Editor's Note: "Genome Decoded" is a series that tells the story of Genome, our data-driven audience-buying solution, from many angles, to bring you a little closer to Big Data.
Big Data gets bigger every day, feasting on an endless banquet of online actions and transactions. Rather than being overwhelmed, some experts are using a technique called predictive analytics to break down Big Data and accurately predict future events. In the 2012 election, ace statistician Nate Silver used Big Data and predictive analytics to correctly call the winning presidential candidate in all 50 states. The Genome from Yahoo! team uses the exact same approach to predict the future for its customers’ marketing campaigns, according to Kira Roytburg, director of Analytics for Genome.
Here’s how they do it: Analyze huge amounts of relevant data with sophisticated models, mix in human judgment, and continually tweak the models based on real-world results. Kira’s team can provide detailed analysis of every stage of a marketing campaign, from set-up to final results, but in this interview we focused mainly on Genome’s predictive analytics capabilities because, well, they’re so cool.
Yahoo! Ad Blog: What can predictive analytics do for your customers---and how do you do it, anyway?
Kira Roytburg: Simply put, we use this capability to predict a wide range of future outcomes for our advertisers’ campaigns. Those outcomes usually involve a customer action or conversion, like clicks, sales, site visits, answers to surveys, almost anything the customer wants to measure.Read More »from Nate Silver Popularized Predictive Analytics in the 2012 Election; now Genome Harnesses its Power for Online Marketing