Amex and Acxiom create a prediction engine based on purchasing data

American Express (Amex) tracks about one trillion dollars in annual expenditures. This week, it announces a new effort with the Acxiom data service – called Predictive Intent Segments – to use this expense data to predict which people are likely to buy certain products.

Let's say you're a bike maker who wants to "find America's most likely households to buy a bike," suggested Amex Advance VP and GM's Marc Ginsberg.

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

Then, using personal identification, he adds to the additional data record that Acxiom has in his database about this particular buyer. Acxiom could have, for example, recent purchases by other means of payment on commercial sites, athletics stores and baseball stadiums, and this corresponds to these data by name, address and other personal information.

[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 on these topics and other technologies for publications such as CMSWire and NewsFactor. He founded and directed the website / unit at PBS Thirteen / WNET; worked as a senior online producer / screenwriter for Viacom; created a successful interactive game, PLAY IT BY EAR: the first CD game; founded and directed an independent cinema showcase, CENTER SCREEN, based at Harvard and M.I.T .; and served more than five years as a consultant to the M.I.T. Media Lab. You can find it on LinkedIn, and on Twitter at xBarryLevine.

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