liferay overview of predicitve analytics
TRANSCRIPT
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