Econsultancy’s Jeff Rajeck is publishing a series of articles focused marketing analytics. Previously he has posted about Descriptive Analytics, Diagnostic Analytics and Predictive Analytics. He has published the fourth article on Prescriptive Analytics.

Rajeck says, “Paradoxically, understanding the complex area of prescriptive analytics starts with a simple question. In marketing, why do we do what we do?

Dispensing with trivial answers to that question, most marketers do what they do because, relying on experience and reflection, they believe it is the right thing to do. For example, a food delivery service may notice that their customers tend to buy more often on weekends.  A seasoned marketer would then recommend that the company offers discounts mid-week to boost business.

With the right data, marketers can automate the process of noticing a consumer’s behaviour and sending an offer. Additionally, they can look for other behavioural patterns which can also be influenced with appropriate actions.

Finding the right data and devising the rules to recommend appropriate actions is the essence of prescriptive analytics”.

Analytics approaches every marketer should know #4: Prescriptive analytics

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