Adobe Unleashes Predictive Analytics on Big Data Complexity
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.
Adobe runs massively parallel software-as-a-service (SaaS) offerings through approximately 23,500 servers and networked devices in 19 data center co-location sites, Rencher said. Adobe captures more than 6 trillion transactions per year for its 5,000-plus digital marketing customers. Collectively, these transactions represent more than 27 petabytes of data.
Rencher likes to note that although the data is getting bigger, the details that matter are getting smaller. Adobe is poised to help customers get directly to those details, he said.
Historically all web analytics have reflected data from the past, which has been to a certain extent like driving a car using only the rear view mirror, said Ken Seiff, executive vice president of Direct and Omni Channel for Brooks Brothers, in a statement. The new predictive marketing capabilities from Adobe are helping us forecast revenue and identify the most powerful levers our team can pull to have the most likely positive effect on the sites revenue. These new capabilities are both simple and fast, and for the first time we can be marketers using data in a manner that allows us to drive while facing the road ahead.
Adobes predictive marketing capabilities enable marketers to improve a variety of digital marketing strategies, including personalized engagement, multichannel campaign execution and media monetization.
Specifically, with the new capabilities Adobe says digital marketers can:
¢ 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.
Customers interested in these predictive marketing capabilities can contact an Adobe account manager, Adobe said. Meanwhile, Virtual analyst is in development and expected to be available later this year. All other capabilities are currently available.
The Adobe Digital Marketing Suite offers an integrated and open platform for online business optimization, a strategy for using customer insight to drive innovation throughout the business and enhance marketing efficiency.