Marketing Mix Model
New marketing channels are emerging, such as digital and social media. As a result, finding the right mix of campaigns and promotions has become more challenging. To ensure maximum return on marketing investment, marketing professionals must know what has been working, and what is likely to work in the future.
Successful Predictive Models for Sales and Marketing
To get the most out of their predictive analytics implementation, sales and marketing departments should follow certain key steps:
Understanding the Business Need
It is crucial to identify the drivers behind the predictive analytics project in the early planning stages. Once an organization defines what new information it is trying to uncover, what new facts it wants to learn, or what business initiative it wants to enhance, it can build models and deploy results accordingly.
