I saw an article by Leslie Ament over on DM Review today - "The Precision Marketing Imperative". Leslie introduces some of the key concepts behind precision marketing and has this great definition
Driving continuous performance improvement through the use of personalization, segmentation, analytics, rules-based interactions, customer profitability scoring, decision-trees and/or closed-loop marketing planning and execution processes.
For those of you paying attention to this blog you will see that enterprise decision management is a great way to approach precision marketing. Not only does it include the use of business rules (including decision trees)and analytics, but it enables fine grained segmentation and deep personalization by moving from an environment where a single decision is taken about a campaign to one in which a decision is taken about how to interact with each customer. This focus on the automation and improvement of operational decisions is what EDM is all about and precision marketing is one of the growth areas for this approach.
There's a bunch more on marketing related topics on this blog and my colleague Jeff Zabin (who wrote a book called Precision Marketing) has a blog also - Pareto Rules - with lots of posts about this topic including this one. I also blogged about a previous article Leslie wrote on leveraging customer intelligence.