Data in Marketing

The Premise

Data can be manipulated, edited and customized into many formats. Many scientific data collection processes work with sponsors that require insights and sometimes complex conclusions.

1. Fewer than half of 100 studies of 2008, were replicable

2. Referencing Daniel Kahnaman’s letter to scientists

3. TV Ratings by Nielsen Had Errors for Months

Research, in its entirety is complex. Even Dan Ariely, Duke Researcher, has reservations about the impact of critical research. This is an excerpt from his predicament about “ripping bandages. “

The Sample Size

Having the right sample size is critical. Even inside one niche, (say gaming), there are varying personas of individuals that enable qualitative v/s quantitative data. All in all, people may have similar interests but their interests can vary with their own biases. E.g. a hardcore gamer may enjoy different game experiences in different scenarios. Even defining a hardcore gamer can be difficult

Finland & Taiwan. Here’s an example of bad research. The data is self documented and there are multiple misnomers. 

Link here 

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Managing complexity

Data is data, but people are people. There is significant complexity involved when dealing with real interactions. That’s why tests need to be designed in a manner that is compliant with best practices and have limited ambiguity with regards to external factors. Brands need to be developed using this model.

Data in Marketing

Its been a while since I talked about this subject. Data is subjective. That is fact. You can twist and turn it anyway. That’s why data isnt the Bible. Its stories. Stories work and are scalable. Thats what data doesn’t track away. I’ve been priveledged to see sales numbers, valuation data, metrics for ROI on eccentric ads, and mobile links that pointed to news media outlets for better SEO. Data is everything. But i think we forget the idea of culture. When the company has good culture, a loving way to market and do business, data becomes normalized and is clearer to assume. Otherwise, its all rain-man in the rain. Its just falls from the sky and everything is up for grabs. Human (game rules) also interfere in the data. Example –

Customers from last Q purchased 20% more than this Q, but had a stronger recall on ad spends and copy.

Does that ring a bell? It means that people bought less but they remember you more. What does that mean?

It means that the competition’s got something better or cheaper, but you’re the preferred partner. So you need to act fast and get going.

Now the data wouldn’t have told you that directly. Because there are factors beyond its control.

So really, data all that it is – is numbers derived from a particular set of behaviours based on assumptions.

What matters is what you do with it

Strategy