All posts in “Predictive Analytics”


Flash-Forward: The 5 Biggest Mobility Trends of 2014

The Year of the Horse is upon us and according to ancient Chinese belief, people will take on “unremitting efforts

to improve themselves” in 2014.

As mobile-first consumers become more steadfast in their demands and expectations (read: personal, all about me, relevant at this precise moment), marketers should take a page from this Chinese tradition and spend 2014 significantly rethinking and improving their mobile initiatives. Marketers need to get a handle on the numerous, competing customer data streams to better bridge the online and offline worlds in more immediate, personalized and tangible ways. Once this happens, the customer journey will undergo dramatic changes that better align with the mobile-first world.

The biggest trends for the evolving customer experience in 2014 will be:

  • Consumers are “Compensated” for Data: Consumers are starting to understand the value in letting go of the tight grip they keep on their personal data – but they want something in return. While we will not see consumers get paid money for their data next year (although this is not too far off), consumers will be rewarded with more personalized experiences. Brands will also begin to explore partnerships to share opt-in customer data to provide multi-dimensional, highly relevant experiences. A weight loss program provider could partner with a retailer to provide a special offer when a set goal is reached (e.g. You’ve reached your goal weight! Enjoy 10% off those skinny jeans!).
  • iBeacon Technology Grows Up…Really Fast: More and more stores will adopt iBeacon technology for proximity marketing as a way to enhance the brick-and-mortar experience and to capture the imagination of online shoppers. Marketers will spend 2014 testing and refining indoor location programs in a small number of stores, experimenting with contextual triggers to deliver personalization, drive in-store traffic and enhance customer service. Bringing marketing automation to the physical world, businesses across a variety of industries will look to iBeacon technology as the next stage of real-time marketing.
  • Contextual-Awareness Actually Gets…Well Relevant: The primary ingredient for mobile marketing success is being relevant to a person’s immediate context. Location alone doesn’t make something relevant – In fact only 1% of the time would it drive a person to take an action. To drive true relevance and avoid interrupting consumers’ lives, marketers will start leveraging all sensors and secondary location data that exists, such as weather and traffic, as well as start anticipating a person’s intent to provide the right content at the right time to the right person.
  • The Smartphone Domino Effect: As devices increasingly become “smart” and the Internet of Things expands into new horizons, smartphones will stake their claim as the remote control to power this connected universe made up of everything from glasses and thermostats to autos and household appliances. Brands will develop omni-channel app strategies, allowing the individual to carry context forward with the smartphone automatically triggering actions appropriate to the screen and their current situation. (e.g. A dinner reservation is made on the smartphone, directions autopopulate in dashboard screen when the car is turned on and a person is prompted to review the restaurant when they power up their tablet that evening).
  • Predictions Make Way for Prescriptions: We will see the first round of mainstream apps and platforms leverage prescriptive analytics as the next round of ‘usable’ predictive analytics. As more companies start anticipating customer behavior
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    more accurately, prescriptive analytics will become adopted on a wider scale among the brands looking for actionable insights to drive revenue and deepen engagement.

This year will be a make-it-or-break-it one for brands on mobile. The marketers who stick with the status quo of boring initiatives that interrupt customers’ lives will lose their audience in droves. The marketers who integrate all data streams and systems into mobile-first experiences will be the ones

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who will not only capture — but keep — the attention of always-addressable consumers. Cheers to a year of true mobility.


Predicting is the new black: The latest trend in marketing

How powerful would it be for marketers to know what their customers are going to do before they actually do it? To predict how they would react to certain messages and offers, or to intervene just before a customer loses loyalty and switches brands? The medical community has been doing this for years — predicting the best course of action, based on family history and genetics. Wall Street too has used sophisticated algorithms to predict future market trends that guide high-risk trading decisions. Even some prison systems use the power of prediction to determine which prisoners should be paroled and which should serve out their full term. And no one can forget the use of predictive analytics in baseball, as shown by Brad Pitt in the movie Moneyball. Everywhere we look, the concept of “predictive analytics” is taking hold and is now becoming the most powerful tool in marketers’ increasingly sophisticated toolboxes. While the idea of predicting customers’ behavior may seem like something out of the Jetsons-era, it is very much a reality today and is dramatically shaping the way marketers engage with their customers. This can be seen in something as seemingly ordinary as Netflix predicting which movies I may like based on what I have watched, or as advanced as Target

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predicting which of its customers are likely to be pregnant. It’s no secret that brands have been collecting heaps of data on their customers in order to create robust profiles and personalized customer experiences. User profiles allow marketers to segment their audience on the simplest level by: geography, basic demographics and purchase history. Apart from actual sales and general profile data though, marketers – and their data scientists — are now analyzing things like social behavior, the stickiness of certain emails and promotional campaigns,

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and website activity to build living profiles. Each piece of customer data allows for advanced customer segmentation and goes into the statistical equation that predicts how likely action or inaction is. By using sophisticated algorithms based on the results of historical and real-time campaigns, marketers can now predict with a high percentage accuracy things like:

  • Who will purchase?
  • How much are they willing to spend?
  • What is the predicted lifetime value (LTV) of new customers?
  • What is a customer’s propensity to buy?
  • What is a customer’s propensity to engage?
  • Who will become a brand advocate and share about their experience on social media channels?
  • Who is likely to abandon for a competitor?
  • Which offer will resonate most with certain audience segments?

By understanding this, marketers can better allocate resources to target specific groups and, with the most compelling message, drive the most profitable relationship. By harnessing predictive analytics, brands can also understand which customers are worth pursuing and “courting,” and which will not pay off in the long run. As marketing budgets continue to be stretched, this power of prediction will be incredibly essential. Mobile has changed the ‘digital touchpoint’ landscape. Predictive analytics solutions would not have been as powerful pre-mobile, as

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the always-addressable customer did not exist. Now, brands need to discover the winning

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combinations of who to target, when to do it, with what type of message, on what channel – and how to react quickly if the outcome is not as predicted.


How ‘Little Data’ Will Unleash an Army of Jason Bournes

We all, of course, live in a physical world — our homes, offices, cars, places

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we frequent, and people with whom viagra gnc we associate. However, the world that is dramatically changing the way we live our lives and our daily experiences is a mass ocean of data, invisible to everyone but us. These physical and digital worlds are becoming increasingly interconnected by millions of sensors that make up the Internet of Things. Our data is superimposed over the physical world, accessible through smartphones, car dashboards, tablets, biosensors — and eventually through a Google Glass headset interface or the next-gen equivalent. 70-463 Grounded in ever-sophisticated predictive analytics, this data-world is quickly evolving and will soon automatically take action on our behalf, interacting with our physical world, offering options and opportunities you want, foreseeing what you don’t even know you want, all without having to ask. You are the center of both worlds because mobile devices have shrunk big data and made it about you. They have acquired,

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filtered and reconfigured themselves for your personal needs and wants. Some might call this a “James Bond future” because it’s about hi-tech, futuristic toys and living on the cutting edge of cool. But we don’t need — or want — to be James Bond. Digerati will quickly evolve from Bond (reacting to his environment) to Jason Bourne (always anticipating traffic, weather, the bad guys — intuitively exploiting every opportunity). We’ll realize a Jason Bourne future where our physical world magically cooperates with us. Consider these facts:

  • Automakers are integrating disparate data, blending everything from incoming phone calls to physical road conditions, gas prices, traffic, weather, and opportunities (fuel dropping below 20 percent — stop at next station).
  • Intelligent houses monitor and adjust temperature, energy expenditure, call your security company if an alarm is triggered, and send refrigerator alerts if you’re low on milk.
  • Fitbit is one of the wearable computing devices that feature biosensors and biometrics. Soon, an athlete with a heart condition will get a life-saving automated cialis malaysia price text and call indicating his pulse is rising with a recommendation that could help him avert a heart attack.

So what is driving this (r)evolution? Six primary trends:

  1. Smartphones are getting smarter. Smartphone apps will use more sensors (GPS, camera, microphone) to drive relevance, using location as a cue for situational awareness and action triggers. Imagine your phone checks your train status in the background as you walk towards the station without you asking for it, and

    adjusts your thermostat as you drive home,

    without triggering it.

  2. Every device and location is becoming a node in the network. Cars, homes, utilities, the office, and stores will be intelligent nodes; your smartphone will be the intelligent glue, delivering the beginning of a user-centric model.
  3. Shared data is also becoming a norm. Data will be shared phone-to-phone, vehicle-to-vehicle and via any real-time, peer-to-peer communication link. Rapid-data authentication and ID protection make it private and secure.
  4. Cloud nine will be your home address. The cloud will store your tastes and preferences, feeding them to the services you use. Imagine you’re driving toward a smart, linked, next-gen ATM that has been “told” you’re arriving by your smartphone. The ATM already knows (based viagra china on secure, encrypted data you stored in the cloud) that on the third Friday canadian pharmacy of each month you like to transfer $1,000 to your wife’s account, while simultaneously paying your mortgage and withdrawing cash.
  5. Predictive Analytics: As more of your data is collected and analyzed, tech will anticipate what you need or want before you even realize it. My favorite store, for instance, will predict what products I like and send me a relevant offer.
  6. You will be the “master orchestrator.” Tomorrow’s tech will empower users to blend data streams with on-demand information from the cloud to help smartphones “think” and suggest ways to make lives easier. Connected services also enable the user to trigger an action; big data analysis, personalization and machine learning will be key elements of the “orchestrator” toolset.

The cutting edge of cool means rejecting the unattainable Bond fantasy for the increasingly available Bourne reality. The cialis and nasal congestion Internet of Things is ushering in a new lifestyle with seamless orchestration of information services and the corresponding real-world entities. Every setting we encounter will be ready to interact for fast, easy, smooth, smart and automatic collaboration. 700-501 Who needs James Bond’s buy viagra in mexico “license to kill” when the new urban mobile lifestyle can give you Jason Bourne’s “license to thrill”?