A key tenet for data-driven marketing professionals is fact-based decision-making. However, something strange is occurring in scientific studies, where tested and proven results are becoming difficult to replicate. The challenge for marketing professionals is to realize that what is true today may…
Continue reading "Good Today, Bad Tomorrow: The Squishiness of Facts"Posts Tagged ‘statistics’
Thursday, January 6, 2011
Thursday, April 29, 2010
Comfortable Speaking About Statistics?
Statistics have been called “an engine of knowledge” by one risk management expert. And while it’s true that some business managers don’t have a fundamental grasp of statistical concepts, we also know there is opportunity for misuse of mathematics. Is statistics the “new grammar” or are…
Continue reading "Comfortable Speaking About Statistics?"Tuesday, August 11, 2009
The Moneyball-itzation of Marketing
Oakland A’s General Manager Billy Beane started the “Moneyball Revolution,” where analytics replaced intuition as the primary method of evaluating talent and assembling a professional baseball team. And while Beane’s critics entertain some self-satisfaction from the recent mediocrity of the A’s,…
Continue reading "The Moneyball-itzation of Marketing"Wednesday, April 22, 2009
The Great Recession: Things Are Different Now
The global financial crisis of 2008 and beyond has shaken countries, markets, and individuals, in turn causing increased pessimism, angst and even anger. And yet, for those wishing for things to “return to normal”, a new survey argues that we’re in the “new normal”. What are the lasting impacts of…
Continue reading "The Great Recession: Things Are Different Now"Monday, January 26, 2009
Is Inventory Still Evil?
“Inventory is bad, inventory is evil,” finance and operations professors intone across business schools worldwide. And every B-school graduate knows companies should balance enough inventory to meet customer needs while accommodating shifting preferences. That said, companies face a paradox;…
Continue reading "Is Inventory Still Evil?"Tuesday, December 9, 2008
Decisioning in Volatile Times–Probability, Intuition or Inaction?
No doubt, we live in volatile times. The complexity, interconnectedness and intricacy of global markets is causing executives around the globe to check decisions once, twice and even delay important decisions because they cannot “peer around the corner.” Some marketing executives are asking…
Continue reading "Decisioning in Volatile Times–Probability, Intuition or Inaction?"Tuesday, July 15, 2008
In a Petabyte Age, Is Understanding Passé?
Analysts have estimated that the volume of data in enterprises of all sizes is doubling every two to three years. With the deluge of data, some companies are finding it makes more sense to discover and act upon patterns (i.e. customers who buy item X also buy item Y), rather than dig deeper and…
Continue reading "In a Petabyte Age, Is Understanding Passé?"