Preditive Analytics

Website hits are great but orders are better. Predictive Analytics is simple, by applying statistical models and mathematical algorithms to one to five years of transactional data we can predict future sales/revenue probabilities and marketing trends. Depending on your transactions for multiple products via ecommerce, retail, telesales or direct sales, we are able to report how revenue is divided among new and existing customers to compare customer growth, loyalty and buying patterns.

Who to target? We find out who are the Likely buyers (50% + probability of purchase; predictive response rate) and identify behavioral indicators (loyalty rank).

What to sell? We find out how to upsell or cross sell (by product category) by offering active, newly inactive, 1x, 2x buyers the appropriate product to their demographic, need, propensity to buy or even their likelihood of defection to a competitor. Need more convincing about Predictive Analytics?

The top three reasons current and future users gave for implementing predictive analytics are: to obtain strategic insights (75 percent); achieve decision support (57.1 percent); and enact decision automation (46.4 percent).

Perhaps the most promising insight revealed by the Predictive Analytics World survey is that the majority of respondents who have deployed predictive analytics have attained a positive ROI, even for their least successful initiative. In their most successful deployment of predictive analytics, 90.1 percent of respondents saw a lift in ROI.

For a complete analysis of the survey results, click here to download:

Our proprietary relationship with one of the top predictive analytics firms in the country allows our customers to “babystep” into the world of datamining and predictive analytics without a huge software investment. After trying it out and applying strategies that yield sales, our customers are hooked but we can still utilize the pay-as-you-use model. To start a conversation about what your transactional data can tell you about your customers, call Three Lakes Marketing at (888) 842-0292.