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predictive analytics

  • Article

NYCU: Futurology is a Risky Business

Revisiting past predictions often reveals more about the past than the future. In a New York Times DealBook about, "the trends that will shape the coming decades," John Herrman takes a skeptical view of futurology. Reviewing predictions from 1982 he finds that most were wrong and that, "...the predictions said less about the future than about what sorts of stories people wanted to hear, and tell, in the present." He concludes that futurists' predictions are often focused on, "ripped-from-the-headlines issues," and often function like investment advice.

Source: Herrman, J. (2021, November 28). A Short History Of Predicting The Future. DealBook/Business & Policy, The New York Times.

Note: Only New York Times subscribers can read the full article.

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Forecasting Post-Pandemic Business Recovery

  • DATAxSCIENCE

At ARF’s DATAxSCIENCE 2021, experts in forecasting and scenario planning presented the latest research and insights on understanding which changes in consumer behavior and attitudes will help shape the post-pandemic recovery. They also shared examples of different research methods and models to tap into these signals. Enjoy this recap of our DATAxSCIENCE 2021 event. Key takeaways, the full event video, and presentations are available for ARF members: If you are interested in becoming a corporate member, please contact New-Member-Info@thearf.org. LOGIN TO ACCESS

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  • Article

NYCU: The Promise of AI for Marketing

“AI is going to be a game changer in every aspect of marketing,” writes Raja Rajamannar, Chief Marketing and Communications Officer and President of Healthcare Business at Mastercard. “If they don’t understand the way it works and the possibilities it can bring, they will be missing the boat. AI will never replace marketers. But marketers who resist it will be replaced by those who understand its power.” Let’s consider AI in a marketing context. Mimicking and automating human behavior is like having a marketer with the brain power of a superhero. The notion of learning, improving and adapting puts an emphasis on future behaviors, not historical models. What’s the net effect? Imagine having millions of friends and being able to predict with a high degree of accuracy their buying behavior in new purchasing scenarios. This is the promise of AI and the start of a company’s ambitious journey to becoming a customer-intuitive enterprise. Isn’t this the future of marketing? AI has the potential to greatly impact campaign planning, media buying, targeting, personalization and other critical marketing functions. It might soon be able to create content, including advertisements, without the involvement of human marketers. Rajamannar says some AI solutions can already estimate ROI in advance of a campaign or promo — a step towards AI helping to solve marketing’s problem of business-outcome attribution. “From learning about consumers deeply to enabling hyper-personalization to optimizing programs on the fly, AI can hugely enhance marketing effectiveness and efficiency,” Rajamannar writes in his book. “At this stage of the evolution of AI in the context of marketing, it is important for marketers to get their head around it.” Source: Kaneshige, T. (2021, February 24). Are You Mastering AI? Or Will AI Master You? CMO COUNCIL.  

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How Marketers Use AI to Navigate the Consumer Journey

  • Jan Kietzmann, Jeannette Paschen, and Emily Treen
  • JOURNAL OF ADVERTISING RESEARCH

As the consumer journey becomes increasingly complex, many marketers are turning to artificial intelligence to decipher it. But how does it actually help them be more effective at understanding and reaching consumers at different stages? A trio of academics explained how AI is transforming advertising.  

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How Data Science Is Upending the Ad Profession

  • John Deighton, Harvard Business School
  • JOURNAL OF ADVERTISING RESEARCH

What constitutes today’s “Mad Men” (or Women)? Clearly, data-driven marketing communications and customer management have changed the ad profession. But in the future who’s going to do the actual work of marketing, and which institutions will dominate? Harvard’s John Deighton dissects a media world dominated by the Internet’s “walled gardens,” IT consultants, and unrecognizable ad firms.

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Get the Intel on Artificial Intelligence

Some say Artificial Intelligence is a broad field that includes everything from simple if-then rules for playing Checkers to complex ensembles of deep neural networks for piloting autonomous vehicles. In marketing, AI is a term that is applied to several very different techniques and functions. However, the bigger questions are: how do you best implement AI and what are the commercial solutions?

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  • Article

Get the Intel on Artificial Intelligence

Some say Artificial Intelligence is a broad field that includes everything from simple if-then rules for playing Checkers to complex ensembles of deep neural networks for piloting autonomous vehicles. In marketing, AI is a term that is applied to several very different techniques and functions. However, the bigger questions are: how do you best implement AI and what are the commercial solutions?  Read More.