Role of Predictive Analytics
Predictive Analytics is a very new domain when it comes to the field of online marketing and e-commerce. Some online players still consider it complex, something, which is difficult to sell to the executives considering, a huge investment it requires in terms of hardware, statistical tools, and most importantly, the right people in-house. On the contrary, we have online players, who have realized the potential of this concept, and have already started investing in this area either, by building their in-house team of Predictive Analytics or, outsourcing to a team of experts offering automated predictive solutions. With markets becoming more competitive by the day, data size exploding, and ‘big data’ concepts becoming increasingly important, the role of predictive analytics in selecting the right set of information, identifying the underlying hidden patterns, and providing in-depth actionable insights is becoming indispensable to sustain and be equally competitive in the industry. But, Predictive Analytics-driven recommendations are incomplete in isolation, because even the best of insights may go unheeded if, the right people in the company are not approached. Here at Nabler, we have experienced that, even the VP of Digital Marketing needs support from the Senior Executives by presenting a solid business case for investment before, he/she teams up with Sales, IT, and their Support Desk. Being a VP of Digital Marketing, you can choose the Predictive Analytics technology, vendor or solution, but when it comes to big data, it’s about collaboration and data sharing.