MarTech: 4 AI categories impacting marketing: Predictive analytics

This article was written by Greg Kihlström for MarTech. Read the full article here.

While this area of AI has been around long enough, it shouldn't be a substitute for strategic oversight by humans.

In this four-part series, we’re exploring four categories of artificial intelligence (AI), how they can meaningfully impact marketers and their customers and what to potentially avoid. Part one (Generative AI) is here.

In this second article, we’ll look at predictive analytics — tools using data such as user behavior (aggregated and per-customer basis) and other factors to provide marketers with predictions of future behavior and other trends.

What is predictive analytics?

Predictive analytics builds on the wealth of data companies have on their customers’ behavior and actions and other trends and information that might be available to them. Therefore, it is AI that makes predictions about future outcomes using historical data combined with statistical modeling, machine learning and other forms of analytical tools. 

While generative AI tools like ChatGPT are getting most of the press these days, as many as 95% of companies are currently incorporating some type of predictive analytics into their marketing.

This article was written by Greg Kihlström for MarTech. Read the full article here.