Google introduces 2 new predictive tools in Analytics platform.
In a bid to help people better analyse their data and predict future actions, Google has introduced two new predictive metrics to its App + Web properties in its Analytics platform. The first is Purchase Probability, which predicts the likelihood that users who have visited the app or site will purchase in the next seven days.
"The second, Churn Probability, predicts how likely it is that recently active users will not visit your app or site in the next seven daysm" the tech giant said in a statement on Friday. The users can use these metrics to help grow their businesses by reaching the people most likely to purchase and retaining the people who might not return to their app or site via Google Ads.
Analytics will now suggest new predictive audiences that you can create in the Audience Builder. "Predictive audiences automatically determine which customer actions on your app or site might lead to a purchase — helping you find more people who are likely to convert at scale," said Google
In addition to building audiences, people can also use predictive metrics to analyze their data with the Analysis module. "For example, they can use the ‘User Lifetime' technique to identify which marketing campaign helped them acquire users with the highest ‘Purchase Probability'.
"With that information, you may decide to reallocate more of your marketing budget towards that high potential campaign," explained Google.
