Marketing is one of the pioneering domains when it comes to applications of predictive analytics to Big Data.
Marketing is one of the pioneering domains when it comes to applications of predictive analytics to Big Data. (For example, how Target used statistical modeling to predict demographic attribues of customers, like pregnancy, to target coupons.) To get such powerful insights into the hands of marketers, DC-area company LityxIQ provides a cloud-based solution: LityxIQ, “an integrated hosted analytics platform for marketing insights, predictive models, and marketing optimization”.
LityxIQ allows marketers to automate the loading and managing multiple data sources, automatically build and manage predictive models, and optimize marketing budget and media decisions. The R language is used to implement those models behind the scenes, making use of its predictive algorithms and for its powerful variable selection capabilities. I asked Lityx CEO Paul Maiste why he chose R to implement these models instead of other statistical software packages. “We used R in developing the platform in order to take advantage of the flexibility of the language and wealth of supported algorithm”, he said. “In addition, it allows us to fully integrate model building and scoring easily using its object-oriented architecture.” Some of the R functions and packages used include glm (for generalized linear modeling), MASS, rpart (decision trees), nnet (neural netwoks), and rjson (for data exchange).
If you’re interested in learning more about LityxIQ, there will be a free webinar this Thursday, presented by Lityx. I’ve included the webinar abstract and the registration link below.
Marketing Analytics, Modeling & Optimization with LityxIQ
Fortune 1000 organizations make big investments in predictive analytics to optimize their marketing budgets. Now, any size organization can develop the same marketing insights enjoying the same efficiency benefits with LityxIQ.
Learn how your organization can discover valuable insights about customers, predict their behavior and their future value, and optimize marketing budgets using a sophisticated and powerful marketing analytics platform designed for business users.
LityxIQ was developed by PhD statisticians and marketing analytic experts working with some of the largest companies and non-profits in the world. Its cloud-based delivery allows every organization to leverage their data through an affordable subscription model without internal IT investment.