Critical Thinking Predictive analysis relies on a significant understanding of consumer behavior and the likelihood of future
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Critical Thinking Predictive analysis relies on a significant understanding of consumer behavior and the likelihood of future purchases based on previous purchases and information searches. The goal of analysis is to predict an upcoming purchase by a consumer in order to deliver suitable marketing communication messages and offers at the right time.
With regard to different types of products, in which product categories do you think predictive analysis would be the most effective? As we need to rely on extensive consumer purchasing behavior, a good degree of analysis, and some form of automated marketing communications system, do you think that the use of predictive analysis is only suitable for more expensive products that have the ability to generate a better return on marketing investment?
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