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Sales Teams Are Investing in a Mix of Analytics Tools

More than half use predictive analytics

October 25, 2017 | Marketing Technology

There may be a lot of buzz around predictive analytics right now, but a recent report from consultancy Bluewolf shows sales teams are implementing a combination of analytics technology.

Types of Analytics in Which US Sales Professionals Are Investing, July 2017 (% of respondents)

A July 2017 survey of US sales professionals revealed that predictive analytics topped the list of tools, used by 53% of respondents. These tools apply statistical models and forecasting techniques to make educated guesses about likely outcomes.

But nearly as many, 49%, invested in descriptive analytics, which mine historical data to provide insight on what’s already transpired during the customer journey. And although the technology is still fairly nascent, almost a third invested in prescriptive tools that use algorithms to suggest next moves.

According to a June 2017 survey of advertising and marketing executives in North America from GumGum, 52% of respondents used predictive analytics, thanks to the growth and maturation of artificial intelligence technology that powers predictive tools.

Usage of Select Marketing Technologies at Their Company According to Advertising and Marketing Executives in North America, June 2017 (% of respondents)

Overall, the predictive analytics sector is growing fairly quickly. According to a MarketsandMarkets forecast, the market is expected to hit $4.56 billion in worldwide revenues in 2017. By 2022, the firm projects that figure will reach $12.41 billion.

Maria Minsker

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