Five ways retailers are using predictive analytics

The primary aim for predictive analytics is to leverage Big Data to make better business decisions. Predictive analytics cannot guarantee an outcome – but it can help minimize risk and reduce uncertainty. Predictive marketing tools can also be hugely beneficial to the customer experience, making them highly desirable in the ecommerce sector.

How else is the world of retail using them? Here are just a few examples:

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Four real-time engagement apps that customers love

The greater the extent that a customer is prepared to spend time with a company, the more chance that they are likely to become loyal, profitable advocates for your brand. And it’s this focus on customer engagement that is becoming an increasingly important for marketers. A recent report conducted by B2B Marketing and the Telemarketing Company revealed that 81% percent of respondents consider it a top priority.

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How can your marketing department use predictive analytics?

The chance to see into the future is an opportunity that not many businesses are likely to turn down. Unfortunately, without any time-traveling DeLoreans, crystal balls or incredible discovery by a quantum physicist this isn’t likely to happen any time soon.

The closest marketing departments have for the time being are predictive analytics – a technique that is much older than you might think, with origins that go back as far as the 1940s.

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