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4 weeks ago
Wise Practitioner – Predictive Analytics Interview Series: Chris Robison & Michael Finger at Overstock.com

 

By: Eric Siegel, Founder, Predictive Analytics World for Business

In anticipation of their upcoming conference presentation at Predictive Analytics World for Business Las Vegas, June 16-20, 2019, we asked Chris Robison, Director of Data and Audience and Michael Finger, Software Architect, Marketing at Overstock.com, a few questions about their deployment of predictive analytics. Catch a glimpse of their presentation, Data Engineering and Data Science Working in Unison to Drive Marketing Intelligence at Scale, and see what’s in store at the PAW Business conference in Las Vegas.

Q: In your work with predictive analytics, what behavior or outcome do your models predict?

A: 
We are focused on the customer and where they are currently on their purchasing journey. We want to ensure that those consumers have a good and relevant experience in the various channels that they view our brand. We look at content, messaging, channel, and a variety of other marketing aspects to help us build models for our customers. Ouraim is to drive increased conversion on Overstock.com and micro-conversions throughout the marketing funnel.

Q: How does predictive analytics deliver value at your organization – what is one specific way in which it actively drives decisions or operations?

A:  Customers are in different areas of the purchasing journey, from the inspirational phase to the actual ready-to-buy phase and we want to help them find what they are looking for quickly. By understanding the customer, we can better market to them, building models that create a more valuable experience for the customer and a more efficient process for the company, forecasting performance, optimize marketing cost, and improving the marketing mix.

Q: Can you describe a quantitative result, such as the predictive lift of your model or the ROI of an analytics initiative?

A: We have found that by using predictive analytics we have seen increased efficiencies in terms of incremental returns on ad spend across all major channels including, Google paid search, PLA, email, and display.

Q: What surprising discovery or insight have you unearthed in your data?

A: E-commerce is a fascinating fast-moving industry that has seen tremendous growth. We always have to be at the top of our game in order to stay ahead and find new avenues to generate efficiencies. Through some of our exploratory analysis we were able to find a new demographic that we have previously overlooked, and that is part of the game. We need to have an innovative mindset and continually test, iterate, and deploy models that reveal new insights. 

Q: Sneak preview: Please tell us a take-away that you will provide during your talk at Predictive Analytics World.

A: The architecture that is needed to build a successful and scalable team that brings synergies between Data Engineering and Data Science.

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Don’t miss their presentation, Data Engineering and Data Science Working in Unison to Drive Marketing Intelligence at Scale, at PAW Business on Tuesday, June 18, 2019 from 3:55 to 4:35 PM. Click here to register for attendance.

By: Eric Siegel, Founder, Predictive Analytics World for Business

 

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