First-party data collection is data you own. This method is when you obtain data directly from your sources. This data source is most effective and reliable because you get your information firsthand from your consumers, eliminating misinterpretations and errors.
Predictive modeling analyzes the characteristics of business or consumer leads to find what characteristics (or signals) correlate with desired behaviors (such as purchasing your product), and then creates and tests a statistical model to assess the probability of future behaviors and outcomes. The model is then used to predict,