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Strategic Database Marketing by Arthur Hughes

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13Analytics and Modeling

 

Predictive modeling makes it possible for businesses to react to what their customers are going to do rather than what they have already done. It begins by identifying a problem or opportunity—losing too many valuable customers or a need to grow the customer base, for example—and possible actions to address it. It models each customer’s likely response to various possible actions and helps the marketer choose the most appropriate action for each of those customers.

MICHAEL J. MCDERMOTT

 

There has been a strong push back on analytics with marketers. It’s not to say that analytics isn’t important, but if all decisions came back to what the analytics told us, then marketers wouldn’t be needed. Creativity, gut instinct, ...

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