A quick refresher on the three kinds of analytics:1. Descriptive: collects data which describes customers’ past actions and behaviours, and analyses it to try to find patterns which explain that behaviour;
2. Predictive: takes the historical descriptive data and patterns contained within it and uses that to try to predict what those customer might do in the future;
3. Prescriptive: takes a more strategic approach and uses data, trends and predictions about customer behaviours to help inform recommendations on actions (such as process changes, changes in marketing tactics) which might help change the customers’ behaviours and move the company closer to achieving it’s business goals. [Read more…] about Prescriptive Marketing Analytics: Strategy into Action