RedEye and Econsultancy's latest Predictive Analytics report follows on from last year's survey of 400 marketers, this time focusing on achieving predictive maturity.
The previous report established a predictive maturity model, identifying respondents as ‘Starting Out’, ‘Developing’, and ‘Strategic’. This model has now come to represent the journey most companies are taking as they strive to better understand customer needs.
Based on a series of interviews with senior practitioners from top brands, along with insights from other primary Econsultancy research, this report examines how companies move from that limited, 'Starting Out' state to having predictive capabilities at the centre of their business.
Through these interviews, Econsultancy discovered that a growing sophistication in data-based modelling and insight moves companies closer to the world of automation and machine learning.
Previously, more than a third of organisations were at the very beginning stages of predictive analytics, lacking the expertise, budget, or resources to harness meaningful gains. Since then, organisations of all sizes have put a lot of effort into predictive – the effects of which are clearly visible in this year’s report.
Predictive modelling can be a steep curve from both a learning and investment perspective. However, with the foundations in place, machine learning should allow computers to learn without being directly programmed.
What you can find in our Achieving Predictive Maturity Report:
The amount of data brands can access is increasing daily, but do brands have enough of the right data? Find out more in our report.
Discover why maintaining up to date, relevant data is an essential requirement to ensure effective predictive modelling.
The rise of automation has been a huge boon for marketers, from email campaigns to self-check out terminals. Discover how automation can contribute to predictive maturity.
How predictive modelling can assist your business goals and more.