Sunday 25 February 2018

Predictive Analytics to drive profitability and reduce costs

SPSS Executive Briefing highlights how organisations are employing Predictive Analytics to drive profitability and reduce costs

The premier event for Predictive Analytics in Ireland gives attendees the opportunity to discover the latest trends and best practices in analytics for successful customer experience, sales and marketing strategies.

The briefing enabled Irish based business to learn from leading organisations’ experience of how to leverage Predictive Analytics and gain real ROI.

Predictive Analytics consists of using existing data to enable organisations to predict future events so they can proactively drive better business outcomes.

Today, leading organisations are using Predictive Analytics to integrate data analysis to the entire marketing process to better align with their most valuable customers and gain deep understanding of client behaviour.

As a result, these organisations have seen significant improvements in their marketing campaigns and overall business performance.

For example, O2 Ireland increased its return on investment on marketing campaigns in a matter of months. Bank of Ireland was able to reduce the time spent with text analysis by 80% and was able to shift the vision from data analysis to actionable insights that helped them to better understand their customers.

Other organisations registered higher responses rates on marketing campaigns of 50% or more. Some achieved 25-40% cost reductions on cross-channel marketing efforts and other increased their profits from 15% to 30%.

The event was held in Hilton Kilmainham Hotel today and attendees learned from the experience of Rory O’Hanlon,O2 Ireland; Stephen Moran, Bank Of Ireland; and Alastair White, former Director at Royal & Sun Alliance (UK).

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