Another way to describe it: Making predictions when data fails you. The really fast answer: when the rules are static and well described, the machine gets it. Example: IBM winning chess matches. When the rules change or even when the game changes, good luck. What do smart people do that…
Create one-to-one customer relationships, move beyond basic demographics
Written by Thomas Stanek & Christopher Skinner Imagine if we could create a one-to-one relationship with all consumers not just based on their standard actions such as click-thru, banners, demographics, market baskets, and loyalty programs but based on their personality. Actions are “nice to knows” but don’t truly encapsulate a consumer’s motives…
Nudging Nudge Theory: The importance of customer segmentation using predictive data
There is a lot of talk about Nudge theory these days. Nudging someone is smart, works and the concept should be utilized by all organizations to better serve customers and itself. Created by Richard Thaler, Nudge Theory proposes the idea that you can influence people towards a specific desired direction…