Predictive Analytics Will Help Your Business Grow
Everyday your website will be collecting bags of data - information that you’ll probably only ever use a tiny amount of in order to check key performance indicators.
I-COM’s big data experts take all this information and statistically model what is likely to happen to your business, creating a baseline performance forecast that will help you with strategic decision making.
If you’re looking to build an investment business case, or perform due diligence on a revenue forecast, our predictive analytics service will help you understand how likely the projected outcome is.
What’s Involved in Predictive Analytics?
We access Google Analytics application programming interface (API) to collect several years of performance data from your site. We then forecast using an additive model where non-linear trends are fit with yearly, weekly, and daily seasonality, plus holiday effects. This approach works best with time-series data that has strong seasonal effects and several seasons of historical data, with that information to hand we can be fairly sure of our predictions.
The modelling we undertake is robust in handling missing data, shifts in the trend and allows for outliers that might otherwise be misleading.
Once we have a baseline model, we can overlay the impact strategic changes to your business will have on the three key online performance levers: traffic volumes, conversion rates and enquiry value. This allows us to predict online business growth.
What Does it Look Like in Practice?
Perhaps you want to launch a new e-commerce website that has been developed with the objective of improving your current conversion rates - our service will help predict the impact of this launch on your revenues.
You could be considering an acquisition but want to validate the business plan provided by the target company’s management. By using our advanced modelling system, we are able to test assumptions and forecasts, helping you to invest wisely.
If you are looking to understand where your business is heading and what you can do to grow more effectively, then this is the service for you.
How Will I-COM Work With Me?
This service is available as part of our core toolkit during the course of a marketing retainer to help us assess the predicted outcomes of different strategies. However, it is also available as a discrete service for companies looking to test their own ideas.
We will work hand-in-hand with you to understand exactly what you want to achieve and ensure that the piece of work we deliver will be focussed on helping you make the right decision.
The service will conclude with a detailed report that contains easy-to-understand conclusions and next steps. You can choose to receive this electronically or we’ll walk you through our findings and recommendations with a face-to-face discussion.
The predictive analytics service from I-COM will provide you with the confidence to make the right decisions to grow your business.
What Else Can I-COM Do?
I-COM is a full service digital marketing agency. This means we can support every aspect of your marketing needs - from designing and building websites, to creating awesomely-eye-catching content, managing your paid advertising, running strategic PR campaigns or delivering SEO techniques that really work.
Whatever your business needs, we’re at the ready. Let us enhance the good work you already do - or put your feet up and let us take care of your entire digital marketing. Intrigued? Call us on 0161 402 3170 or use the contact form and we'll get right back to you.