The Business APAC HR Tech Exclusives of 2019 March 2019 | Page 39

understand their target audience better. Plus, it takes to a new level of accuracy and speed for contextual content, marketing automation which includes cross-channel marketing campaigns and leads scoring, personalization, and sales forecasting. Now, let us try to understand how machine learning is shaping the digital marketing industry: Predictive analysis for generating precise leads and results Predictive analysis is simply the use of data, statistical algorithms, and techniques of machine learning to determine the likelihood of future conclusions based on data history. If predictive analysis blends with machine learning, it will make salesperson life much easier. Machine learning models a neural network according to the required predictions. For instance, to model a neural network for financial institutions, which predicts debtor risk, a recurrent neural network (RNN) can be used. Further, while in businessapac.com 39 practice to develop precise predictions, the neural system will require a huge amount of data sets of previous debtors. The inputs can be age, gender, current debt, income etc. Such predictive analysis backed by machine learning can be used in the ranking of prospects or lead scoring. Likewise, the models generated through the expert system can be trained to rank prospects or leads based on some criteria defined by the sales team as qualified buyers. As a result, the sales team can focus on the positive leads. In this way, marketers can save considerable time and resources as well as increase their sales. An intelligent chatbot for improving the customer experience Many organizations are using chatbots for enhancing the customers’ experience. Combined with machine learning, chatbots make the process of automating responses even Mar. 2019