Last Updated: June 27, 2017
Twice a month, we bring you headlines from around the industry to keep you informed of the latest trends and conversations. Whether you are in IT, finance, sales or marketing, we are your go-to source for how the intersection of predictive analytics, machine learning, and AI is transforming business planning.
Marketing Needs Quality Data Before Big Data and Predictive Analytics
Articles and information detailing the advantages of using predictive analytics, big data and machine learning in marketing are prevalent. However, to see the true value and capabilities of these technologies, quality data is non-negotiable. In its annual benchmark report on global data quality, Experian’s data quality arm reported that while most businesses globally (and 95 percent in the U.S.) use data to meet their business objectives, less than 44 percent of them trust their data. Read more here.
Manufacturers have adopted a number of technologies to gain more control over their supply chains. From IoT sensors to advanced predictive analytics, they are implementing these technologies to cut costs and improve margins. The most common practice is using these technologies to collect data and perform advanced analytics against that data to avoid equipment breakdowns and other delays & failures. However, more benefits can be realized when deploying predictive analytics across the organization. Today, manufacturers are moving forward to see an increase in operational and organizational benefits. Read more here.
CMOs are projected to overtake CIOs in yearly tech spend this year. They are quickly becoming the new owner of the data and technology around which companies should organize. These marketing leaders are driving innovation in predictive analytics technology due to the need to continuously optimize and have real-time insights into consumer preferences. In fact, according to Forrester Research, marketers that have adopted predictive analytics are twice as likely to exceed revenue targets and lead in market share. Additionally, 83% of these marketers have noted considerable business impact. Read the rest here.
Want more AI and predictive analytics news? Be sure to follow us on Twitter for the latest.