One-dimensional techies will be replaced by machines in the near future. So what if they're the smartest ones in the room? If decision-makers can't use data, does the information really exist?
Stephen H. Yu
What is it about these buzzwords that speak to the marketer’s soul? Marketers use emotion to get consumers to buy products and services, so it may stand to reason that marketers use the language among themselves. Buzzwords, after all, tap into emotional centers in the right brain, says Harvard Business School professor Nancy Koehn in a 2014 article in the Atlantic.
The thing about predictive analytics is that the quality of a prediction is eventually exposed — clearly cut as right or wrong. There are casually incorrect outcomes, like a weather report failing to accurately declare at what time the rain will start, and then there are total shockers, like the outcome of the 2016 presidential election.
There are data geeks and there are data scientists. Then there are data plumbers, and there are total posers. In this modern world where the line between “real” and “fake” is ever-blurrier, some may not even care for such differences.
Like any resource like water, data may be locked in wrong places or in inadequate forms. We hear about all kinds of doomsday scenarios related to the water supply in Africa, and it is because of uneven distribution of water thanks to drastic climate change and border disputes.
Recently, I participated in a panel discussion at a major e-commerce conference. The topic was about the “Future of Marketing,” and naturally, the discussion went towards the Internet of Things and other futuristic technologies. The key question was, “How should marketers adapt to these rapidly evolving technologies?”