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AI for Marketing & Growth #1 – Predictive Analytics in Marketing digital marketing analytics

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AI for Marketing & Growth #1 – Predictive Analytics in Marketing

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Welcome to our brand new AI for Marketing & Growth series in which we’ll get you up to speed on Predictive Analytics in Marketing! This series you-must-watch-this-every-two-weeks sort of series or you’re gonna get left behind..

Predictive analytics in marketing is a form of data mining that uses machine learning and statistical modeling to predict the future. Based on historical data.

Applications in action are all around us already. For example, If your bank notifies you of suspicious activity on your bank card, it is likely that a statistical model was used to predict your future behavior based on your past transactions. Serious deviations from this pattern are flagged as suspicious. And that’s when you get the notification.

So why should marketers care? Marketers can use it to help optimise conversions for their funnels by forecasting the best way to move leads down the different stages, turning them into qualified prospects and eventually converting them into paying customers.

Now, if you can predict your customers’ behavior along the funnel, you can also think of messages to best influence that behavior and reach your customer’s highest potential value. This is super-intelligence for marketers!

Imagine if you could not only determine whether a lead is a good fit for your product but also which are most promising. This’ll allow you to focus your team’s efforts on leads with the highest ROI.

Which will also imply a shift in mindset. Going from quantity metrics, or how many leads you can attract, to quality metrics, or how many good leads you can engage.
You can now easily predict your OMTM or KPIs in real-time and finally push vanity metrics aside.

For example, based on my location, age, past purchases, and gender, how likely are you to buy eggs I if you just added milk to your basket? A supermarket can use this information to automatically recommend products to you.

A financial services provider can use thousands of data points created by your online behaviour to decide which credit card to offer you, and when. A fashion retailer can use your data to decide which shoes to recommend as your next purchase, based on the jacket you just bought.

Sure, businesses can improve their conversion rates, but the implications are much bigger than that. Predictive analytics allows companies to set pricing strategies based on consumer expectations and competitor benchmarks.
Retailers can predict demand, and therefore make sure they have the right level of stock for each of their products.

The evidence of this revolution is already around us. Every time we type a search query into Google, Facebook or Amazon we’re feeding data into the machine. The machine thrives on data, growing ever more intelligent.

To leverage the potential of artificial intelligence and predictive analytics, there are four elements that organizations need to put into place.

1. The right questions
2. The right data
3. The right technology
4. The right people

Ok.. let’s look at some use cases of businesses that are already leveraging predictive analytics.

Other topics discussed:

Ai
analytics case study
artificial intelligence
big data
deep learning
demand forecasting
forecasting sales
machine learning
predictive analytics in marketing
data mining
statistical modelling
predict the future
historical data
AI Marketing
machine learning marketing
machine learning in marketing
artificial intelligence in marketing
artificial intelligence
AI
Machine learning

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18 comments

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I'm scared the computer hates me anyway you see some of my programs navigate is total paradox always the last question I don't qualified to answer I can't say I have something that I don't

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Guillermo Alcantara Gonzalez 13/09/2021 - 6:47 Chiều

I am checking for ideas on how to apply analytics in digital marketing. Your video has been more useful than the 10 Coursera courses that I saw and slept with.

Reply
Vestina Za 13/09/2021 - 6:47 Chiều

Loved it! Some are saying that AI is the future, it will do all the automatic work and will leave us more time to creativity!
It would be interesting to know what do you think about this new AI-based design analytics?
For example like this: https://www.attentioninsight.com
They generate users attention heatmaps, calculates attention percentage for object etc.

Reply
Shruti Pawaskar 13/09/2021 - 6:47 Chiều

I like only structured data..

Reply
Erick Najera 13/09/2021 - 6:47 Chiều

Loved this video

Reply
Carlos Sanchez 13/09/2021 - 6:47 Chiều

love the information, but there's way too much going on way too fast.

Reply
Aanchal Iyer 13/09/2021 - 6:47 Chiều

Informative video, Predictive analytics also empowers marketing departments to sharpen their toolset. Marketers can use predictive analytics to optimize campaigns and generate better ROI by lowering costs. Likewise, Predictive Analytics can help your business in many domains, but how so have a read https://goo.gl/jAvVvt

Reply
raza khalid 13/09/2021 - 6:47 Chiều

Which Software you use to create videos? Reply is much appreciated.

Reply
Any App 13/09/2021 - 6:47 Chiều

Episode #2 was never available……

Reply
Thomas Lesenechal 13/09/2021 - 6:47 Chiều

Great video as usual, this is content marketing done right.
Really excited for this video series !

Reply
Any App 13/09/2021 - 6:47 Chiều

We've been waiting for that!

Reply

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