Page 8 - AeM_Aug_2018

RESEARCH, ANALYSIS & TRENDS

Combining marketing, controlling, and IT is

highly recommended to be able to serve

tailor-made offers without asking questions

What if we could use our customers' complete buying oriented minds. This is best ensured with powerful
history, including all transaction data, to predict the next analytical systems, be it descriptive, predictive or
most likely purchase for each customer? This prescriptive analytics.
information would allow us to conduct individual
marketing communications and provide tailor-made Make my day
offers at the right time to each and every customer
without even asking one single question. Descriptive analysis is the classic reporting feature that
has always been familiar to the controller and describes
Here we go the status quo, the historical development of the
company, based e.g. on target deviations. The resulting
Big Data is making all this possible with its ability to "diagnostic analysis" tries to track down causes from
detect correlations and patterns where human beings these results, such as e.g. “why are the costs above
only see data chaos. Still important, however, is making budget or why are sales going down?”
sure that data is up-to-date, relevant and comes from
guaranteed trusted sources, which sounds easier than it In future, the time gained through automation will be
is. Consistency checks and data cleaning is used for predictive analysis, and there is a plethora of
unfortunately a task located somewhere in the no-man's software tools available that can detect patterns from
land between marketing, controlling and IT. The fact that the vast amounts of data or draw correlation between
data is often still generated and kept in different systems seemingly unrelated data. Such software is used not
- the famous "data silos" - accessible only by the only to make forecast by means of algorithms, but to
corresponding department, make things worse. These calculate the probability of occurrence of certain events
systems must merge and get properly integrated, which and to determine the distribution of risk.
requires controllers that have expertise in both IT and
process optimization and are first and foremost future- Today, computers can predict relatively accurately who
will cancel a newspaper or magazine subscription or

8 August 2018 - Predictive Algorithms & Native Ads