NEWS: Predictive analytics trumps traditional data analytics
Predictive analytics outperforms more traditional methods of data collection, according to a study commissioned by Radius.
The research, carried out by Forrester Consulting, indicates that predictive analytics users are twice as likely to exceed several key business metrics, including revenue growth target and marketing goals for revenue contribution.
Marketers cited limited visibility into their target markets as their main challenge, but 86 per cent of recipients recognise the new market opportunities accrued through predictive analytics.
The survey also showed that advanced users of predicitve analytics benefited from understanding how and why their customers buy and were able to optimise their marketing mix in order to reach their intended demographic.
John Hurley, director of product marketing at Radius, commented: “As the findings of this study prove, the best B2B marketers are predictive analytics users. This is because they can pursue new market opportunities and attract, analyse and engage customers with insights backed by data science, not guesswork.
“Given our goal for this study was to evaluate the use of predictive analytics among B2B marketers, we were excited to find the majority of companies have already incorporated these systems into their marketing arsenals and are actively driving business growth. We’ve entered an age where technology and data science can deliver the power of analytics to marketers.”
For more information on predictive analytics in B2B, check out our latest feature.