Online astrology websites have been the first movers on using Predictive Analysis. They’ve been using data and data-base driven technologies, for eons, to generate your horoscope within seconds. And today with AI, it can happen in real time, with real time data.
By analyzing large amounts of data, AI can identify patterns and predict future outcomes, such as which marketing channels are most effective or which customers will convert. By focusing on the most effective channels and strategies, marketers can optimize their campaigns for maximum ROI, reduce costs, and increase conversions by targeting the best prospects.
It is possible to perform predictive analytics using several tools. Your digital agency or a specialist service provider is most likely to provide this service. Before choosing your partner, you should familiarize yourself with the following programming languages and platforms:
The choice of predictive analytics tool depends on factors such as the complexity of the data, the size of the dataset, and the specific project requirements. With artificial intelligence, marketers can analyze large amounts of data to identify trends and patterns that can be used to predict future outcomes. This can help them optimize their campaigns for maximum ROI.
Here are a few examples of brands using predictive analysis in paid media campaigns
By leveraging data and analytics, these brands were able to optimize their strategies, improve their customer experience, and achieve better results.
According to studies, predictive analysis can significantly increase the return on investment of paid media campaigns. Aberdeen Group, for instance, found that companies that used predictive analytics in their marketing saw an increase of 22% in conversions and a 46% increase in customer retention on average. In another study, Forrester Research found that companies that used predictive analytics increased their marketing ROI by 10-20%.
In the context of paid media campaigns specifically, predictive analysis can help optimize ad targeting, ad placement, and ad messaging to reach the right audience at the right time with the right message. This can lead to increased engagement, higher conversion rates, and improved ROI.
According to the industry, target audience, and campaign objectives, predictive analysis can have a different impact on paid media campaigns. In order to ensure that brands are effectively leveraging predictive analytics in their paid media campaigns, it is important for brands to work with experienced data analysts and marketing professionals.
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