Published under: Predictive Marketing, Predictive Analytics

The ever-growing expanse of data is allowing more and more industries to get in on the predictive game. The photo-1437075130536-230e17c888b5-1Hollywood Stock Exchange (HSX) is a multi-player game that operates using Hollywood Dollars. Players buy and sell virtual shares of celebrities and movies – like Fantasy Football meets the Stock Exchange for Hollywood.

The HSX has recently recorded accuracy rates as high as 96.7% when predicting box office revenues.  Players are so tapped into the ebb and flow of the industry that even the slightest fluctuations are tracked.

In addition to the HSX, Hollywood insiders are using data collected from social media to predict the future success of actors, movies and opening weekends. In a paper released by HP Labs, researchers revealed that by tracking the author, date, time and content of tweets in the weeks prior to a movie opening, it was possible to predict successful box  office openers with a 97% rate of accuracy.

Predictive marketing allows organizations to focus marketing efforts and gain a competitive advantage. With data-backed campaigns that produce reliable, predictable results business teams are uniquely positioned to maximize ROI.

Related Posts

What is Data Driven Marketing?

Predictive Gaming

What is the ROI of Transparency?