Post By Janet Arvia
It’s no secret mobile apps drive media consumption in the U.S. today. Smartphone and tablet users spend seven out of every eight minutes addressing products and services on their devices and 90% of their online time is spent within mobile applications. That’s according to a comScore research study which reveals more than one-third of digital consumers download at least one application per month, with the average smartphone user downloading 36 apps a year.
As industry forecasts anticipate the global eCommerce market will expand at a CAGR (compound annual growth rate) of 17%, the $1.3 trillion generated by consumers via mobile devices in 2014 is likely to boom into a whopping $2.5 trillion by the end of 2018. Such stats spell action for proactive businesses looking to find, acquire, engage and monetize mobile app consumers of the future.
Today’s Predictive Analytics
At present, well-informed marketers rely on predictive analytics to make the most of customer engagement per the least amount of company risk. Perhaps that’s why the research firm Gartner speculates 70% of the world’s most profitable businesses will apply real-time predictive technology by the end of this year.
Predictive analytics systems can optimize consumption by examining customer activity and brand reputation, the competition, inventory goals, past prices and costs as well as current and anticipated margins. Advanced predictive models can also leverage data science algorithms to project consumer demand. Plus, nearly all of the insights gained from predictive analytics are considered before creating company eCommerce campaigns.
Future Success Starts Now
There’s no time like the present to examine online consumer patterns since there’s no shortage of digital data to collect. However, it takes a predictive analytics expert to filter through the abundant information to reveal relevant facts that translate into sound strategies with robust ROI. To obtain savvy analytical insights into your company’s past, present and future, contact firstname.lastname@example.org today.