Predictive Analytics: How to Implement a Successful Model for Your Marketing Strategy
Predictive analytics is the process of using data in order to determine how likely certain outcomes are. When it comes to marketing, predictive analytics uses machine learning and a variety of datasets to make future forecasts and ultimately end up with better, more informed marketing decisions.
In this article we'll take you through the steps you need to take in order to successfully implement predictive analytics in your marketing strategy.
Step 1: Planning
The first part of the process is to set your goals and targets. Using the S.M.A.R.T system is a good way to ensure your goals are good ones; they should be specific, measurable, achievable, realistic and time-specific.
You should then determine which data you need to achieve these goals, and carry out an audit of your curr...