FUNDAMENTAL PRINCIPLES OF PREDICTIVE ANALYTICS IN MARKETING

Abstract

INTRODUCTION. This article highlights the fundamental principles of predictive analytics as they apply to marketing, providing the reader with a thorough understanding of the methodologies and techniques used to predict consumer behavior and optimize marketing strategies.

RESEARCH HYPOTHESIS. The article examines the key concepts and approaches underlying predictive analytics, including machine learning, statistical analysis, and forecasting algorithms.

THE AIM of particular attention is paid to the application of these methods in various areas of marketing, such as market segmentation, pricing, product portfolio management, and determining the effectiveness of advertising campaigns.

METHODS. The article examines the ethical and legal aspects of predictive analytics in marketing, emphasizing the importance of responsible use of data and algorithms.

FINDINGS. The final section of the article focuses on the future development of predictive analytics in marketing, discussing new technologies, methods, and approaches that can contribute to improving the accuracy and efficiency of forecasts.

CONCLUSION. The author expresses confidence that the further development and integration of predictive analysis into marketing strategy will contribute to the creation of more targeted and effective marketing campaigns while ensuring sustainable growth and competitiveness of companies in the market.

KEYWORDS: predictive analysis; marketing; pricing; business development; marketing strategies; marketing tactics.