Predictive Analytics for Marketers
Using Data Mining for Business Advantage
Barry Leventhal
- English
- ePUB (mobile friendly)
- Available on iOS & Android
Predictive Analytics for Marketers
Using Data Mining for Business Advantage
Barry Leventhal
About This Book
Predictive analytics has revolutionized marketing practice. It involves using many techniques from data mining, statistics, modelling, machine learning and artificial intelligence, to analyse current data and make predictions about unknown future events. In business terms, this enables companies to forecast consumer behaviour and much more. Predictive Analytics for Marketers will guide marketing professionals on how to apply predictive analytical tools to streamline business practices. Including comprehensive coverage of an array of predictive analytic tools and techniques, this book enables readers to harness patterns from past data, to make accurate and useful predictions that can be converted to business success. Truly global in its approach, the insights these techniques offer can be used to manage resources more effectively across all industries and sectors. Written in clear, non-technical language, Predictive Analytics for Marketers contains case studies from the author's more than 25 years of experience and articles from guest contributors, demonstrating how predictive analytics can be used to successfully achieve a range of business purposes.
Frequently asked questions
06
Predicting customer behaviour using analytical models
Introduction
- Consider the use of predictive models for helping to manage the customer journey.
- Review critical elements that need to be designed when planning a new model that will deliver value for your business.
- Walk through all the steps required for building and implementing predictive models.
- Show how model performance can be evaluated using lift and gains charts.
Overview â building and deploying predictive models
Managing the customer journey
- Customer recruitment may be targeted, in order to maximize your return on investment. This applies irrespective of how your company recruits customers; so, for example, targeting may be used for direct marketing, online ads and newspaper advertising.
- Once a customer has been recruited, ie purchased an initial product or servi...