As an MBA student, I often wonder “why all the math courses?”. When I recall statistics and probability courses as an undergrad though, I remember how this excited me about running my Google Analytics numbers through some of those algorithms – just to see what would turn up, right?
I continued after graduation by taking some data science courses that further helped me understand the relationship between past analytics and predictive marketing. As a marketer, no phrase is truer than “those who cannot remember the past are condemned to repeat it“. We should constantly evaluate our statistics to see if we can improve upon the areas we have done well and change the areas where we have done poorly.
When it comes to analytics, I saw a presentation months ago although I cannot remember the source. The speaker said that past analytics was descriptive, present analytics was streaming, and future analytics was predictive. This made perfect sense to me.
Descriptive is the perfect word for past analytics because it describes what took place. The thing I like about number is, number don’t lie. The numbers themselves cannot be twisted, only the interpretation of the number can be twisted. Analytics is a powerful tool for marketers to understand the effectiveness of their campaigns and provide feedback for designing future campaigns.
Present, or streaming, analytics refers to real-time analytics. Have you seen Google Analytic’s real-time mode? Its really quite fascinating, because you can actually watch activity on your website as it happens. Although I do question its overall usefulness, I do find it interesting to watch during the day.
This brings us to predictive marketing. How cool would it be to create marketing campaigns based on past analytics? If you really dig into your data, you might be doing that already. For instance, if you find that your demographic is 65-70% female, this would probably change the way that you approach the topics that you’ll use for inbound marketing content.
Its all about relevancy and understanding your users. What better way than to study past behaviors and use that to design content and campaigns that you’ll use in the future. Welcome to predictive marketing.