Seven Key Trends in Predictive Analytics

  • Data enrichment with third party and census data – if your organization is starving for data

If data is the oil, the way Economist magazine characterized it, you need to have a mechanism to keep your engine working right.  There are powerful third party data as well extensive census data that are available for enriching your data vaults. It will get lot more easier as ‘open data’ becomes more pervasive.

  • Text analytics – extensive discussion is provided in Eric Siegel’s book on IBM Watson

Eighty percent of data is non-standardized. The sentiment analysis is subset of this.

  • Ensemble methods – extensive discussion is provided in Eric Siegel’s book
  • Addressability and scalability of survey intelligence: Segmentation based on sample surveys and how to extend the survey based on customer intelligence to the whole consumer/customer base
  • Integrating email marketing with web surfing data 
  • Combining brick (physical store visits data) and click (web store) data  and optimizing offer
  • Engaging consumers through a curriculum of messaging activities similar to President Obama’s 2012 campaign

From Data Monster & Insight Monster

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