The results are in and the evidence is clear. Organizations do not need
a crystal ball to predict better ways to acquire and retain
customers—they need predictive analytics.
In recent research on predictive analytics published by Aberdeen Group,
a Harte-Hanks Company (NYSE:HHS), top performing companies achieved
strong performance gains using predictive analytics and data mining. The
research, Predictive
Analytics: The Right Tool for Tough Times, showed that the top
performing 20% of firms achieved a profit margin of 23% and a customer
retention rate of 93%. In contrast, the other 80% of survey respondents
achieved a profit margin of 13%, and a customer retention rate of only
80%.
“This reports supports what we have observed with our clients,” said
Paul McConville, VP, TARGUSinfo. “Profit margins and lifetime value can
be increased by applying analytics in real-time on interactions with
customers and prospects at all communication channels: forms, phone
calls and display ads.”
“What was striking is that top performers have a much stronger focus on
cross-selling and up-selling opportunities,” said David White, senior
research analyst, Aberdeen Group. “As a strategy, that's a great way to
improve profits as many of the overhead costs associated with sales and
marketing are avoided. That's one reason why leading organizations have
been able to demonstrate higher operating profits, and also show better
increases in profit margins. There’s also a nascent demand for real-time
predictive analytics. A quarter of all survey respondents say that they
need real-time data feeds to drive predictive models, yet only 59% of
them can currently achieve that.”
The Aberdeen Group research highlights the importance of predictive
analytics and what is the sole focus of the first ever Scoring Summit
event taking place May 5-6, 2010 at the Hotel Monteleone in New Orleans,
LA. Hosted by TARGUSinfo, the Scoring Summit is a first-of-its-kind
event bringing together B2C marketing decision makers to discuss best
practices of how to wield real-time scores to attract the right leads,
boost conversion rates and increase customer lifetime value.
Celebrated author of the best-selling book “Super Crunchers,” Ian Ayres,
will deliver the inaugural guest keynote. The two-day agenda will also
feature more than 16 industry speakers from renowned companies
including: LendingTree, Clearwire, BlueKai, Sylvan Learning and from
Forrester Research, Dave Frankland.
“Utilizing predictive analytics in real time is central to our strategy
of optimizing our acquisition and marketing activities,” said Kristen
Schiffner, senior director of internet marketing, Westwood College.
“We’re looking forward to joining the industry discussing best practices
and networking to learn new insights about predictive analytics at the
Scoring Summit.”
For more information about the Scoring Summit, visit: www.TARGUSinfo.com/Scoring,
on Twitter
or on Facebook.
Attendees can save $100 off registration if they register before April
14, 2010.
A complimentary copy of the Aberdeen Group report is made available due
in part by the following underwriters: Portrait Software, TIBCO
Software, and TARGUSinfo. To obtain a complimentary copy of the report,
visit: Aberdeen's
website.
About TARGUSinfo
TARGUSinfo, the trusted provider of On-Demand Insight® to the most
recognized brands, links and delivers more than 62 billion real-time
attributes a year to drive smarter customer interactions on the Web,
over the phone and at the point of sale. For more than a decade, Fortune
500 companies have turned to TARGUSinfo to enable improved audience
targeting, better customer experiences, higher conversion rates and
increased customer lifetime values by using TARGUSinfo identification,
verification, scoring and location solutions. TARGUSinfo offers a
complete range of solutions to help organizations make better decisions
leveraging patented processes built on a proprietary network of hundreds
of data feeds and its unique predictive analytics capabilities. A
profitable and privately held company, TARGUSinfo is headquartered in
Vienna, VA with offices in San Diego, Chicago, San Francisco and New
York. For more information, visit www.TARGUSinfo.com.
TARGUSinfo
Rufus Manning, 703-272-6215
pr@TARGUSinfo.com