What Customer-Centric Predictive Analytics Looks Like

Who wouldn’t want a crystal ball, that knew customer’s intentions before they knew themselves?  The idea of using predictive analytics to understand and influence customer behavior has tantalized retail and hospitality industries.  It’s not a new idea. Retailers, communication service providers, transportation and hospitality industries have used many predictive models to understand consumer behavior in the past. However, with changes in business models and consumer behavior, the predictive patterns change too.  On the one hand cloud, social and mobile have changed how consumers interact with businesses. On the other side technologies like Internet of Things, location, GPS and big data offered newer possibilities to learn more about the customer. Traditional Predictive Analytics Use Cases Some typical use cases for predictive analytics emerged over the years: Predicting purchase  This involves monitoring…

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