Posts tagged: Data Mining

The Answer is in the Data

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 Nov 2, 2011

The difficult economy is putting more pressure on marketers, challenging them to prove that the dollars they spend are delivering the best results possible. In this digital age where the volume of accessible data is increasing daily, marketers and advertisers are quickly becoming interested in the role data can play in developing marketing strategies and advertising campaigns that drive brand awareness and ultimately sales.

Even with abundant consumer and business data available today, the challenge that marketers face is to find high quality data and organize it in a way that logically drives and determines marketing actions. The old marketing paradigm was rooted in maximizing marketing spend by communicating with the largest audience at the lowest cost. Cheap e-mail blasts are the modern equivalent of this outdated strategy. The new marketing paradigm is one that leverages data to create highly targeted cross-media campaigns directed at a segmented audience with a specific message. Effectively segmenting these audiences and building marketing models that yield the strongest return on investment, however, is easier said than done. Read more »

Customer Data Mining and Psalm 139

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 Nov 7, 2008

I picked up a copy of Ian Ayres’ Super Crunchers: Why Thinking-by-Numbers is the New Way to Be Smart on my way home from Indy last night… and couldn’t put it down. The book investigates the use of data mining in business culture– from Amazon.com’s recommendations to eHarmony’s marriage-making algorithms. But most interesting to me was the book’s investigation of the ethics of data mining: will large organizations have an unfair upper hand thanks to all this super crunching? will consumers suffer as a result? or do consumers have an opportunity to turn the tables on vendor algorithms (e.g. farecast.com). Give it a read, and let me know what you think! Read more »

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