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SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

The Power of a Click

In the dynamic landscape of digital marketing, understanding user behavior is vital for creating impactful campaigns. User clicks provide a wealth of valuable data, and Machine Learning (ML) acts as a powerful tool to interpret and harness this information. By utilizing ML algorithms, digital marketers can analyze click patterns to develop highly targeted strategies, ensuring maximum efficiency and optimal results.

One of the standout applications of ML in digital marketing is its ability to personalize content recommendations. Through predictive modeling, ML can anticipate what a user is likely to engage with next, enabling marketers to deliver tailored suggestions that align with individual preferences. This not only enhances the user experience but also amplifies the effectiveness of marketing initiatives. Tools like Predictive Analytics further refine this process by analyzing past click data to forecast future user behavior, helping businesses target their audiences with precision.

ML also significantly improves ad optimization and audience segmentation. By examining click behavior, it identifies the most effective ads, ensuring they reach the right audience with maximum impact. Additionally, ML can group users with similar interests based on their behavior, allowing marketers to design personalized campaigns. Notable examples include Netflix recommending shows based on viewing history, Amazon suggesting products based on past activity, and Google Ads displaying highly relevant ads. These applications demonstrate how ML is transforming digital marketing into a smarter, more personalized, and highly efficient domain, helping businesses forge stronger connections with their users.

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All About Account Based Marketing Strategies

Predictive modeling drives Account Based Marketing or ABM strategies by identifying the right audiences. With a good ABM strategy, you can personalize your website messaging to individuals once they land on your pages.  Personalization software tracks visitor sources and actions. Then uses behavioral, demographic data to provide personalized experiences according to the visitor's characteristics. Technology won't do everything. Successful ABM strategies depend on proper integration between sales and marketing. For more read: http://customerthink.com/whats-missing-from-your-account-based-marketing-strategy/

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Mars mission and big data analytics.

Mars mission and big data analytics.

NASA is working on big data analytics to facilitate their mission mars more productive and informative. They are using big data analytics to understand the environment of the mars. That is they are using modern technology to collect and analyze environmental data and based on that it will give a predefined signal to the Curiosity rover currently operating in Mars. These data points help to generate a more specific road map for upcoming 2020 mars mission for NASA. One of The expert in NASA JPL laboratory says these huge analytic modelling defines an easier way to resolve the problem. 

To read, follow: http://www.forbes.com/sites/bernardmarr/2016/04/14/amazing-big-data-at-nasa-real-time-analytics-150-million-miles-from-earth/#1cbda1b371dd

 

 

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Insurers are becoming risk managers through predictive modeling

The challenges faced by the insurance industry are same as other companies. Insurance industry involves generating, storing, and making large & complex sets of data to create efficiencies and improving their bottom line. In a recent survey, 54% of 48 U.S. and P/C insurance executives said they use predictive modelling for underwriting/risk selection, and that usage is expected to grow by 40% over the next two years. Predictive modeling helps in claims triage, underwriting appetite and strategy, market-share analysis, and litigation propensity. Predictive analytics can boost companies' profitability by: 1. Developing a clear analytics roadmap across business units. 

2. Monitoring their outputs against what is happening to avoid the situation where underwriters push back on predictive models.

3. Developing an enterprise-wide model monitoring program to ensure models are recent and recalibrated on a consistent basis. 

4. Looking outside the industry to see how other organizations measure ROI.

For more read the article written by Loren Trimble and Michael Kim(Contributors) : http://ww2.cfo.com/risk-management/2016/03/predictive-modeling-can-make-insurers-better-risk-managers/

 

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