Putting The Power of Your Data to Work
Analytics is the heart of insights. From the origins of The Matters Group as Confluence Digital over a decade ago we were founded on the premise that data holds insights and when properly leveraged, is fundamental to achieving the results you seek. The emergence of artificial intelligence and sub-disciplines of machine learning (ML), deep learning (DL), and natural language processing (NLP) are enabling insights with the potential to change the trajectory of companies. We’ve embraced these emerging technologies with the intent of uncovering insights that lead to increased ROI for clients in real-world implementations, not theories.
So What Is Advanced Analytics?
The term Advanced Analytics is simply an umbrella term that encompasses areas of data analysis and emerging techniques and technologies such as; artificial intelligence, predictive analytics, data visualization, big data, multivariate statistics, sentiment analysis, network/cluster analysis, regression modeling, and a bunch of other terms you likely avoided in college.
Here’s the short answer: advanced analytics is the use of statistical analysis to uncover patterns in data and translate the findings into actionable insights.
Your firm likely has business and financial analysts on staff. These roles can often form the start of an Analytics or Data Science team, but they may not be experienced in deploying complex models into practice. That’s where the Matters Group can assist.
What Can Advanced Analytics Do for Me?
Our ability to cost-effectively deploy implementable analytical models is enabling breakthrough insights for our clients. Some of the challenges we’re able to develop solutions for include:
- Predictive analytics for customer behavior, audience targeting, recommendation engines, and more
- Media campaign optimization and assessing long term impact of messaging on consumer brands preference
- Micro-segmentation of consumers to deliver personalized experiences based upon their digital behavior
- Campaign creative recommendations to assist Creative Directors in developing ideas and creative campaign themes
- Product/service development matched to customer needs and profitability targets
- Precise real-time analytics based on customer behaviors and operational data
The list above is just a basic list of potential ways AI can be applied to marketing challenges. The bottom line is AI-powered analytics provides a level of insight and precision previously unattainable with traditional business intelligence (BI) tools. While AI may not be applicable to every number crunching challenge today, analytical skills and maturity in the organization are a key factor that differentiates leading firms from laggards.
Latent Effects Modeling
Our team of collaborators has pushed the analytical envelope for many clients over the years. However, the average company is now creating more data in a week than they previously would in a year. This massive increase in available data means two things: first there’s a lot to learn that is not immediately evident in the data and it is beyond human ability to fully assess the impact with spreadsheets. These data sets require the application of advanced algorithms and AI technologies to uncover the impacts on a business.
That’s why our team has gone “back to the future” with a mathematical technique called - Latent Effects Modeling. This approach leverages unobservable variables to predict insights like sales trends, which of your campaigns creates the most long-term positive brand associations, and which subset of your potential customers are most likely to react to a given message on a specific platform over a given timeframe. These very precise insights allow you to develop strategies to capitalize on market conditions before their full impact is widely known. In essence, Latent Effects Modeling is able to tell you what you need to be worried about today and plan for before your competitors even know what’s happening.