Predictive Modeling is the Smart Way to Drive Your Fundraising By: Zak Mazur in Fundraising Strategy September 21, 2016 With Predictive Modeling, you don't need a crystal ball to see the future to get insight about your prospects' future behavior. Wouldn’t your job be so much easier if you had a crystal ball that could help you more accurately identify future prospects? Of course, it would! And guess what? There is a process that can help you build mailing lists toward that end. The process is called Predictive Modeling. There’s no magic involved, just technology and smart analytics. Predictive Modeling: What it is and How It Works Simply put, Predictive Modeling is a process to create a statistical model of future behavior. Data is mined and analyzed to forecast probabilities and trends based on predictors, which are variable factors that are likely to influence future behavior. Predictive Modeling is used to analyze databases to find new customers, members or donors who fit the profile of your targeted audiences. When done right, Predictive Modeling is a cost-effective way to help an organization find new members. It’s a great way to be more efficient using oftentimes limited resources. Predictive Modeling is a cost-effective way to help an organization find new members. Click To Tweet Operating Predictive Modeling An organization needs a staff member who has the technical and analytical skills to collect information on the data, build the models and communicate the results. This person makes sure the correct information is being collected and the proper information is being communicated. If you don’t have such a person on your staff, one solution is to hire one; although that will take a big bite out of your budget. Another solution is to hire an outside agency to conduct Predictive Modeling for your organization, which is something more and more nonprofits are doing. Use our email marketing services to reach more members. Learn More Raise more. Reach more. Help more. We’re here to help you meet your goals. Learn More Trending Posts How to Write an Irresistible Donation Request Letter (Complete with Donation Letter Templates) November 9, 2017 By Miles Anthony Smith | 1 Comment The Exhaustive Guide to Selecting Membership Software Best Suited for You November 21, 2017 By Miles Anthony Smith | 0 Comments When Are Donations to Nonprofits Tax Deductible? October 11, 2017 By Andrew Paniello | 0 Comments The Economic Impact of Nonprofit Organizations (Part One) December 15, 2017 By Andrew Paniello | 0 Comments Tags: fundraising, nonprofits