Big companies know big data, and they’re dominating in their use of it. With millions of active users each month, online industry powerhouses such as Amazon, Twitter, and Netflix have determined some pretty brilliant ways to use analytics to predict consumer’s needs, behaviors, and attitudes — and keep them coming back for more. With highly effective systems in place to identify individual preferences, companies do their best to determine which marketing strategies will enable them to reach the most customers.
Amazon is one of the earliest adopters of predictive analytics, using data to identify users’ purchasing patterns and suggest products based on peoples’ previous preferences. Each user, of the more than 89 million currently registered on Amazon.com, receives customized recommendations based on previously rated items, including new products or items still in their virtual shopping carts. The aim is to make every interaction feel individualized and human, like you’re wandering through a store, thus earning clients’ trust and loyalty.
Netflix, OKCupid, Pandora, and Twitter are some of the biggest players now also using predictive analytics to retain customers. The infographic below, presented by Lattice Engines, shows exactly how they do it: