School of Analytics: What Can Predictive Analytics Help Me With?
Welcome to the next School of Analytics installment. We’ll be taking a deeper look into predictive analytics, and what it can do to help your marketing strategy.
When you’re using marketing analytics to enhance your marketing strategy, you need to make sure that you’re able to draw the right decisions from the analytics tool you’re using. In order to accelerate your marketing with the greatest possible value, your analytics approach needs to be carefully calculated.
Using a marketing analytics tool with predictive capabilities is key here. Instead of just looking at historical data and guessing possible outcomes from this, you can make more calculated decisions. Predictive analytics removes the guesswork and makes sure that you’re gaining a more insightful outcome from your data.
Marketing Route to Value
The best way to accelerate your marketing strategy is to utilize predictive analytics. In order to achieve success with advanced marketing analytics, you need to have a clear and accurate plan. This is where planning your route to value is so important. So what is route to value in marketing?
Marketing route to value is when you analyze the different factors that could influence and affect a marketing campaign before you implement this campaign. This is done to understand exactly which routes will be most effective and efficient in comparison to your marketing spend. With a clear route to value in place, you will be able to maximize your ROI and know that your marketing strategy will deliver the right kind of results based on your goals.
Various different factors are considered in order to find the best possible opportunities. The process involves exploring time lag, analyzing different causes and effects, optimizing the route to value, and then revealing your marketing ROI.
To learn more about planning your route to value, check out the podcast where we interview big value players like Sangram Vajre.
Using Predictive Analytics to Maximize Your Route to Value
Marketing analytics tools with predictive capabilities help to plan the route to value for you. Various factors are considered, and the advanced analytics tools allow you to visualize a clearer route to help make smarter decisions.
Using tools like Proof allows you to map out your to value in advance. This gives you a far more accurate understanding of the kind of possible outcomes your marketing strategy could deliver. If you want to make sure that your marketing investments deliver the best possible ROI and results, then using predictive analytics is a must.
Without predictive analytics, you won’t be able to fully explore the cause-and-effect relationships that influence your final decisions. Predictive analytics makes calculated, data-driven decisions that result in clear outcomes. If you don’t use a predictive analytics tool, then you will be relying on guesswork from historical data only, which doesn’t offer an accurate insight into your ROI.
Planning and understanding your marketing route to value is important for being able to achieve the best possible marketing effectiveness. The right tool will allow you to track and measure all of your marketing investments and apply comparable ROI metrics. The goal here is to develop a smarter understanding of which possible outcome will yield the best results for your marketing mix.
Using marketing analytics is only really effective if you are able to make empowered decisions that add real value to your marketing strategy. The most effective and reliable way to achieve this is through a predictive analytics tool.
Proof Analytics offers a powerful marketing analytics platform to help you map out your route to value and understand the most optimal marketing decisions to make. This can be compared to a GPS that helps to add maximum value to your marketing strategy.