How to Use Free Predictive Analytics Tools to Maximize Your Marketing Campaign
Free Predictive Analytics Tools
There is so much opportunity with predictive analytics that it can be overwhelming. How do you know where to begin? Which tools are right for you and your company? What will give you the biggest return on investment of your time and resources? Unfortunately, many people think of predictive analytics as this scary black box that gobbles up data and spits out predictions.
In reality, there are many different types of predictive analytics tools available, from simple statistical algorithms to more advanced artificial intelligence methods such as collaborative filtering and neural networks. Even though most of us have grown accustomed to free services for just about everything, the same goes for predictive analytics software.
There aren’t a lot of paid options available when it comes to these tools. However, there are several free options available if you know where to look. Let’s take a closer look at some great free predictive analytics tools that you can use today in your own marketing campaign.
What is Predictive Analytics?
Predictive analytics is the process of extracting information from a large data set and then using that information to forecast future results or trends. Predictive analytics is used in a variety of industries, including marketing, finance, operations, and more.
As businesses become more data-driven, the use of predictive analytics becomes increasingly important. This is especially true in marketing, where predictive analytics can help businesses understand customers and their needs by looking at the data they generate from their digital channels. And with advancements in machine learning, the potential of predictive analytics is endless.
Importance of Predictive Analytics
Because predictive analytics can help organizations understand customers better and make more informed marketing decisions, it’s crucial for every business. Even if you don’t think your company needs it, you’d be surprised at how much impact it can have on the bottom line.
Most businesses only have a vague idea of who their customers are and what they want. Predictive analytics can help marketers identify potential customers, understand their behavior, and make more effective marketing decisions. The more insight marketers have, the better they can serve their customers. This can lead to increased customer satisfaction and retention, which equates to higher profits for businesses.
Tools to Help with Predictive Analysis
Let’s take a look at some of the most popular tools that can help with predictive analysis and marketing. Be sure to check out each one to see what features they offer. Some are free while others offer a freemium or paid model.
- Google Analytics – Google Analytics is the king of free analytics tools. It has a host of features and customizations to help you get the most out of your data. For marketers, it can track which marketing campaigns are generating the most conversions and give you valuable insight into your customers.
- Google Search Console – This free tool from Google can help you analyze your website’s search engine optimization. You can also optimize your site to ensure it is appearing in the right search engine results pages (SERPs). The Search Console also allows you to monitor your site’s traffic and track your most valuable keywords.
- Facebook Analytics – If you’re marketing on Facebook, you’ll want to track your ads and posts with this free tool. You can also use Facebook Analytics to identify your core audience and discover new potential customers.
- Brand24 – Brand24 helps you monitor online mentions of your brand, website, products, and competitors. You can use this free tool to identify your most influential brand advocates and find new ways to engage with your customers.
- Social Mentions – Social Mentions is a free Google Chrome extension that allows you to track any mention of your brand, website, or products across the major social media sites. This can help you discover customer service issues, new marketing opportunities, and more.
- HubSpot’s Growth Scorecard – This free tool from HubSpot allows you to track the key metrics of your business, such as conversion rates, customer retention rate, and customer acquisition cost. You can use this information to make better marketing decisions and increase your business growth.
- Sprout Social – Sprout Social is a freemium social media management tool that is ideal for marketing teams. It allows you to keep track of all of your social media accounts and provides useful analytics, such as which posts are getting the most engagement.
- Branding Analysis – If you want to delve deeper into your customers and find out exactly who they are, you could use a branding analysis. This qualitative research tool allows you to interview your customers and get to know them better. You can then use this information to create better marketing content and products.
AI Based Tools
Since predictive analytics is such a broad field, there are a number of AI-based tools that focus entirely on predictive analytics. These tools can help marketers better understand customers and make better marketing decisions based on the data they generate.
- Salesforce Einstein – Einstein is Salesforce’s AI-based predictive analytics tool designed for sales teams. It can help salespeople identify new opportunities and make more effective sales pitches by analyzing data and customer preferences. Einstein can also be used to analyze marketing campaigns to see which are generating the most conversions.
- IBM Watson Explorer – Watson Explorer is another AI-based predictive analytics tool that can help marketers make better decisions based on data. It is powered by artificial intelligence and can be used to analyze customer feedback, find insights in unstructured data, and provide recommendations.
- Google Cloud Platform – Google Cloud Platform features a number of AI-based predictive analytics tools that can help marketers make better decisions. There’s a tool made for just about any industry you can think of, including marketing. These tools allow you to analyze data, build models, and create visual representations of your findings.
Statistical Tool Options
If you’re looking for something a little less flashy, there are plenty of statistical tools that focus on data visualization and analysis. These tools can help marketers better understand their customers and make more informed marketing decisions.
- Excel – Excel is a powerful tool that most marketers are already familiar with. It can help you analyze data from a variety of sources and create visualizations that enable better decision-making. If you have Microsoft Office, you’re already using Excel.
- SPSS – SPSS is a powerful statistical tool that is often used in academic research. It can help you analyze your data and make better marketing decisions based on those findings. SPSS is used in a variety of industries, including marketing.
- Tableau – Tableau is another powerful data visualization tool that is often used by marketers. It allows you to create interactive dashboards that let you explore your data and make better decisions. You can also publish your data visualizations in a public website or share it with your team members.
Predictive analytics is the key to future-proofing your business and providing an exceptional experience to your customers. These tools can help you better understand your customers, track your marketing campaigns, and put the data you collect to good use. These tools are easy to use and don’t require a lot of training.
They can be helpful for marketers, analysts, and anyone who is involved in the decision-making process. This goes for large corporations and small businesses. Predictive analytics can help everyone better understand their customers and improve their marketing efforts.