Louis Columbus wrote an interesting article on Forbes about many insights on Predictive Analytics and its influence on B2B business performance. The different aspect that he mentioned and that I want to elaborate today are excerpts of a study with Forrester Consulting. They wanted to gain additional insights into the adoption of predictive marketing analytics in B2B companies. The ways predictive analytics helps in terms of organizational performance, focusing on the correlation between predictive marketing and better business results and metrics are examined in the abovementioned study.
As already mentioned above, there are several key take-aways that one can take from the study. In the following, I want to illustrate them to you and tell you what my opinion on these several points is.
- 89% of marketers have predictive analytics on their roadmap for 2016. Also, 49% of marketers are using predictive analytics today and 40% plan to implement analytics in the next 12 months.
I have no doubt that this hypothesis will be verified at the end of 2016. Predictive Analytics made such an impact in the last few years, it is only a matter of time until it will be from utter importance to almost everyone. It is a wonderful thing to witness and it makes me happy to know that Dastani Consulting is a part of it with concepts like customer value prediction, targetgroup predict and location based sales services.
- 78% of marketers see their prospects’ buying journeys becoming more complex and nonlinear. 80% of survey respondents agreed that buyers are increasingly going online to educate themselves about products and services.
Customers educating themselves is the best thing that could happen to the analytics market. Educated customers make it easier to consult in several points, because they are almost always sure what they expect from us. Due to their, often, extensive research, they make it interesting for the analyst.
- Marketers most often face the two challenges of ensuring data quality and managing data from a variety of sources (both 47%) in attempting to gain greater insights about customers and prospects. Interestingly, only 36% face the challenge of managing the velocity of data generation, one of the foundational elements of big data definitions industry-wide by Gartner and other research firms.
I feel like this graph perfectly depicts the problem mentioned above.
All in all, no one can tell if Predictive Analytics and B2B will really fit together. Time will tell. For us it is a match made in heaven and we certainly hope to hear more about it.
We will keep you updated!