|The range and volume of data that can feed data mining and predictive analytics models increases un-abated. With the rise of social media, enterprises potentially have access to more data about their customers than ever before. But, more data doesn't necessarily mean better predictive insights. Companies are increasing their ability to tap into data about their customers and markets to improve their sales and marketing effectiveness. For example, an Aberdeen benchmark report published in February 2009 (Predictive Analytics: The Right Tool for Tough Times) found that Best-in-Class companies were able to grow incremental sales by 24%, since adopting predictive analytics.|
Aberdeen's research found that the top strategy of Best-in-Class companies (the top performing 20%) is to improve the targeting of their marketing offers. By doing so, they are able to improve their marketing response rate, grow incremental sales and reduce customer churn.
Tuesday, October 26, 2010
Posted by admin at 11:00 AM