4. Too much on gut
Only 11% customer related
decisions are made based on
data.
5. More than half of marketers make decisions
based on their previous experience or their
intuition about customers
Data is put last on the list.
6. In Today’s volatile market, decisions based on
intuitions is increasingly unreliable.
With consumer behaviour's in flux, once-valid
assumptions can quickly become outdated.
7. Struggle with Statistics
In a test(5 questions) conducted amongst
marketers the results were shocking –
44% got 4 or more wrong
Only 6% got all right
Hence not surprising that only 5% marketers
make decisions based on data.
8. Dangerous distractions by Data
Some marketers just cant get over their
obsession of data.
They daily visit their dashboards to make
decisions.
These marketers are called connectors
9. But most of these data savvy marketers are
underperformers.
It is due to the fact that most of them are not
statistically competent
Or don’t have the required judgement to use
the data effectively
10. Big havoc for managers
Change decisions way too quickly and hence
create a uneasy environment for managers.
Worse many marketers are encouraged for
this kind of behavior.
11. Focus on goal and filter noise
Profilers have 3 qualities
1. Comfort with ambiguity
2. Ability to ask strategic questions
3. Focus on higher order goals
4. These help them in filtering noise and focus
on only important insights.
12. Managers in India
Should have a proper balance of both gut
based and data based decisions.
Should be statistically competent to analyse
data and see the results.
Focus only on results and not small changes
on the way
13. Teach marketers to put data first in decision
making
Sensitize them to common data interpretation
mistakes.
These points can lead to exemplary results.
