Behind every personalized lineup of “binge-worthy new shows for you,” or perfectly-timed offers for 30% off an oil change, an algorithm crunches data to take a best guess at when and how to deliver a specific message to a specific person. The incredible amount of data we have about shopping, eating, driving and other habits makes it possible to accurately predict consumer needs – and in turn, today’s consumer may even expect to be reminded about past purchases and future needs.
In the fourth and final INSPIRE Session of 2021, panelists discussed the benefits predictive algorithms can have for both consumers and businesses, where predictive service offerings are making new headway, and how emerging use cases for predictive algorithms can advance with more sophisticated supporting tech.