Amex and Acxiom create a prediction engine based on purchase data

American Express (Amex) tracks about a trillion dollars in annual spending. This week, it is announcing a new effort with data service Acxiom — called Predictive Intent Segments — to use that spending data to predict which individuals are likely to buy certain products.

Let’s say you’re a bike manufacturer that wants “to find households in America most likely to buy a bike,” Amex Advance VP and GM Marc Ginsberg suggested to me.

First, Amex will find personally identified individuals with American Express cards who have actually bought a bike recently.

Then, using the personal identification, it appends the record with additional data that Acxiom has in its database about that particular buyer.  Acxiom might have, for instance, recent purchases by the individual using other forms of payment at commerce sites, physical athletic stores and baseball stadiums, and it matches that additional data through the person’s name, address and other personal info.

[Read the full article on MarTech Today.]

---

About The Author

Barry Levine covers marketing technology for Third Door Media. Previously, he covered this space as a Senior Writer for VentureBeat, and he has written about these and other tech subjects for such publications as CMSWire and NewsFactor. He founded and led the web site/unit at PBS station Thirteen/WNET; worked as an online Senior Producer/writer for Viacom; created a successful interactive game, PLAY IT BY EAR: The First CD Game; founded and led an independent film showcase, CENTER SCREEN, based at Harvard and M.I.T.; and served over five years as a consultant to the M.I.T. Media Lab. You can find him at LinkedIn, and on Twitter at xBarryLevine.

Go to Source
Author: Barry Levine

For more SEO, PPC & online marketing news visit https://news.scott.services

The post Amex and Acxiom create a prediction engine based on purchase data appeared first on Scott.Services Online Marketing News.

source https://news.scott.services/amex-and-acxiom-create-a-prediction-engine-based-on-purchase-data/