Thérèse Mulvey
Analysis, Predictive Modeling, Prescriptive Analytics
February 16, 2024
Marketers understand the ability to access and interpret consumer data can make all the difference in the success of their campaigns. That’s the reason savvy brands and advertisers are partnering with data scientists in their organizations or hiring data consultants.
Harnessing predictive modeling and prescriptive analytics have proven to be especially meaningful for making business decisions.
Predictive modeling leverages data, historical statistics and up-to-date information to peer into a future scenario. At Causeway Solutions, we apply advanced analytics to the predictive model scores to create customized, highly targeted universes of customers.
Prescriptive analytics uses AI, machine learning and algorithms to provide insights on the “what” and “why” of a potential future outcome. Our team uses prescriptive analytics to develop detailed marketing plans based on goals and budget using strategic consumer universes.
Each project begins with an understanding of the client’s goals and target audiences. The target datapoints are combined with key demographic and lifestyle behaviors and fed into our proprietary machine learning algorithms to produce statistical models for predicting an individual’s likelihood to match that datapoint. This can be anything from the likelihood of someone having a favorable opinion of a specific brand to the likelihood to regularly visit a primary care doctor.
These predictive scores can be used individually or combined with other scores and characteristics to create targeted universes.
Models allow a greater understanding of the motivations of the entire consumer base beyond demographics and information from traditional survey research. Modeling can provide very targeted audiences and understand what motivates consumer action.
While surveys show what percentage of the population said yes and what percentage of the population said no to a specific question, models provide scoring. Scoring shows a person’s attitude, belief and the likelihood of being persuaded to change or take a specific action.
Our predictive and prescriptive modeling helps marketers appeal to both logic and emotions—persuading prospects to take an action. We also offer guidance with reminders about how to get an audience or individual to “turnout” or take the desired action. Our data consulting service increases the effectiveness of marketing campaigns, while reducing wasted advertising dollars.
To learn more about predictive modeling and prescriptive analytics, please reach out and request a complimentary discovery session.
Thérèse Mulvey is Vice President of Strategy & Insight at Causeway Solutions, a leading provider of Acquisition Analytics and innovative data services. Thérèse has worked in media, including television, newspaper, direct mail and digital, where she successfully translated consumer data into insights that address key business issues. She has over two decades of success driving profit, growth and market expansion through the strategic optimization of marketing analytics, research and business development. Causeway Solutions empowers clients to make smart, timely, data-driven decisions through real-time consumer insights to better reach target audiences. Learn more at CausewaySolutions.com.
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