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BizReport : Internet : April 18, 2014

How predictive tech may simplify engagement

Predictive technology is a new phrase beginning to make the rounds in boardrooms around the world. At the core, predictive technology is high-functioning behavioral targeting. It uses consumers behaviors and interests to extrapolate how that consumer might engage or interact with a branded message, piece of content or even social status update.

by Kristina Knight

Kristina: What is predictive technology?

Max Wheeler, CEO, Mynd: Predictive algorithms learn from the user's behaviors and interests to determine their future intents. In many cases those intents are transactional in nature and are a great engagement opportunity for brands and services.

Kristina: Why is this important for online brands?

Max: Predictive Technology is very useful for brands to get engaged with customers at the most appropriate time. For example if I get coffee every day at 2pm that would be a pretty good signal that I'm likely to do that again tomorrow. Local coffee shops could be given an opportunity to vie for my business with plenty of time for me to make a decision.

Kristina: How can brands incorporate predictive technology into their daily business?

Max: Predictive technology is going to be most effective when integrated into tools that users use on a daily basis. In Mynd's case the tool is the calendar. Brands should work with predictive apps makers to integrate their products and services in a seamless fashion. The app vendor's algorithms will be able to select the most appropriate time to present users with the appropriate transactional opportunity.

Image via Shutterstock

Tags: advertising, ecommerce, ecommerce targeting, Mynd, predictive technology

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