Like AI and machine learning, predictive analysis has become a bit of an Internet buzzword in the last few years. The technology already has a wide variety of applications for marketers -- predictive advertising is just one of them. If you're among the many who are still fuzzy about what predictive analysis is, here's a rundown on how it's changing the way marketers advertise today. Predictive advertising is a marketing application of predictive analysis. Predictive analysis, by definition, is the use of consumer data, artificial intelligence and statistical algorithms to identify what could happen in the future.
AI and machine learning are making the customer experience more personalized and contextual than ever before. Banks and credit unions are using advanced technology to make websites, emails, digital advertising, social media and other content more efficient and effective. This is increasing marketing ROI as well as customer satisfaction. Subscribe to The Financial Brand via email for FREE!There is a great deal of discussion of the potential value of artificial intelligence, machine learning and robotics in banking. Unfortunately, much of the implementation of these technologies lags the potential by a significant margin.
Every year, new advancements within the technology space have assisted businesses by creating new opportunities for customer outreach. Over the last couple years, the B2B space has noticed real potential in incorporating Artificial Intelligence in Marketing, however, there is still a significant lag in adoption. A good handful of enterprise giants dread the idea of automating their marketing functions with the use of AI, however, by measuring the effect of AI in the customer service industry, one can affirm that understanding customer nuance and deriving insights from relevant customer data will not be entirely manual or managed by humans alone. Research shows that, approximately 70% of US citizens prefer to shop online. Additionally, total revenue generation from online ads has exceeded that of TV, desktop and newspaper ads.