Predict the Future to Shape the Future
Reduce risk and achieve your revenue goals.
Managing performance expectations for your ecommerce site can feel daunting. Setting achievable goals around quarterly revenue or inventory needs can be a tough sell to your executive team. Justifying a request for higher marketing budgets or an additional promotion on the marketing calendar without the ability to accurately forecast what that promotion or budget increase will achieve is a challenge. And without that insight or ability to predict, you are at risk to achieve the revenue goals in place.
At Blue Moon Digital, our Chief Data Scientist has written a proprietary algorithm using predictive modeling that helps our clients reduce the uncertainty of what their revenue demand will be for the subsequent quarter or month. Being armed with applied predictive modeling, you can determine if adjustments need to be made to your marketing plan or website to ensure a successful quarter or month.
How We Do It Better
Rather than leveraging open source machine learning packages, we created a proprietary algorithm. Since we have written our own algorithm, we have the exclusive ability to easily customize our predictive model to accommodate unique data inputs for your business.
Our algorithm isn’t a black box, we let you see inside. You will see the independent variables and their coefficients. This shows you what behaviors have the most impact on your dependent variable – website revenue. Is it the bounce rate, page load time, or media spend influencing that variable most? Knowing what is affecting revenue the most will reduce the uncertainty of what action to take.
Better yet, we break the revenue prediction down by digital channels. This way, you can understand which channel (Paid Search, Organic, Email, Facebook, etc.) is having the most impact. With our 90-day predictions, you have time to adjust a channel’s program if the prediction is showing that you are going to miss your revenue goal.
Every client, and every client project is unique, and we don’t assume that your brand’s story is the same as another brand’s story (and neither is your data, for that matter). Each revenue prediction is built specifically for each brand. Our algorithm and predictive modeling solutions do not take a one-size-fits-all approach. We spend time making modifications based on your specific data.
The Impact We Make
Accuracy matters. We remove the subjectivity and guessing from predicting website performance. Leveraging machine learning produces more accurate revenue predictions than traditional forecasting models. Machine learning models better take into account patterns in your data that traditional forecasting models ignore. By having a more accurate prediction of your sales at your fingertips, you are better equipped to make strategic decisions that impact your bottom line.