Predictive Analytics in Consumer Behavior and Market Strategies

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Abhijit Pandit, Govindarajulu Eedara, Akash C Mathapati, K.Prabakar

Abstract

Predictive analytics has become one of the crucial approaches to new knowledge about consumers and their behaviour, and thus to the improvement of market strategies. Machine Learning, Computational Statistic, Big data analytics, etc. help the businesses in understanding untold story and in predicting future consumer’s behavior to a very great extent. In this research, we examine the use of predictive analytics in the ability to interpret consumer behaviours, preferences and buying patterns. It also looks at ways the knowledge helps firms Particularly when designing the marketing communication and improving customer experience for competitiveness. Besides, this paper discusses the issue of ethics connected with data gathering, algorithms used in the process, and privacy preservation. The study underlines the importance of Innovative predictive analytics as essential frameworks for improving decisions making in the emerging market environment. 

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How to Cite
Abhijit Pandit, Govindarajulu Eedara, Akash C Mathapati, K.Prabakar. (2024). Predictive Analytics in Consumer Behavior and Market Strategies. European Economic Letters (EEL), 14(4), 1261–1270. https://doi.org/10.52783/eel.v14i4.2254
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Articles