Marketing Investment Decision Analysis, LLC combines decision analysis and analytics to help clients with marketing investment decisions. The founder has a background in marketing analytics and consulting and has more recently been studying decision analysis. The company leverages both statistical marketing mix modeling and decision analysis techniques to address clients' complex marketing investment questions and pain points. Decision analysis focuses more on human judgment and identifying key uncertainties, while analytics relies more heavily on large amounts of data, but the company sees value in integrating both approaches.
Analytics is an overused term. This webinar shows how BI, web analytics, data mining and predictive analytics all have a role but all need a focus on decisions - especially operational decisions - to maximize their value. Webinar recording available here: http://decisionmanagement.omnovia.com/archives/64147
Challenges of Traditional Market Research - Neuromarketing Overview True Impact
Neuromarketing: The Future of Better Communications Today’s Market Research Challenges
Diana Lucaci, Founder & CEO
www.trueimpact.ca| True Impact | @dianalucaci
Canadian Chair, Neuromarketing Science and Business Association
“I know that half the money I spend on advertising is wasted, I just do not know which half.”
John Wanamaker (1876)
Are You a Savvy Decision Maker?
True or False
Spectacularly bad decisions get a lot of media attention, but in fact most decisions that companies make every day are sound ones.
Results: False. Research shows that 50% of all decisions managers make go wrong in one way or another.
Executives in most companies are so wary of failure that they rely heavily on decision-making methods that have been proven to work in the past.
Results: False. Nutt has found that "decision-makers are prone to using tactics with poor track records, applying them in two-thirds of their decisions.”
Adapted from Why Decisions Fail: Avoiding the Traps and Blunders that Lead to Debacles, by Paul C. Nutt.
Decision-making is complex and not always rational or practical.
Emotions are Stronger than Rationality
Decision making involves multiple areas of the brain, most of which are subconscious or emotional.
For example, the amygdala is an important structure in assigning emotional meaning, such as joy or sadness.
What Are You Really Buying?
Top 3 Challenges of Traditional Market Research
1. People will not or cannot say what they feel.
Data collected is expressive (spoken) hence subjective.
Analysis based on subjective data is anecdotal.
Top 3 Challenges of Traditional Market Research
2. Conducting traditional market research is time consuming.
Devising the right questions takes a long time.
Risk to not address business problem because the wrong questions was asked.
Top 3 Challenges of Traditional Market Research
3. Failure to apply findings to corporate environment.
Failure to think strategically.
Data providers vs strategy advisors.
Why Does it Matter?
Competitive Marketing landscape.
Impulse buying, confusion in marketplace.
Conventional marketing is disruptive.
Shift to digital, inbound marketing.
Marketing & Advertising need better tools.
De-clutter – Simplify messaging and visuals.
Differentiate – Sharp contrast against competition.
Build brands – Brands are shortcuts to reward.
Adapted from Gemma Calvert, Neurosense, Chair of Applied Neuroimaging, University of Warwick.
Future of Neuromarketing
Deloitte predicts that the marketing and advertising industry will likely have brains on the brain for 2012. (Source: Deloitte TMT Predictions 2012)
About True Impact
True Impact provides Neuromarketing research and strategy, to solve Marketing and Advertising challenges.
Learn more at www.trueimpact.ca
Analytics is an overused term. This webinar shows how BI, web analytics, data mining and predictive analytics all have a role but all need a focus on decisions - especially operational decisions - to maximize their value. Webinar recording available here: http://decisionmanagement.omnovia.com/archives/64147
Challenges of Traditional Market Research - Neuromarketing Overview True Impact
Neuromarketing: The Future of Better Communications Today’s Market Research Challenges
Diana Lucaci, Founder & CEO
www.trueimpact.ca| True Impact | @dianalucaci
Canadian Chair, Neuromarketing Science and Business Association
“I know that half the money I spend on advertising is wasted, I just do not know which half.”
John Wanamaker (1876)
Are You a Savvy Decision Maker?
True or False
Spectacularly bad decisions get a lot of media attention, but in fact most decisions that companies make every day are sound ones.
Results: False. Research shows that 50% of all decisions managers make go wrong in one way or another.
Executives in most companies are so wary of failure that they rely heavily on decision-making methods that have been proven to work in the past.
Results: False. Nutt has found that "decision-makers are prone to using tactics with poor track records, applying them in two-thirds of their decisions.”
Adapted from Why Decisions Fail: Avoiding the Traps and Blunders that Lead to Debacles, by Paul C. Nutt.
Decision-making is complex and not always rational or practical.
Emotions are Stronger than Rationality
Decision making involves multiple areas of the brain, most of which are subconscious or emotional.
For example, the amygdala is an important structure in assigning emotional meaning, such as joy or sadness.
What Are You Really Buying?
Top 3 Challenges of Traditional Market Research
1. People will not or cannot say what they feel.
Data collected is expressive (spoken) hence subjective.
Analysis based on subjective data is anecdotal.
Top 3 Challenges of Traditional Market Research
2. Conducting traditional market research is time consuming.
Devising the right questions takes a long time.
Risk to not address business problem because the wrong questions was asked.
Top 3 Challenges of Traditional Market Research
3. Failure to apply findings to corporate environment.
Failure to think strategically.
Data providers vs strategy advisors.
Why Does it Matter?
Competitive Marketing landscape.
Impulse buying, confusion in marketplace.
Conventional marketing is disruptive.
Shift to digital, inbound marketing.
Marketing & Advertising need better tools.
De-clutter – Simplify messaging and visuals.
Differentiate – Sharp contrast against competition.
Build brands – Brands are shortcuts to reward.
Adapted from Gemma Calvert, Neurosense, Chair of Applied Neuroimaging, University of Warwick.
Future of Neuromarketing
Deloitte predicts that the marketing and advertising industry will likely have brains on the brain for 2012. (Source: Deloitte TMT Predictions 2012)
About True Impact
True Impact provides Neuromarketing research and strategy, to solve Marketing and Advertising challenges.
Learn more at www.trueimpact.ca
Why Metrics Matter by Signal Media at London SaaS Meetup Maryam Mazraei
On Wednesday 27th April'16, CEO of Signal Media, David Benigson was invited to talk about 'why metrics matter' at the London SaaS Meetup. The topic discussed is informative for startups all the way to larger companies.
On Wednesday 27th April'16, CEO of Signal Media, David Benigson was invited to talk about 'why metrics matter' at the London SaaS Meetup. The topic discussed is informative for startups and SMEs to larger companies.
This is the presentation deck, of the talk given by Sanjay Mehta (Jt CEO, Social Wavelength) at the Gripel organized conference, Social Media Marketing Excellence, on Feb 11th, 2011.
The focus of the talk is around the challenges of traditional models of advertising and marketing, and how Social Media and digital technologies, are challenging the same. Also how marketers and organizations can cope with this changing world!
Black Pearl Intelligence is designed to empower you and your team to harvest, understand, prioritize and leverage business intelligence on consumer and industry perceptions of your brand, your product, the marketplace and your competitors.
La presentazione del Dottor Alessandro Mattiacci è volta a descrivere l’offerta del Gruppo Jakala, società specializzata in marketing solutions, nello studio dell’interazione consumatore-marca e nella realizzazione di progetti in attività di engagement, motivation e loyalty aventi alti ritorni.
World Gaming Executive Summit Barcelona 2012 Nick Garner
This PPT was for WGES an igaming conference in Barcelona. The theme is around Zero Moment of Truth - ZMOT and social proof online. A couple of the slides are non functional because its on slideshare :-(
Get Advertising Smart - Behavioural Economics in Advertisingemmersons1
The recent Warc Behavioural Economics in Advertising event played host to some of the great thinkers on the subject, with the intention of advising us “how best to apply behavioural economics to our advertising or marketing strategies” today. Here’s what you need to know:
How to Write a Business Plan. Focusing on high tech businesses that will be raising money. As presented to the Hawaii Inventors Clubs on July 10, 2012 by Ken Berkun.
Social Customer Service Lessons LearnedAndrew Maher
Delivered at the Call Center World in Berlin in February 2012. This is a collection of experiences made by myself and colleagues during the last 18 months while working with clients attempting to blend their social interactions with their customer service teams.
Valtech - Big Data for Marketing
Aurélie Hornoy, Digital Performance Lead, Valtech
aurelie.hornoy@valtech.fr
The benefits of data-driven marketing
Event - Big Data : de l'analytics à la créativité ...
Valtech - 29/11
Why Metrics Matter by Signal Media at London SaaS Meetup Maryam Mazraei
On Wednesday 27th April'16, CEO of Signal Media, David Benigson was invited to talk about 'why metrics matter' at the London SaaS Meetup. The topic discussed is informative for startups all the way to larger companies.
On Wednesday 27th April'16, CEO of Signal Media, David Benigson was invited to talk about 'why metrics matter' at the London SaaS Meetup. The topic discussed is informative for startups and SMEs to larger companies.
This is the presentation deck, of the talk given by Sanjay Mehta (Jt CEO, Social Wavelength) at the Gripel organized conference, Social Media Marketing Excellence, on Feb 11th, 2011.
The focus of the talk is around the challenges of traditional models of advertising and marketing, and how Social Media and digital technologies, are challenging the same. Also how marketers and organizations can cope with this changing world!
Black Pearl Intelligence is designed to empower you and your team to harvest, understand, prioritize and leverage business intelligence on consumer and industry perceptions of your brand, your product, the marketplace and your competitors.
La presentazione del Dottor Alessandro Mattiacci è volta a descrivere l’offerta del Gruppo Jakala, società specializzata in marketing solutions, nello studio dell’interazione consumatore-marca e nella realizzazione di progetti in attività di engagement, motivation e loyalty aventi alti ritorni.
World Gaming Executive Summit Barcelona 2012 Nick Garner
This PPT was for WGES an igaming conference in Barcelona. The theme is around Zero Moment of Truth - ZMOT and social proof online. A couple of the slides are non functional because its on slideshare :-(
Get Advertising Smart - Behavioural Economics in Advertisingemmersons1
The recent Warc Behavioural Economics in Advertising event played host to some of the great thinkers on the subject, with the intention of advising us “how best to apply behavioural economics to our advertising or marketing strategies” today. Here’s what you need to know:
How to Write a Business Plan. Focusing on high tech businesses that will be raising money. As presented to the Hawaii Inventors Clubs on July 10, 2012 by Ken Berkun.
Social Customer Service Lessons LearnedAndrew Maher
Delivered at the Call Center World in Berlin in February 2012. This is a collection of experiences made by myself and colleagues during the last 18 months while working with clients attempting to blend their social interactions with their customer service teams.
Valtech - Big Data for Marketing
Aurélie Hornoy, Digital Performance Lead, Valtech
aurelie.hornoy@valtech.fr
The benefits of data-driven marketing
Event - Big Data : de l'analytics à la créativité ...
Valtech - 29/11
Session discussion notes from DAAG 2015, Huntington Beach. These notes were taken from the session "Metrics Patterns" conducted by Reidar Bratvold and Somik Raha
When we hear “values,” we interpret it in three different ways: cultural norms, metrics for tradeoffs (if you happen to be a decision analyst), or distinguishing between means and ends (if you’ve read “Value-Focused Thinking”). This talk will share a fourth way of hearing the term “values,” offering an interpretation of values as “meta-strategy” by understanding intrinsic purpose. Exploring intrinsic purpose is unfamiliar territory, and stories will be shared on how such an exercise helped unlock the creative juice of an organization, gave dignity to their work and transformed their frame. Along the way, a $2 million portfolio turned into a $30 million portfolio. That story and other experiments in mapping the values of organizations will be shared. A reformulation of the six elements of decision quality along the head and heart dimensions will also be offered.
We know the impact decision making has on the success – and failure - of our organizations. As it turns out, affecting sustainable organizational change around decision quality is challenging.Drawing from project and change management fundamentals, organizational behaviour and the lessons from other disciplines and industries, we have developed a maturity model that sets long term vision, short term targets and a framework to map the journey.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
MATATAG CURRICULUM: ASSESSING THE READINESS OF ELEM. PUBLIC SCHOOL TEACHERS I...NelTorrente
In this research, it concludes that while the readiness of teachers in Caloocan City to implement the MATATAG Curriculum is generally positive, targeted efforts in professional development, resource distribution, support networks, and comprehensive preparation can address the existing gaps and ensure successful curriculum implementation.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Introduction to AI for Nonprofits with Tapp Network
John busbice v2
1. Combining Decision Analysis and Analytics
Marketing Investment Decision Analysis, LLC
John Busbice, Founder
john@mida.us.com
(804) 467-0969
2. About my perspective
• Background in marketing analytics
• 5 years as statistician in marketing and sales analysis (mostly pharma)
• 5 years consulting, utilizing marketing and sales analytics
• Relatively new to DA
• Introduced to concepts while integrating DA consultancy
• Concurrent self-study of statistical decision theory
• Sought to leverage DA for in-market and launch marketing optimization
• Now combining statistics and DA
• Founded firm that combines marketing mix modeling and DA
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved.
2
4. Surfing’s Gidget days…
Where to Surf? Surfing!
Waves
Wind
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved.
4
5. 100 ft wave!... (Garrett McNamara, January 2013 in Portugal)
5
6. Big wave surfing: Analytics in action
Big Wave
Where to Surf?
Surfing!
Surfline.com
Stormsurf.com
Surf Waves
Forecasts
Wind
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved.
6
7. Marketing’s “Gidget days”
Half the money I spend on advertising is wasted; the
trouble is I don't know which half.
John Wanamaker, (attributed)
US department store merchant (1838 - 1922)
7
8. Marketing today: MIDA uses a combination of statistics and judgment
Statistics Human Knowledge
Pattern Creative and
Strength recognition Logical reasoning
Weakness Limited by data Limited by
instinctual biases
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved. 8
9. Managers are faced with many difficult questions when making
marketing investment decisions:
Objectives: Pain points:
• Are we spending too much or too • Complexity: Multiple channels,
little? interactions, non-linear impact,
• What is the risk of missing long-term effects, uncertain
revenue targets? returns
• Are we maximizing value? … cash • Conflict: No two analyses
flow? converge, different people
• Are we building the brand? responsible for different marketing
• What is the optimal mix across efforts
sales and marketing channels?
• Cost: Marketing mix modeling and
• What should we forecast given our Big Data lead analysts to digging
sales and marketing budget?
through imperfect information for
months on end.
9
Copyright 2011, Marketing Investment Decision Analysis, LLC. All rights reserved.
10. Decision Analysis vs. Analytics: Heart of the debate about the role of
people and information.
Decision Analysis Analytics
Information Data
Probability Frequency
Machine emphasis
Human emphasis KEY
People
Decision Decision Computers
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved.
10
11. What can the Analytics worldview can learn from the Decision Analysis
worldview?
• Decision-making is a human process; people are key.
• Judgment is good and necessary; clarifying what’s in your head may
be enough.
• There’s more to decision quality than having the right model
populated with lots of data.
• Identify important uncertainties rather than statistical significance.
• Bigger is not always better.
• Discussion…
Copyright 2013, Marketing Investment Decision Analysis, LLC. All rights reserved.
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