liferay overview of predicitve analytics

Why Predictive Analytics and Content Targeting Makes The

Best User Experience

Joseph Brandenburg

Predictive Analytics Practice Leader · Dunn Solutions

•Predictive Analytics examines patterns found in internal and external data to identify future risks and opportunities.

•Projecting where the Best and Sweetest Nuts are to be found hidden amongst all the trees and other nuts.

What is Predictive Analytics?

•It helps to assess, predict, and solve business problems using lots of data

What does Predictive Analytics provide?

Strategic Modeling and Forecast Prediction

Market Blended

Econometric

Factors

(Home

Owners)

Broker and

Distribution

(Home Owners)

Claims

Experience

(Home

Owners)

Legal /

Regulatory

Environment

(Home

Owners)

Our

Competitive

Landscape

Compared to

the Industry

(Home

Owners)

Wealthy

Home

Owners

Buyer

Density

Wealthy

Home

Owners

Market Size

Market

Power

Ranking

Report

(Home

Owners)

Market

Penetration

(Home

Owners)

Category

Development

Index /

Sales

Strength

(Home

Owners)

Category

Development

Index p

(Home

Owners)

Market Outlook

(Home Owners)

Ft. LauderdaleStrong Strong Good Good Strong 6.5 125,451 7.40 10.6% 130.93 0.65

Spend More Effort

Expanding

Kansas CityStrong Strong Good Very Good Strong 6.0 45,804 7.10 8.4% 72.17 0.36

Spend More Effort

Expanding

Power Ranking Report

Detail – Policy and Claim

Data mining for Patterns

Transactional –

opportunity and

validation

Lifetime Value

Persistency

High Value

Customers - Products

Summary, Reporting,

Forecast, Optimization

• Collection Analytics

• Marketing Activities

• Cross-sell

• Customer retention

• Direct marketing

• Portfolio, product or economy-level prediction

• Analytical customer relationship management (CRM)

• Risk Management

• Fraud detection

• Underwriting

• Pricing

• Disease Prevention and Management

• Clinical decision support systems

Most Common Uses of Predictive Analytics

•Successful predictive analytics projects are a driving force, the movement to customer‐oriented and actual‐needs focused organizations is accelerating.

•One Forrester study concluded, "Predictive Analytics Brings Fresh Momentum“

Why Predictive Analytics changes the game?

Predictive Analytics is the GPS of a Business Intelligence system because it provides the greatest business value by making forward-looking decisions possible

How has Business Intelligence evolved?

Source: The Data Warehouse Institute (TDWI)

How is Predictive Analytics used?

Where is there

opportunity for me to

expand?

What factors are causing my

customers to churn?

If I sell items in bundles will my

overall sales increase?

Which segments should I target?

Can I reduce advertising costs by

20% without impacting sales?What channel is most

effective to reach certain

customers?When should I contact

customers and what

message to get them to

stay?

What products and

combinations do people

want?

Addressing the Business Problems and Special Requests

Question

• Does the severity of the cold season have a big impact on sales?

Findings and Results:

• A longer and stronger cold season drives

sales and by targeting areas hardest hit you

could increase revenue by 20%

• 28.9% in this instance and less over

spending on advertising in non-peak

periods

CASE STUDY – Operational Optimization

Top World-Wide Truck Manufacturer

World Bank / 9

Challenge:• Issues sharing product and warranty information between

the three major brands

• Not able to anticipate breakdowns and incidents as far upstream as possible, to ensure the maximum availability of the customers’ fleets.

Solution:• Developed Robust Field Based Analytics tool and engine

to monitor and track potential breakdowns

• Developed Predictive models to predict when issues are most likely to occur and automatically send warnings and alert suppliers of part needs

Result:• Anticipation of potential incidents (and appropriate

responses).

• Avoidance of unplanned customer downtime.

• A comprehensive analysis of all customer events.

• Remote diagnostics.

• Time savings with automated reporting.

Solutions:

Auto-Replenishment

Field Based Analytics

Maintenance Forecast

Tracking Dashboards

Profit in business comes from repeat customers, customers that boast about your project, product or service, and that bring friends with them.

• W. Edwards Deming

•Providing customers with an easy experience especially on the web is essential to getting people to use your site and keep coming back

What does this mean?

Predictive Analytics / 11

•Content targeting is arguably the coolest thing no one is truly doing.

•In our research, we found that while content targeting is high on the list of marketers and web developers, there are very few that are really doing it well.

How do we enhance that Customer Experience?

Predictive Analytics / 12

Why is Strategic Content Targeting BetterThan Generic Content?

It is Customer – Centric !!!•Customers get the content they need and that drives more actions •Customers get a “Better” user experience •Customers get more trusted content•Most customer satisfaction and repeat use

Audience Targeting and Segmentation

Liferay Audience Targeting•New Liferay Audience Targeting Platform

•Display the right content at the right time to your visitors

•Make authentic connections

• Tailor specific content for audiences based on user behavior

on the site, age, gender, social media attributes

Audience Segmentation and Recommendation• Audience Targeting effectiveness relies upon accurate, clearly

defined audience segments, in addition to understanding what

content is compelling to each segment

• Dunn Solutions helps accurately define your audience segments

through predictive analysis added to your data and then machine

learns content

Liferay Audience Targeting

The Audience Targeting App adds an Audience

Targeting section to the Configuration section of

the Site Administration area of the Control Panel

and an Audience Targeting Simulator to the

Dockbar. The following three applications are also

included with the Audience Targeting app:

• User Segment Content Display

• User Segment Content List

• Campaign Content Display

Strategic Segmentation Made Simple

•Learn and then machine learn the user needs and wants by what they tell us and then based on what they look at and read

•Then provide them with unique content based on segmentation and unique groups

Segmentation and Recommendation

Presents a unique user experience based on: • Survey Results• Attitudes• Geo-demographics• Specific Features and Patterns • Product Attributes and Plan Design

Segmentation and Recommendation

Then Machine Learning based on:• Types of Content Reviewed• Item Search• Content History• Page Tags• Article Tags• Content Tags• Random Helpful Articles

CASE STUDY

Online Gift Retailer

Solutions

Market Basket Analysis

Predictive Recommendation Engine – Content Targeting

Content TargetingCustomized content based on filter criteria

Next Time:

The machine learns what you looked at, bought,

how you shopped and who you shopped for

and then builds a persona for your shopping

experience and uses a recommendation engine

with java snipits to serve up content and

recommendations

• The Pharmacy has invested heavily in

partnerships with Health Markets, Vitals, Doctors

on Demand, Nurses and Pharmacy just to name a

few to develop a help drive business for pharma

and sales of healthcare related products.

• It is imperative that the potential customers are

segmented and targeted with their own custom

needs and tailored towards their attitudes

• Objective: Automate the optimal offerings

through attitudinal segmentation, content

targeting, patient education, fitness device

integration and working with health insurance

companies and hospital networks

Customer Targeting for Pharma and Healthcare Customers Engagement: Background

What is it?

Customer Targeting for Pharma and Healthcare is a proven technique for identifying optimal customers and messaging for health care and pharma related deals

What are the key benefits?

Develop a more robust and targeted Customer-centric experience

Identifies customer product and service needs by tracking behavior and putting them into the correct attitudinal segments

Incorporates well with the xyz.com persona segmenting based on rewards and sweepstakes

Incorporates customer/patient information and activities to help drive personalized content and tailored offers

Customer Targeting for Pharma and Healthcare Customers Engagement: Project

Jeff, 35

District Sales Manager

Des Moines, Iowa

Example: Content Targeting In Action For Health Insurance and Hospital Networks

Predictive Analytics/ 24

Doesn’t believe

doctors or health

insurance companies

every really answer

questions or truly

solve problems

I like to research

information about

my diseases or

illnesses

Thank you

Joseph Brandenburg

Predictive Analytics Practice Leader · Dunn Solutions