Predictive Analytics: Helping CMOs Thrive

Predictive Analytics

Predictive Analytics Infographic

Predictive analytics is the use of data, statistical algorithms and machine-learning techniques to provide the best assessment of what the future holds. A recent study conducted by Forrester Consulting, and commissioned by Radius, finds the implementation of predictive analytics demonstrates greater marketing maturity, and of the B2B marketers surveyed, a vast majority indicated they would be implementing or expanding their predictive marketing analytics systems. Only 2% displayed no interest or involvement at all.

An enabler of big data, predictive analytics assists organizations to implement a forward-looking perspective and increase their bottom line. Thanks to the increasing quantities and types of data being collected at steadily reducing costs, it also provides a competitive edge in today’s challenging economic landscape. 83% of B2B users of predictive analytics perceived a significant business impact and compared to non-users show 2.2 times the annual revenue growth of greater than or equal to 10%; 2 times higher market share than competitors; and 2 times the likelihood of exceeding marketing value contribution goals.

Predictive Analytics Infographic

Furthermore, users of predictive analytics are tapping into cutting-edge and advanced B2B marketing. The majority of users have a standardized marketing platform as opposed to only a third of non-users, and the fast implementation of analytics solutions as well as tracking of conversion rates is happening considerably more in B2B organizations that have implemented predictive analytics solutions.

A TDWI report found the five top applications of predictive analytics to be the identification of trends, better understanding customers, improving business performance, driving strategic decision-making, and predicting behavior. The vast majority of users of predictive analytics believe it enables them to understand, identify, and engage with their customers. And any industry can use it to optimize their operations and increase revenue, from banking and financial institutions to health care providers, retailers to manufacturers.

By Jennifer Klostermann

New York

From Y2K To NYC Parking Meters: Have We Learned Anything About Complacency In Cybersecurity?

Cybersecurity Complacency This past January – in what seems like a different world now – a story briefly hit the headlines and was seen as more of a quirk than a threat. It was soon ...
Bigcommerce

Magento 1 Is Nearing Its End – Is It Time To Migrate To BigCommerce?

Time To Migrate To BigCommerce? Nearly three years ago, Magento declared that they would be ending support for their Magento 1 software. All versions of Magento from 1.1 – 1.9 would then work without maintenance, ...
Jen Klostermann

FinTech and Blockchain vs Traditional Banking

FinTech and Blockchain Growth "The Rise of FinTech - New York’s Opportunity for Tech Leadership", a report by Accenture and the Partnership Fund for New York City, reveals that global investment in FinTech endeavors has ...
Signal Messenger: How to Successfully Resist Wiretapping Attempts

Signal Messenger: How to Successfully Resist Wiretapping Attempts

Successfully Resist Wiretapping Attempts Against the backdrop of events in the US, the popularity of the Signal secure messenger has grown sharply - from 6,000 to 26,000 downloads per day. This software uses strong cryptography ...
Aruna Headshot

Top Four Predictions in 2020 for Unified Collaboration

Predictions in 2020 The year 2020 promises to usher in significant new developments in collaboration and communication. It’s part of an unending climb, moving higher on a logarithmic curve of progress. New technologies continue to ...
Human Resources

Web Optimization Could Transform Your Organization – A Cost Containment Strategy

A Cost Containment Strategy With more and more resources available in the cloud, it’s easy to lose track of your costs and handicap the whole project with an unexpected bill that shuts the whole thing ...