In this edition:
Training. Predictive Analytics for Business, Marketing and Web
Article. Predictive Analytics' Killer App: Retaining New Customers
Article. Predictive Analytics for Revenue-Generating Response Models
Conference. Emetrics Summit
Services. General Information about Prediction Impact, Inc.
Predictive Analytics for Business, Marketing and Web
Business metrics do a great job summarizing the past. But if you want to predict how customers will respond in the future, there is one place to turn predictive analytics. By learning from your abundant historical data, predictive analytics provides the marketer something beyond standard business reports and sales forecasts: actionable predictions for each customer. These predictions encompass all channels, both on-line and off, foreseeing which customers will buy, click, respond, convert or cancel. If you predict it, you own it.
Predictive Analytics for Business, Marketing and Web is a concentrated training program that includes interactive breakout sessions. In two days we cover:
- The techniques, tips and pointers you need in order to run a successful predictive analytics and data mining initiative
- How to strategically position and tactically deploy predictive analytics and data mining at your company
- How to bridge the prevalent gap between technical understanding and practical use
- How a predictive model works, how it's created, and how much revenue it generates
No background in statistics or modeling is required. The only specific knowledge assumed for this training program is moderate experience with Excel.
This Prediction Impact training is offered in conjunction with the Emetrics Summit.
For course details, topic outlines, instructor bio, venue information, registration, on-site training options, and the $100 early-bird discount, see:
Predictive Analytics' Killer App: Retaining New Customers
There is a goldmine of growth available to certain lucky businesses those with many one-time customers. To these companies with a large portion of new customers never returning, the flow of passers-by presents a unique opportunity.
Tapping into this potential source of revenue is the subject of Predictive Analytics' Killer App: Retaining New Customers, an article published in DM Review's February 2007 Extended Edition. While some businesses use the standard approach to winning over one-time customers broad improvements in business operations such as revamped marketing or personalized service readers will learn how to instead predict which first-time customers are least likely to return, and how businesses can target aggressive conversion campaigns in that direction. This saves directing costly improvements and incentives at customers likely to return anyway.
Title: Predictive Analytics' Killer App: Retaining New Customers
Author: Eric Siegel, Ph.D.
Click here for the article
Predictive Analytics for Revenue-Generating Response Models
The January 2007 DM News' Essential Guide to Lists, Database Marketing & Data Services includes an article by Prediction Impact President Eric Siegel spotlighting how response modeling with predictive analytics offers something very different from standard business reporting and sales forecasting actionable predictions for each customer.
This special form of business modeling foresees each customer purchase, response or cancellation, and predicts the behavior of existing or prospective customers under certain conditions. Results can be used to target sales campaigns, marketing efforts and other business activities.
Title: Predictive Analytics for Revenue-Generating Response Models
Author: Eric Siegel, Ph.D.
Click here for a 2-page PDF that contains the article
Marketing managers, web analysts and business intelligence experts have been meeting at the Emetrics Summit since 2002 to learn how to increase their return on online investments. This year's Emetrics "The Big Picture" summit continues to offer online marketers of all levels an intensive learning experience, expert advice and strategies to optimize online marketing value.
Keynote speakers include Founding President of the Web Analytics Association Jim Sterne, BestBuy.com's Director of Customer Experience Lissa Gatz, and Microsoft's Platforms and Solutions' Senior Director of Customer Intelligence and Analytics, Seth Romanow.
The Emetrics "Big Picture" summit will be in San Francisco May 6-9 at the Palace Hotel (on New Montgomery Street, near the financial district).
Over four days, the conference agenda covers a wide range of topics to provide a holistic view of web marketing optimization. Marketers will learn from insightful sessions on optimizing display ads and landing pages, web 2.0, conversion marketing, real-life case studies and more. Attendees will also enjoy in-depth lessons covering topics such as search analytics, competitive analysis, persuasion architecture and web marketing best practices.
The Emetrics Summit will be followed May 10-11 by Predictive Analytics for Business, Marketing and Web, a seminar offered in conjunction with Emetrics and led by Eric Siegel, Ph. D., President and Senior Consultant of Prediction Impact. (This seminar will be held at the San Francisco Marriott Hotel, just two blocks from the Emetrics Summit venue. More information on this seminar is included in a prior section of this newsletter.)
For more information on the Emetrics "Big Picture" summit, please visit:
General Information about Prediction Impact, Inc.
Based in San Francisco, Prediction Impact, Inc. (www.PredictionImpact.com) provides consulting services over a range of disciplines, including predictive analytics, data mining, business intelligence, and text mining. Prediction Impact consultants have gained a great deal of commercial experience, working with large banks, manufacturers, retail firms, and online businesses, and enabling these organizations to learn from their data. Most Prediction Impact consultants have earned a Ph.D., demonstrating a deep technical familiarity with modeling and data mining methods.
For more information, contact Eric Siegel, Ph.D., President and Senior Consultant for Predictive Analytics:
phone: (415) 385-1313
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