Summit launches predictive analytics platform
The platform takes internal and external data – from sources such as Google, transaction history, weather, location, stock availability and current TV ads, and uses statistical models to predict the likely sales from a given marketing spend.
According to the announcement, the platform recommends how to adjust the bid level and messaging for paid search, display and product listing ads to maximise the profit from each channel and achieve the predicted sales.
The predictive analytics engine was developed over four years in collaboration with a team of statisticians led by Professor David Wooff from Durham University.
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