Mar
What if every US citizen had a dollar for every good decision made by the president and lost a dollar for every bad decision? How much would Americans have in their “Decision Account” now? What about a half-good decision? Would Americans’ Decision Account be credited for 50 cents? Clearly, the whole matter hinges on what is defined as a good or bad decision.
Mar
Responsible AI – What Causes Bias in Training Data?
jerry9789 0 comments artificial intelligence, Burning Questions
Over the past few decades, the use of AI in business has grown tremendously. By 2030, AI may generate up to $15.7 trillion in revenue to the global economy.
From process automation to sales forecast, the potential applications for AI in business are nearly limitless. But, you’ve still got to wonder, what happens when we place so much power on fairly new technology? Will it be fair or biased? Will it try to take over the world in the future? We don’t give the fear mongers much weight about AI taking over the world, but unchecked bias in AI data or models can lead to unintended negative consequences that do real harm.
Mar
Artificial Intelligence (AI) is becoming a critical component of digital marketing. AI in marketing can be particularly revelatory, often delivering valuable insights that marketers can use to develop personalized content, drive conversions, and improve customer experience. Such insights help develop effective marketing strategies, which increase Return on Investment (ROI) for AI implementations.
Mar
4 Ways Data Can Help Create Sustainable Revenue Growth
There is no question that year after year, the cost of revenue (COR) generation continues to climb. Look at publicly traded companies in nearly any sector and read the reported costs associated with sales and marketing. In almost every case, the costs of acquiring revenues continue to outpace the gross revenues generated. It costs more to make the same money. In today’s world of shifting digital and economic landscapes, tapping into data in real time and extruding insights gives executives a critical tool to stay ahead of the curve. Near real-time decision making is a necessity – not a luxury.
Feb
Data Science Team: Build or Rent?
Eric Layland 0 comments artificial intelligence, Burning Questions
Building an Efficient & Effective Data Science Team
There are numerous reasons why a company may decide to develop a data science team in their organization. The skills an in-house team brings can enable organizations to turn raw data into strategic assets. Their skills lead to better use of data assets including understanding customer behavior, error detection, automation of repetitive tasks, and overall more sophisticated decision support. A data-driven organization can benefit and gain a competitive edge.
However, building an effective and efficient data science team is not as simple as adding new hires. Before we can discuss whether to rent or build a team of experts, it’s essential to understand the roles typically needed to fully staff a data science team.
The included salary estimates do not include benefits. The figures are an average of the latest available data from Salary.com, PayScale and ZipRecruiter and reflect US labor markets.
Feb
Marketing AI Curious? Here’s 7 Key Questions to Ask
jerry9789 0 comments artificial intelligence, Burning Questions
Artificial Intelligence(AI) has recently been integrated into marketing and is still in its early stages. It makes automated decisions based on available data and audience observations or economic trends that impact marketing. By doing so, it enables marketers to gain more insight and understanding of their target audiences.
However, a business must comprehend how AI Marketing works and its effects before adopting it. Here are seven questions every company interested in AI Marketing should ask themselves.
Dec
Latent Effects Modeling with AI & Machine Learning
jerry9789 0 comments artificial intelligence, Burning Questions
We’ve been posting opinions and comments that urge marketers to “get over” artificial intelligence (AI). To dive into AI’s veritable treasure house of research tools and insights, instead of circling it warily, for fear of banging into a “disruption” moment.
Marketers: use advanced analysis techniques for deeper insights
So, I hereby plant the flag of AI for the regular guy (or gal, of course) — well, at least for the professional who wants to use precise and accurate data to propel insights that simply wouldn’t be perceptible with traditional approaches to analysis.
Jun
It’s unfortunate but true—context often goes overlooked when examining market research results. All too often, really, market research provides numbers that don’t 
seem to mean a thing without background information to support them. The important takeaway here is, in order to analyze data for meaning that is actually relevant to your marketing venture, you need to understand its context.
Context matters in everything we do. For instance, spending double digits on a meal seems absurd at a fast food restaurant, but it’s the norm at a sit-down one. Meeting someone who’s a 14-year-old student is typical—until you find out she’s attending an Ivy League University among the most brilliant adult minds in the country. Now, take this idea and apply it to your market research. What does it mean to have a satisfaction rating of 70%? Is this result favorable or not?
May
For a long time, corporations have been working to understand how to affect consumer behavior and influence more people to purchase their products. Market research has made some headway in this arena recently, explaining how the impulses that drive consumers to purchase are produced. Now, you may not realize it, but it turns out that what makes you feel good is a part of the brain dubbed “the pleasure center.” It’s this center that makes us feel happy when kissed, that drives us to eat our favorite foods or play our favorite games, that makes us want to relax on the beach.
Laboratory tests have shown that rats who can control their pleasure centers with a switch will literally jump at the opportunity to do so. Scientists set up electrical pulses that control the pleasure centers of rats’ brains and found that the rats would sacrifice anything to continuously pounce towards the levers and experience electrical bursts of happiness. Disturbingly, rather than eat or sleep, these rats flipped their switches without end, stopping only when they died of sheer exhaustion…
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