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Predictive analytics "a defining trend in B2B marketing"
The growth of predictive analytics is one trend that is set to have a significant impact on the B2B marketing sector in the near future, according to experts.
Predictive analytics involves the use of statistical tools and modelling techniques to make predictions about future opportunities and risks in certain markets.
It employs methods including machine learning, data mining and business intelligence tools. Intense Research this week published a report stating that techniques such as these are "essential" for companies that want to gain an edge over their competitors.
Earlier this year, predictive marketing platform Radius published the results of a study conducted in collaboration with Demand Metric Analyst Research which showed that predictive analytics was starting to stimulate revenue growth.
The report highlighted some of the most important objectives for B2B marketers, which included improving the demand generation and sales processes, identifying new leads in existing segments and finding new segments to pursue.
Only three out of ten study participants (30 per cent) said their B2B demand generation process met their objectives effectively. When predictive analytics were applied, this proportion increased to nearly six out of ten (55 per cent).
In a recent interview with The Drum, John Hurley, director of product marketing at Radius, described predictive analytics as "one of the defining, hot trends" of recent times for the B2B sector.
He added: "Buyers are far more self-educated now and many marketers' roles have changed, particularly in the last five to ten years. They have had to go from 'Mad Men' to 'Math Men'."
The use of this practice for marketing purposes is expected to grow considerably in the near future, with 36 per cent of high-growth companies set to invest in it over the next 12 months.
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