by Eric Siegel, Ph.D.
Question: How does predictive analytics actively deliver increased returns? Answer: By driving operational decisions with predictive scores - one score assigned to each customer. In this way, an enterprise optimizes on what customers will do.
But, in tough times, our attention turns away from increasing returns, and towards decreasing costs. On top of boosting us up the hill, can predictive analytics pull us out of a hole? Heck, yes. Marketing more optimally means you can market less. Filtering high risk prospects means you will spend less. And, by retaining customers more efficiently, well, a customer saved is a customer earned - and one you need not acquire.
This article delivers six ways predictive analytics lowers costs without decreasing business, thus transforming your enterprise into a Lean, Mean Analytical Machine. Example brand-name case study results are provided along the way.
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