Yes, software services cost money, and there are some expensive options, but hear us out because we’re confident that the right tool predictive analytics tool can create room in your budget.
First, a refresher for those who need it, predictive analytics is a variety of statistical techniques gathered from predictive modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future or otherwise unknown events.
Predictive Analytics can tell you the next action your customers are likely to take so you can target those whom you are able to impact and not waste resources on the rest.
Take UPMC as an example. UPMC, or the University of Pittsburgh Medical Center, is a $23 billion nonprofit healthcare provider and insurer in Pennsylvania, New York, Maryland, and several locations internationally. Using Squark’s no-code predictive analytics solution, they were able to take their targeting for their living donor liver transplants (LDLT) program from 1 in 10,000 to 1 in 75 to get results. Additionally, the team was able to generate the predictions that led to the improved targeting strategy in one day instead of waiting months for the data science team.
Those results have allowed them to run more campaigns and experience to get the most value possible out of their budget.
“When you’re a marketer, and you’re [targeting is] going from 1 in 10,000 to 1 in 75, it lets you stretch what you’re able to do with those dollars…Instead of doing one of those [campaigns] a year, I can look at doing 4, 5, 6 a year of these really targeted programs a year and really deliver value.” – Jake Collins, Director of Marketing Intelligence at UPMC.
The real impact is in applying the learnings to make your marketing strategies, programs, and campaigns more effective by driving more conversions while also spending less money.
The efficiencies gained in time and money are allowing marketers to spend more time on the more creative part of marketing, like testing out new theories and programs to get to the next level.
“[With Squark], the cost of analytics has become low enough that there is less of a fear of failure. We can chase hunches which I think is part of the reason I get interested in new models, new tools, and new ways of doing things because it provides my staff the opportunity to stretch their legs and be curious and see what might be out there. I think that’s where the bulk of innovation comes from in analytics.” – Jake Collins
Takeaway: The right no-code predictive analytics is both affordable and powerful. It can find opportunities and risks in your existing programs to improve strategies and get the most value from your existing budget.
Contact our team today to schedule your free demo and discuss how Squark can create room in your marketing budget.
Squark no-code AI SaaS platform is the most flexible, fastest, and easy-to-use automation of AI on the planet. Use clicks (not code) to automatically find AI-insights in the data you already have. Prioritize decisions and know what actions to take using any data from any system. Drive growth and expansion by forecasting customer outcomes over time, understanding attribution & media mix, predicting lifetime value, and improving retention . Squark’s no-code AI is as simple and easy-to-use as a spreadsheet. It’s built for analysts yet our award-winning software is more powerful, accurate, scalable, and feature-rich than many other AI systems deployed in business today.