New Predictive Analytics Tool from SPSS

SPSS has recently released PredictiveMarketing, an automated predictive analytics application that helps marketers improve customer targeting and increase response rates.

SPSS PredictiveMarketing uses sophisticated analytics that automatically sift through volumes of customer data to find revealing patterns. A Web-based interface provides the results in easy-to-understand visual formats that enable marketers to predict which customers will respond, purchase and churn.

The tool is designed to fit seamlessly into marketers' daily activities, enabling them to plan and monitor their own campaigns in new ways. Pre-built, customizable templates help marketers use customer data to anticipate which customers are likely to respond to a particular offer, what they are likely to purchase, when they are likely to leave and other business problems. While the SPSS PredictiveMarketing templates incorporate sophisticated technologies, they are designed to be readily revised for new campaigns and customer analyses. For greater insights and results, SPSS PredictiveMarketing extends traditional approaches, such as recency, frequency and monetary (RFM) analysis, by combining multi-dimensional customer behavior and demographic characteristics.

PredictiveMarketing is a stand-alone application that can effortlessly integrate into organizations' campaign management, sales force automation or CRM systems. Its open, standards-based architecture enables it to be readily customized to work within a company's existing software infrastructure. Additionally, its user interface can be easily modified, either by simplifying it or by adding more complex capabilities, to suit users' analytical skill levels. It can also be used in conjunction with data mining tools, such as SPSS' data mining workbench, Clementine, to give marketers access to data mining results in formats that they can use, without placing additional demands on data miners or analysts.

'Marketers are charged with understanding their customers. Although they are rich in customer data, they are poor in information they can act upon,' said Colin Shearer, vice president of customer analytics at SPSS. 'SPSS PredictiveMarketing puts the power of predictive analytics right into marketers' hands, making it easy and efficient for them to predict which customers are likely to take action, and gain higher returns on their programmes.'

For more information visit www.spss.com/predictivemarketing

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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