In the last post, we examined the basics of extracting data from various data stores and the different types of datasets we have access to. Let’s now look at the process of preparing data. Three Data Challenges In the preparation of our data, we typically face three challenges: Missing data Corrupted data Irrelevant data To…
In the last post, we looked at the consequences of having poor process in our predictive analytics practice. Let’s look at the first step of that process now. Pull If data is the new oil, pulling data is analogous to drilling and extracting oil from the ground. We need to identify what data sources we…
The Predictive Analytics Process: Introduction While we understand the value of predictive analytics, the ability to see into the future with specificity and precision, we are often unclear on the process to develop predictions. As a result, our predictive analytics outputs are often incomplete, lacking context, or difficult to understand. Introduction: Where Predictive Analytics Goes…
I had the pleasure and privilege of delivering the opening keynote at MarketingProfs B2B Forum. This year’s keynote is titled Cognitive Marketing: How AI Will Change Marketing Forever. For those who would like to see the slides, they are below. In addition, if you’d like a deeper dive into the type, I invite you to…
We’ve read about AI and marketing for years now. We’ve heard the promises of AI and how it changes marketing for the better, makes us more efficient, helps us unlock vast potential trapped in our data. Yet, marketers still remain confused by AI and machine learning. What is it, really? How does it work? What…
Why must we discuss AI in marketing? What’s so wrong with marketing today that we need the incredible powers of artificial intelligence and machine learning to solve? You’ve likely heard the cliché, “fast, cheap, good. Choose any two.” The premise is that we can have two out of three of these attributes, but we can’t…
Marketers and business folks love the expression, “Data is the new oil”, and I find it apt. Like oil, data has incredible potential to change and transform business. The energy surplus of the last century was powered mainly by oil, in the sense that oil vastly amplified the amount of work our species does. There’s…
One of the fulfilled promises of artificial intelligence and machine learning is that these technologies make Big Data manageable. Big Data – the billions or trillions of records published daily – is beyond the scope of what humans can process. We would run out of lifetime before we read all the tweets, texts, and posts…
While we tend to think of the web and social media as the most data-rich digital marketing channels to apply predictive analytics to, every channel, every discipline, every strategy benefits from predictive analytics. Consider the workhorse of digital marketing, email marketing. Email marketing has long held the crown of maximum ROI, with figures such as…
Artificial intelligence will impact every industry, every profession. In some cases, rather than replacing people, it will change how people do their jobs. Let’s examine the average retail interaction today. The Current In-Store Retail Marketing Experience At any average retail store, we walk in and are greeted – sometimes enthusiastically – by someone who doesn’t…
