelligence And Predictive Analytics - Forbes | The MarTech Digest | Scoop.it
Cross-industry interest in advanced and predictive analytics grew sharply in 2017, with business intelligence experts, business analysts, and statisticians/data scientists being the most prevalent early adopters. Reporting, dashboards, and advanced visualization are the highest priority initiatives.
CYDigital/marteq.io's insight:

Some valuable and excellent data in this report. There's a non-client version so click through. Makes one wonder: how is it that BI and predictive is so important, yet marketers can't figure out how to fully utilize marketing automation?

 

From MarTech 101 to Advanced Techniques, marketingIO has you covered. Contact us. #MarTech #DigitalMarketing

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Predictive Analytics Market by Type, Deployment, Organization, Industry Vertical - Global Forecast to 2022

The global predictive analytics market size is expected to grow from USD 4.56 billion in 2017 to USD 12.41 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.1%. The compelling business necessity to preserve the competitive edge is one of the key factors that is fueling the growth of this market. Emergence of machine learning and artificial intelligence is expected to evolve the predictive analytics market, thus creating opportunities for the growth of the market. However, the changing regulation that leads to restructuring of predictive models, which consumes a lot of time, is the biggest restraint for the predictive analytics market.

CYDigital/marteq.io's insight:

MarTech is the best tool available to bridge the gap between Sales and Marketing. Contact us to see how. #MarTech #DigitalMarketing

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Predictive Analytics: Why it is the Smart Science for Smarter Business - Economic Times

Predictive Analytics: Why it is the Smart Science for Smarter Business - Economic Times | The MarTech Digest | Scoop.it
Predictive analytics is the science of making predictions about the future. Data mining, machine learning, and artificial intelligence are components of predictive analytics that help to analyze current data to make predictions about future buyer behavior. It charts out patterns of behavior that show buyers' next steps while making purchase decisions. In any business, predictive analytics helps to learn the entire customer lifecycle journey and unearth important information about them.

Through predictive analytics, companies engage with buyers in many ways to enhance their business. It is a precursor to a new form of customer engagement, applied after an empirical learning process about customer behavior. It has replaced earlier business decisions that were only repeatable strategies based on preconceived opinions or assumptions about complex business situations. Through predictive analytics, marketers gain hitherto concealed and great insights to make precise, effective business strategies. Buyers have high service-level expectations and look for compelling customer experience in their buying process. It is precisely for this reason that businesses' investment in predictive analytics becomes important.

Predictive analytics is different from buyer segmentation analysis because assembling customers' buying information is complicated. Buyer segments are relatively constant over time, but an individual buyer's purchase behaviour keeps shifting. As the reasons for purchase by customers change, businesses should align their offers that best suit the customers' requirements. But though there is wide acceptance that data is important to organizations, most business decisions still do not leverage the information about customer data when it comes to engage buyers. Here lies the importance of predictive analytics.
CYDigital/marteq.io's insight:

It's a strong case.

 

Subscribe to The MarTech Digest: http://bit.ly/miocom #MarTech

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The Next Frontier Of B2B Sales Is Predictive Analytics

The Next Frontier Of B2B Sales Is Predictive Analytics | The MarTech Digest | Scoop.it
How Businesses are Using Predictive Analytics in the Workplace

1. Superior Sales Forecasting

2. Eliminating Uncertainty

3. Assisting HR and Hiring

4. Preventing Workplace Injuries

5. Employee Training

 What Does the Future Hold?
CYDigital/marteq.io's insight:

RYZZ: It’s a new approach to MarTech for B2B Marketers.

 

#MarTech #DigitalMarketing

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