Predictive Analytics World Conference

Predictive Analytics World Conference

Instead of relying on the typical gut-feel, basic descriptive plots in Excel, or Google Analytics and Google Adwords descriptive analytics, iProspect Greece set out on a project to develop a rigorous predictive/prescriptive analytics solution utilizing traditional statistical techniques, including Regression analysis with automatic model selection based on the quality of fit and ANOVA (Analysis of variance with multiple comparisons and post-hoc hypothesis testing) as well as novel approaches including non-parametric, non-linear regression analysis using machine learning algorithms, all implemented in Python and R. The implemented analytics solution, although at its early stages, has already delivered a series of benefits, including an increase in the accuracy of KPI prediction between 40% and 80% for certain cases, huge reductions in the time required to analyse a campaign – from days to hours per analyst, an almost immediate response time to a client wanting to understand how their digital campaigns are performing and why. A pilot study for Allianz Direct achieved a 90% predictive accuracy on Google Adwords campaigns, driving conversions and subsequently finetuning their marketing strategy and budget, increasing ROI by 25%. In this session Michael Georgakopoulos will present how the implemented solution has since been applied across multiple major accounts in Insurance, FMCGs and Retail.


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