Mike Gilloon is a featured contributor to Predictive Analytics Deconstructed: A Super-Simple Recipe for Marketing Success report.
Here's the complete contribution:
In spite of all the technology that tracks our lives, predictive analytics are often only as good as the last month. In other words, the 30-day cookie is holding the market back. For example, I searched for running shoes on Zappos two weeks ago. I’m still receiving running shoe ads daily from Zappos.
But in a couple weeks, those cookies will burn out and Zappos will lose track of me. Wouldn’t it be better if Zappos remembered I searched for snow boots last October and didn’t make a purchase?
Instead of running shoes in October, I should be seeing offers on new Sorrells. This hits on a larger industry trend, using predictive analytics to anticipate long-term behaviors. This is a much tougher task, but the change already is occurring. We have had some success using customized predictive analytics for financial, home improvement and automobile sales clients. This use of predictive analysis has great upside to the client by providing more certainty in their transactions, not only in sales revenue, but in predicting demand, controlling inventory and other factors.
- Read the complete report: Predictive Analytics Deconstructed: A Super-Simple Recipe for Marketing Success
- Access full contributions to this report: #predictive analytics success
- Help Mike promote this contribution using the sharing bar on your left.