Infographics, Technology
Published By:
328

Predictive analytics is the practice of looking for patterns within systematically compiled data in order to anticipate behaviors and trends.

Predictive analytics in the business setting is used to help sales and marketing teams build models and ideal customer profiles as well as provide information to both teams which can be used to increase sales, retain profitable customers and help to understand which customers aren’t an ideal fit for your company to target.

Why do Predictive Analytics Matter for Businesses?

Marketing and sales professionals have traditionally placed customers in the sales pipeline largely based on a defined set of behaviors and buying patterns. With predictive analytics, the process is more accurate and more efficient. You are able to look at patterns on a larger scale, which allows your sales and marketing teams to make more informed business decisions.

Predictive analytics can be used to for many purposes in a business setting including:

  • To detect patterns from customers
  • More efficient and effective customer targeting
  • Predicting customer behavior
  • Aid in strategic decision making
  • To provide a deeper look at the mindset of customers

 

 

How It Works

Machine learning is the backbone of predictive analytics. This is a form of data mining that relies on algorithms to detect patterns without human intervention. There are two main ways to leverage machine learning and the power of predictive analytics.

The first is predictive scoring. This is a method that predicts future customer behavior by analyzing historical data. This reduces the margin of human error and increases the quality of leads while also improving sales and marketing alignment.

The second method is predictive audience. This is a method of grouping customers or potential customers together by score, which allows end users to create audiences that can be segmented. This allows you to help better predict which customers are going to convert as well as showing when it is ideal to reach out to a customer.

While nobody can actually predict the future, there are some clear trends in the predictive analytics market that are driven by the recent acquisitions that Salesforce has made in the market.

Salesforce has an estimated 3.75 million users on their platforms. They have more business per user data than almost any other company in the world. This incredible amount of data allows for better machine learning by predictive analytics software.

To learn more about what’s trends lie ahead for predictive analytics, check out the comprehensive infographic created by Soliant Consulting.

 

 

Predictive Analytics

 

 

 

revcontent-98%-of-sites-get-denied-are-you-in-the-2%

Sponsored Resources

Want more resources

View all Resources

Contributors

Our publication contributors combine decades of experience with unique insights into the content promotion and distribution industry.
Chad Pollitt Co-Founder Relevance
Jay Baer Marketing Strategist, Speaker and Author
Gini Dietrich CEO Arment Dietrich
Jason Falls Social Media & Public Relations Thought Leader
Jayson DeMers Founder & CEO AudienceBloom
Ann Smarty Brand & Community Manager
Janine Popick Co-founder & CMO Dasheroo
Brianne Carlon Rush Content Director Kuno Creative
Arnie Kuenn CEO Vertical Measures
Pam Didner Global Content Marketing Strategist & Author
Kelsey Libert Marketing VP & Partner Frac.tl
Chirag Ahuja Head of Marketing WorkflowMax
Erik Deckers Professional Writer Pro Blog Service
Jessica Stephenson VP Marketing ExactHire
Bernie Borges CEO Find and Convert
Michael Ferrari Online Marketing Consultant Pen Cap Online Marketing
Larry Alton Freelance Writer and Editor
David Tile Founder & Director Nimble Media
Dan Steiner Co-Founder & CEO Elite Legal Marketing
Jonah Bliss Founder CMO ContentIntent

In case you missed

Read more of the latest news and insights from thought leaders in content promotion and distribution.

Subscribe


Get the latest content promotion news and insights everyday.

Champion Sponsors

Relevance is proud to present our Champion Sponsors that help make our site possible.

Cision Logo PRWeb Log Haro Logo

© 2016 Relevance | Content Promotion News & Insights

Connect with RELEVANCE

Thank you for subscribing please check your email for verification.