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Predictive Analytics Definition
Predictive analytics leverages machine learning and statistical models to analyze existing data and predict future events, such as purchase likelihood, churn risk, or ad performance. It enables marketers to make proactive, data-driven decisions.
How Predictive Analytics Works
- Historical data is collected from campaigns, CRM, or user behavior.
- Algorithms identify patterns and correlations.
- Predictions are generated (e.g., high-value leads, likely buyers).
- Marketers adjust targeting and strategies accordingly.
Example of Predictive Analytics
An e-commerce platform uses predictive analytics to identify customers likely to purchase based on past browsing behavior.
Why Predictive Analytics Matters in Advertising
- Improves targeting precision and resource allocation
- Increases campaign efficiency by anticipating user behavior
- Reduces churn and enhances customer retention
- Empowers data-driven, proactive marketing strategies
