Predictive Modeling is the Future of Digital Marketing
Predictive modeling is a process used in predictive analytics to create a statistical model of future behavior in Digital Marketing. Predictive analytics is the area of data mining concerned with forecasting probabilities and trends within the digital space.
A predictive model is made up of a number of predictors, which are variable factors that likely influence future behavior or results. In digital marketing, for example, a customer’s gender, age, clickpath and purchase history might predict the likelihood of a future sale or conversion.
In predictive modeling data is collected for the relevant predictors, a statistical model is formulated, predictions are made and the model is validated and optimized as additional data becomes available. The model may employ a simple linear equation or a complex network, mapped out by sophisticated platforms and tools.