Advertising analysis, although a vastly diverse concept, yet finds its base stipulated to a few ground rules. However large be the scope of advertising, there always is the uniformity of basics that lays cohesion among the branches. Although many look at the future irrespective of the past, it is still vague to classify past as ‘unimportant’; especially whilst dealing with advertising. That is why Predictive Analysis sets a benchmark; it includes past and future predictions.
This basic uniformity among all advertising and all advertisement analysis forms interrelated nexus of data and predictions. Let the complexities be a topic of debate for the later part, think about the basics here. Think about an ad. Think about a campaign. Focus on scaling. Wonder what could be better and what could be wrong. Just toggle between the basic concepts on hand and there would come the question about historical data and future predictions.
This is where we roll back to the basic concepts and then intermix them with the future horizons to create a branch of ‘Data Science’ that caters our needs. The branch that covers the basics and indulges with the complex multitudes of data analysis to bring about what we direly need in advertisement: an Advertising Analysis. This pre-advertising analysis lays the foundation for a successful stint of ads and all.
Although this phase of work was always ‘an analyst’s place to ace’ but dependency on err-able sources has been minimized with chips and software eventually replacing humans. Now there is competition. It is not the same one man show; now it is analyst versus predictive analysis. It is man versus a man made software. It is beyond simple old methodologies now.
An Analyst or a Predictive Analysis?
Who is more dependable between the two? That would be a topic of debate to ensue. But that is not what it is going to be. This is more about what favors the business. More about what aids the ad tech and boosts the returns to an extent that is scaled between 1 to 10 as ‘wow’.
Although the computer versus human debate has long persisted and has been a pertinent issue, it is not a focal point here. Nothing about quantitative or numeric legitimacy. Not about numbers or deliverable quantity. When it is about analysis, it is more about quality than any other thing.
No offence to conventional methodology, but yet some issues require another approach for solutions. Analysis requires more than just a brain. More than just an intuitive approach. It requires comparative skills and deep-dive methodology to a level of mastery.
Predictive Analysis: Definition for Starters!
For those who have always looked forward to an analyst dishing out the advertising analysis to their table, this concept needs revision. Prediction based analysis or the more common nomenclature: Predictive Analysis, is a resultant of data fed through multiple streams, analyzed at multiple points and plotted as a single result.
Predictive analysis is bred out of a nexus of data, all linked and interconnected. Although the wordiness of the definition may dish out a simple concept but it is not. It is not like adding three fruits to a juicer and getting a punch in a glass. It is similar to planting, harvesting, sorting, dicing and mincing the fruit before making a punch.
Simple concepts that are weaved together to bring about the future of data analysis are the basis of Predictive Analysis. It is a perfect mix of simple things and complex concepts and henceforth, it brings about the finest form of data analysis to the table.
Predictive analysis basically uses historical data and compares possibilities and probabilities listed in the past to plot a future prediction. It compares the data provided to it at over a 100 different points at times and after that, it plots out the past against the future probabilities. No overlooking facts, no error in judgement!
Futuristic phenomenon or Realistic approach?
A few years back and this talk would have sounded unreal, intuitive and from a Utopian mythology. Now, it is past that awing phase. It is reality that futuristic approach has accelerated itself in the market far quicker than anyone else. It has made orthodox means look feeble and it yet is looking to revolutionize the world of ad tech more.
Predictive Analysis is the way now and the way forward. With its ability to plot analysis from historical data within a short time span,it beats its only competitor without a hitch. Quicker, Accurate and Predictive. Why would you not choose it?
Want to know more about Predictions and BI? Get in touch now!