The development and application of predictive analytics solutions for organizations is not new, particularly in the area of consumer behavior. Models have been built since the end of the Second World War to predict consumer behavior with the first models being used to predict credit card loss. Direct marketers embraced these same principles and many organizations today now have a variety of predictive analytics tools which can do the following: Acquisition of new customers Upsell/cross-sell of existing customers Defection Models Risk Models Fraud Models Recommendation engines and next best offer With all the discussion raging around AI (i.e.,
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