Blueberry Wave’s predictive modelling forecasts your customers’ future behaviours – enabling you to make better decisions and retain their custom long-term.
Although you have probably heard many times that predictive analytics will optimise your marketing campaigns it’s hard to envision, in more concrete terms, what it will do. This makes it tough to select and direct analytics technology. How can you get a handle on its functional value for marketing, sales and product directions without necessarily becoming an expert?
Predictive analytics’ central building block is the predictor, a single value measured for each customer.
Predictive modelling is a process used in predictive analytics to create a statistical model of future behaviour. Predictive analytics is the area of data mining concerned with forecasting probabilities and trends.
Our predictive modelling uses all the data from our database profiling and RFM Analysis, which has defined your customers’ purchase behaviour. Through analysis of these key customer attributes and behaviours, such as what they’ve bought from you in the past, or how much they typically spend, we can present you with key information to help market services smarter and more effectively.
Our models combine all elements to give you the greatest accuracy in who you should message, when, and how to make your marketing spend as effective as possible.
Robust, fully-tested models that work for your business
To carry out our predictive modelling our Blueberry Wave analysts typically use three mathematical routes:
We use the best modelling technique for your business needs, based on the data you hold plus market data.
With Blueberry Wave’s predictive modelling, the results reflect reality. Before running with our predictive models on a live campaign, we ‘road test’ them against past data to see how accurately they predict what actually happened. By testing our models thoroughly, we give you confidence that they will work.