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Monday, December 22, 2014

Google Releases Purchase Prediction Tool

In Mediapost:   Most interesting idea, especially as it deals with a perhaps unique path to conversion. Very interesting problem from an analytical point of view.  Includes where interactions occur on the journey.  Read the rest of the article, more details and statistics.  Details of the data being used to derive the prediction is unclear.  [ Update: The link below mentions the data used]  A form of retail oriented user model?  Looking further, hope to find out more.

" ... In an attempt to better understand the path to purchase, Google released an online tool that enables marketers to predict the journey in which customers will take to make a purchase. The tool, The Customer Journey to Online Purchase, allows marketers to explore for businesses how any of the 14 industry channels influence purchase decisions.

The tool enables marketers to pick from 14 channels including Arts & Entertainment, Fitness & Beauty, or Law & Government, as well as the size of the business, small, medium or large, in a variety of countries such as the U.S., Brazil or Japan. For each market, channels such as social or paid search are posted toward the left of the graph based on the country and business size. ... " 

1 comment:

Steve Berke said...

I enjoyed reading your article. Please make more interesting topics like this on.
I'll come back for more :)

From Japs a researcher from alwaysopencommerce.com