Book Club: Let Your Data Do the Driving
"Most business models that fail, do so because of a misunderstanding of the customer base," contends data analytics expert and author Alan Weber in his new book, "Data-Driven Business Models" ($49.95, Thomson Texere). This, he goes on to explain, means you should develop your marketing strategies around who your customers actually are, not who you think they are. But that's the rub—how exactly do you find out who your customers are and how they differ from your perceptions?
The answer, according to Weber, is data analytics. Throughout this nine-chapter book, Weber discusses—and illustrates through a collection of case studies and examples—how such data analysis tools as profiling, profit-based segmentation, predictive modeling, overlay and survey data, and descriptive modeling can help you understand, describe, and quantify customer behavior. This is, he writes, "hands down the best predictor of future behavior."
This tome is a must-read for any high-level decision maker—or corporate climber with an eye on those top rungs—interested in building his or her business into the direct marketing powerhouse it has the potential to be.
—Tracy A. Gill