Even five years ago a true, multivariate statistical model cost somewhere in the mid six-figures to produce. It might save you 20% of your marketing budget annually, but if your budget wasn’t in excess of $20 million the math never worked out. Today, Piraeus has the tools necessary to help you build cost-effective data models such as the Next Logical Product Model well below the six-figure mark.
If your customer bought A, are they more likely to buy B, C, or D next? Instead of sending them generic material, wouldn’t it be good to know?
Good analytics is very hard. The tools are there, but the main challenges again come around to data analysis and good processes. The data has to be in good shape in order to get intelligible, actionable results from modeling. And this is where Piraeus excels.
Multivariate statistical modeling is the pinnacle of the BI pyramid, and our goal is to help our clients reach that stage. We have the capability to model existing processes and return in order to focus budget on the most fruitful areas leading to an improved ROI or at minimum a decreased cost to convert.
