March 26, 2012–An interesting report is exploring the usability of big data analytics. With deeper looks at this industry, we get a better handle on the myriad of ways it can be utilized. We were given this insight thanks to an Information Management article, “Predictive Analytics Defining Marketing Competition.”
According to the report: “Comparing the top 35 percent of enterprises in the report with the remaining 65 percent – based on success of implementation and ROI – the top ‘leaders’ scored a more than five-times advantage in year-over-year change in lifetime customer value than other enterprises in the report. Predictive analytics also enabled leaders to rank response times to customer queries at nearly double the rate.”
Marketing angles are always hot spots for analytic fodder. This is no different. We’re seeing a lot of studies about the best ways to utilize marketing and analytics. One of the finest we’ve come across was the Target Marketing breakdown of seven different uses for predictive analytics in multichannel marketing. In-depth points like “Obtain a single view of the customer by focusing on customer data integration” make this required reading for any analytic marketing geek. Just add it to the stack of growing marketing studies.