Think Customers: The 1to1 Blog

Moore said he's seeing scoring models now being deployed across channels and they're incorporating multiple attributes such as customer customer-transaction history, behavioral data, demographics, and life stage data. Organizations are realizing the critical nature of scoring to identify the best prospects, customize customer communications, and increase conversions. Companies like Netflix and Pandora.com have built successful business models on analytics.

Moore has packaged his experience into "Moore's Laws," a list of practical advice for analytics professionals:

1. Simple always wins over complexity in predictive analytics.

2. Fifty percent of predictive analytics projects never get deployed.

3. Perfect data is an oxymoron.

4. Thirty percent of funded predictive analytics projects never start due to lack of data access.

5. Many models predict well, but predict the wrong things.

Today's marketers and sales professionals feel more pressure than ever to capture a customer's attention and convert them to a profitable customer, but many still fail to integrate analytics into their sales and marketing efforts.

Remember that the companies that benefit most from analytics have a culture of optimization--some sort of process or solution for analyzing and scoring the data, generating recommendations, and most important learning from that, executing internal and external improvements, and then starting the process all over again.