Adopt modelling technology to make optimum use of first-party data

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 05, 2021, 5:08 PM GMT+0

With user privacy taking centre stage across the globe, modelling technology can help brands make data-driven predictions about consumer behaviour.

Brands must focus on collecting first-party data that is well within privacy regulations. At the same time, the observed data must also help them make informed decisions on customer behaviour. Using credible modelling technologies, businesses can analyse data, identify correlations between data points and offer marketers insights on consumer behaviour.

Modelling technology will help brands use metrics like daily active users and conversion rates to restore behavioural data. Such information will enable businesses to make data-driven predictions on customer behaviour across platforms and devices.

Conversion modelling uses machine learning to link conversion events such as purchases and sign-ups. Marketers can then use such linkages to observe conversion paths, identify where the conversion came from and allocate resources to the proper channels.

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