What Is Descriptive, Predictive And Prescriptive Analytics For eCommerce? [Video]

Descriptive, predictive and prescriptive analytics data are the three pillars of the stable eCommerce business development. You might not use these particular definitions, but you certainly already use at least two types of this data to improve your website efficiency.

In a nutshell, descriptive analytics in marketing is designed to analyse historical data, predictive analytics — to forecast future performance, and prescriptive — to develop a strategy for the predicted scenario.

Let’s take a closer look at each type of analytics and define for what specific purposes these are employed.

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Analytics data as a way to improve customer experience

The global goal of analytics is to:

• identify and improve business weaknesses
• identify and enhance its strengths
• identify new effective solutions and find ideas on how to implement them.

In eCommerce, analytics tools now can measure all aspects of business: from operational processes to customer behaviour on a website. But especially when it comes to customer …