Companies have been hoarding too much data on consumer demographics. There is an over reliance on demographic data for consumer insights and business decisions. Luckily, a select group of companies are quickly realizing that with the advent of predictive analytics, anonymous and behavioral data can shed more insight and return higher conversions. They’re finding that it’s behavior which best predicts customer intent, and not age, gender, or location.
A single, anonymous visit to a website can provide sufficient insight about the entity in order to identify, segment and predict their propensity for a particular outcome. Entities exhibit tendencies and behaviors of intent, regardless of their age or where they come from. In much the same way that you can catch a thief based on their past behavior, you can also “catch” an intent by analyzing past behavior.
Algorithmic modeling can capture behavioral data and treat each data point like a unique thumbprint, representing the unique sum of all outcomes carried out by that one entity across time. This kind of model is not only precise, but it also gets better with time. The more behaviors that get mapped against intent, the more accurately the model can identify the propensity for intent and outcomes, and deliver the next best offer at the appropriate time.
So embrace your anonymous data. It’s worth so much more now than ever before. If that’s not spinning anonymous trash into golden data, I don’t know what is.