Predictive analytics refers to the use of data, statistical algorithms and artificial intelligence to identify possible future outcomes in terms of marketing. It helps you to analyze customer responses or purchases and explore cross-sell opportunities.

ClickZ contributor Adriana Lynch has shared three strategies to help you use predictive analytics to boost your business growth.

Lynch says, “Let’s look at some of the key predictive tools and how they can be deployed to help your business:

1) Predictive modeling of customer behavior

Using data points gleaned from previous campaigns (particularly, those data that help us understand what worked and what didn’t), plus all demographic information known about your customer base, you can build predictive models to draw correlations to link past behavior and demographics.

This model endeavors to score each customer according to their likelihood to buy certain products, and projects when and how to best approach this individual”.

Three ways to use predictive analytics to grow your business

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