If I had asked any of my schoolmates what an “algorithm” was, their eyes would have glazed over and they would probably have asked me what I had been smoking. Fast-forward a few decades and we’ve got the algorithmification of everything, including marketing.
Stephen H. Yu
Customer acquisition online is getting more and more difficult, because privacy laws are picking up speed, most e-commerce marketers offer steep discounts and, despite all of that, customers expect relevant offers.
Stephen Yu’s recent and extremely thought-provoking piece on AI started me wondering once again about the dangers of data overload and whether we’ll ever really, really understand the purchasing decisions people make, how they make them and be able to track them accurately.
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?
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.