As part of my work with IBM in the Win With AI Summit, one topic I’ve been asked to address is what technologies will impact AI strategies and rollout. Register for the IBM Win With AI Summit in NYC here. When we look at the data science lifecycle, we see that a healthy portion of…
Updated: Watch this video for more in-depth explanation of 5 different scenarios. One of the axioms of statistics is, “correlation is not causation”, meaning that just because two data variables move together in a relationship does not mean one causes the other. The most common textbook example of this axiom is that consumption of ice…
Melissa asks, as part of the IBM #WinWithAI Summit: “How can enterprises be proactive about data privacy and regulation?” Want to know why we’re having conversations about data privacy and regulation? It’s because marketing has no governance. It’s the Wild West, with CMOs buying every technology available and no one conducting the orchestra. Marketers need…
Kevin asks, “How do we standardize metrics and measurement, especially when different parts of the company do things differently?” Great and very common question. The answer is, unsurprisingly, a framework: Goal alignment Exploratory data analysis Model creation Model validation Model deployment Adoption, training, and compliance Measurement of compliance Refinement and improvement If this sounds familiar,…
Magdalena asks, “Can you share two or three good practices of using data in tracking our efforts?” Great and important question. Many marketers don’t have, for one reason or another, a solid understanding or past experience in statistics. Let’s look at a few of the most basic rules that apply, especially when we’re digging into…
Magdalena asks, “What are your favorite tools to track data and which one are you using on daily basis?” I’m a huge fan of source data, so whenever a practical API is available, I’ll use it. For social media, I use Brand24 and Crowdtangle almost daily. For owned digital, Google Analytics is my one source…
Magdalena asks, “How much should our actions depend on what the numbers and indicators show us? Is there any space for what we feel works well, even if after a month or two, the results don’t prove that?” There’s plenty of room. First, consider the data. Data must meet the 6C Framework for Useful Data:…
Magdalena asks, “What should be marketers’ main focus – numbers or creativity and innovation? Why?” The idea of asking someone to choose being qualitative or quantitative is inadvisable. People have natural aptitudes, and asking them to focus on something that isn’t their strength tends to yield mediocre results. The more important focus choice is whether…
Magdalena asks, “Can you run effective marketing without data?” Yes, you can, under certain conditions: – You lack scale, so you can talk to customers all the time and get an accurate sample of what your customers want and need – Data is not an essential ingredient to your business – You are okay with…
Mohammed asks, “Are we entering a recession? Is a recession looming?” This was also the subject of a trending topic on LinkedIn. To understand the greater economic picture, we need to look at a basket of metrics. Watch the video for my analysis of almost two dozen economic indicators. Disclosure/disclaimer: I am in no way…
