Adobe Unleashes Predictive Analytics on Big Data Complexity
Adobe adds new predictive analytics capabilities to its Adobe Digital marketing Suite to help customers wrangle big data.SALT LAKE CITYAdobe Systems (Nasdaq:ADBE) today announced new predictive marketing capabilities in its Adobe Digital Marketing Suite, reducing the complexity of uncovering hidden behavioral patterns in big data. Announced at the Adobe Digital Marketing Summit here, these advancements will help marketers more quickly sort through an increasing amount of data to find the most impactful insights as well as leverage vast amounts of historical data to predict future results, said Brad Rencher, senior vice president and general manager of the Digital Marketing Business at Adobe. Adobe is putting predictive analytics and more intelligent, forward-looking decision-making into the hands of digital marketers.
In the early days of digital marketing, analytics emerged to tell us what happened and, as analytics got better, why it happened, Rencher said in a statement. Then solutions emerged to make it easier to act on data and optimize results. But the sheer amount of available data presents a challenge to quickly extract insights and act while those insights are still valuable. The new predictive capabilities within the Digital Marketing Suite address these challenges and help marketers turn big data into a big opportunity.
¢ Change key metrics in various what-if scenarios to see how those changes will potentially impact business outcomes, such as orders and revenue. ¢ Forecast campaign results across search, social and display, and develop optimized media mix models, generating higher returns on multichannel advertising initiatives. ¢ Identify leading indicators that point to upcoming risks and anomalies and adjust marketing strategies before a problem occurs or to take advantage of an opportunity. ¢ Identify interactions (leaving a comment, reviewing a product, etc.) with the highest probability to convert. ¢ Move from testing content to prescribing content based on what the predictive model predicts will be best.Moreover, Adobe officials said the predictive marketing capabilities of the Adobe Digital Marketing Suite are now delivered through the following products and services:
- The virtual analyst, the predictive modeling engine for the Adobe Digital Marketing Suite, intelligently identifies metrics with anomalies that need further review, forecasts those metrics for up to three weeks and performs a correlation analysis to find other metrics that contributed to the anomaly.
- The advanced algorithms from the acquisition of Efficient Frontier are used to forecast campaign results and develop optimized media mix models, which may be leveraged to generate higher returns on multichannel advertising initiatives.
- A predictive marketing dashboard allows marketers to change key metrics in various what-if scenarios to see how those changes will potentially impact business outcomes, such as orders and revenue.