Predictive Modelling

Boost marketing performance with the power of prediction

Veda offers bespoke model development for clients to improve campaign effectiveness and return on investment. Models are developed in house using a blend of Veda and client data, and implemented in a number of ways depending on client budget and preferences.

Predictive models increase the client's ability to select customers or prospects who are likely to respond when generating a campaign. By narrowing the pool of prospects to target only those with the greatest likelihood of conversion you can:

• Improve marketing ROI
• Reduce wastage by excluding non-responders from campaigns
• Reduce cost per acquisition
• Minimise negative brand exposure
• Reduce churn rate  
• Increase profitability through effective cross sell and upsell offers
• Grow share of wallet  

 

Create simplicity out of complexity

Although complex in their makeup, predictive models are relatively simple to apply in the field. For clients, once the initial investment is made, a good model provides an extremely cost effective way to optimise return on marketing expenditure.

 

How do you do it?

 A vast number of methodologies can be used to build a model. The methodology chosen wil depend on many factors, including:

• The type of data (consumer/commercial/transactional/behavioural)
• The nature of data (binary/scale/category)
• Amount of historical time series data available
• Volume of data available
• Number of variables provided
• Prevalence of behaviour within the data provided

 

Veda's analysts have the expertise and experience to guide you towards the right model to fit your needs.