We covered the topic of predictive and prescriptive marketing insights in our previous School of Analytics article. Today we will be looking at automated predictive marketing insights, and how this compares to manual processes.
When data scientists make decisions from their marketing analytics, they have the option to make automated decisions or they can take a manual hands-on approach. The goal is to provide the most amount of value through smart data-backed decisions. This is all done to achieve a maximum ROI for your marketing mix.
Let’s take a look at automated predictive marketing insights vs manual insights, and see which approach is best to use in the marketing mix.
Understanding Automated Predictive Marketing Insights
We understand the value of using data and analytics to prove value in your marketing strategy. However, using analytics is only as powerful as the decisions you are able to make. This is where predictive marketing analytics is important.
Predictive marketing automation uses predictive insights and connects insights with action to deliver intelligent solutions. The goal is to deliver the smartest marketing opportunities based on data. This is all achieved through innovative machine intelligence.
Automated predictive marketing insights can help data scientists to make purely data-driven decisions in less time. These are decisions that are specifically designed to add maximum value to the marketing mix. Instead of relying on intuition and human calculations, the outcomes are automatically determined.
Manual Marketing Insights
The traditional approach to data science is through a manual, hands-on approach. We’ve been doing things this way for years, and we know that it can work. However, this isn’t always the most optimized solution.
Producing manual marketing insights takes time. It requires significant human thought and calculation. When you need to scale this, to make more decisions over a larger marketing mix, then this can be an incredibly slow process.
Of course, the time-consuming process of manual marketing insights can also be costly. Especially when this is applied to a larger scale, the cost of delivering insights for your marketing strategy increases.
Human error is also an important factor. Even the most experienced, smartest humans make mistakes. Mistakes are always a possibility, and they could be costly to your business. This is why machine predictions are often a smarter choice.
Comparing Automated Predictive Marketing Insights vs Manual Insights
With manual data insights being slow to scale and more expensive, taking an automated predictive approach is the smarter choice. Not only does it make the process more efficient, but it produces consistent accurate insights and decisions. This is the easiest way to make smarter marketing decisions.
Not using predictive marketing insights will low down the growth of your business. If you are still relying on manual processes, then your growth path will be at risk. Not only will you be spending more money on making marketing decisions, but growth will be slower. This is why businesses need to adopt predictive marketing insights now to accelerate more long-term growth.
It’s best to predict future scenarios through machines, and let humans test and refine these decisions. If all predictions are left up to humans, the marketing strategy will not be adding the maximum amount of value to the business.
No matter how much data your business has available, the data is useless if proper decisions and outcomes aren’t drawn from it. When utilizing marketing analytics, a major focus needs to remain on the process of obtaining marketing insights.
In today’s world, using automated predictive marketing insights is the smartest solution for long-term growth. This approach is necessary for coming up with smarter decisions in less time. It will cost less money, and can easily scale with your business.
Taking this approach now is important, as your business will slow down its growth path when it relies too heavily on manual insights. A better approach to gaining marketing insights is necessary for a more impactful marketing strategy.