What you can already do with data enhancement is pretty amazing. With AI-assisted data enrichment, you’re able to learn more about your leads, serve your customers’ needs better, and customize your content to wrap prospects in a comfortably personalized user experience. Yet for all its uses, data enhancement has plenty of room to grow. Here’s a sneak peek at what you and your MARKETING AI® will be doing with data a few years from now.
The power of predictive analytics is here today, but tomorrow’s data-driven predictive capacity will be far greater. Current models of predictive analytics generally fall into one of three categories:
- Segmentation – With algorithms that select target groups based on variables you choose, such as demographic or firmographic details, your marketing AI can categorize leads into market segments. Also called cluster modeling, effective segmentation is essential to accurate predictions, and future refinements will allow you to incorporate a wider range of data.
- Prediction – Once you have market segments clustered, you can develop accurate behavioral models based on historical data. Predictive lifetime value, engagement modeling, unsubscribe risk, and lead scoring are some key analytics to watch now and in the future.
- Recommendation – After learning who leads are and what they might like, you can then predict what they might want next. Up-selling, cross-selling, and next-selling are heavily reliant on predictive recommendation models.
The Internet of Things
Where does the data used for data enhancement come from? Today data flows in from a wide range of sources, but it’s just a trickle compared to the torrent data scientists predict as the “Internet of Things” becomes a more established fact of life. The IoT refers to the real-world web of devices that integrate seamlessly with the virtual world, and you’re already familiar with many of them. Your car, for example, can deliver real-time GPS data so a repair service can find you if the car breaks down. Copiers not only let you know they’re out of toner, but also prepare an order for replacement cartridges.
In the B2B marketing arena, having access to information flowing in from the items surrounding personnel in the workplace is the next wave of data enhancement. With marketing AI technology in place, you will be ready for it and can correlate that incoming information with contact, demographic, and firmographic data you’ve amassed from self-entry and data enrichment services to create a detailed map of where your leads are likely to need you most in their buying journeys. An up to date data management playbook can help you prepare for this information-rich future today.
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