
Analytics
Evidence, clarity and certainty for management action: The science underpinning decision making.
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Evidence, clarity and certainty for management action: The science underpinning decision making.
In advertising, evidence shows that creativity and human judgement are steadily giving way to statistics. The signs are all around us. Take for example the journey of media mix optimization from 40 years ago to today, with attribution modelling now undertaken exclusively by media analysts.
Survey questionnaires remain the most prevalent mode of data collection in marketing research, but has their high use resulted in diminished errors? Perhaps it is timely to revisit not the strengths – we know there are many – but the weaknesses that we should be cognisant of when analysing data collected using survey questionnaires.
When organisations are failing to operationalise the insight from Small Data, it leads me to wonder how Big Data avoids becoming another management panacea…
At Insights University 2016, we conducted a short survey to explore opinions held by marketing leaders on eminent industry trends. See what our respondents consider to be the most important sources of consumer insight now (February 2016), and in the foreseeable future.
At Insights University 2016, we conducted a short survey to explore opinions held by marketing leaders on eminent industry trends. See how respondents expect the managerial importance of NPS to change from now (February 2016), to the foreseeable future.
At Insights University 2016, we conducted a short survey to explore opinions held by marketing leaders on eminent industry trends. See what impact our respondents believe marketing science has on advertising content and message now (February 2016), and in the foreseeable future.
Advertising is facing an uncertain future, one steadily eroded by the cost-cutting activities of procurement. This is because procurement places little value on the unfulfilled promises of creative agencies, that the next campaign will deliver growth. Creative agencies need to find a new way to demonstrate and validate their ability to supply consistent, commercially effective work. The establishment of this lies not in the muse of creative inspiration, but in the development of science-driven output resulting in growth of market share, margin and category.
Snippets from Forethought on contemporary topics in marketing research. #Foretoons is a collaboration between Forethought and Either Either (creative agency) providing a satirical commentary on marketing research themes. Click on a Foretoon to comment or share.
You might have bad memories of statistics as a stodgy, boring subject you had to take at uni for a semester or two. but statistics is in constant evolution and there are many things we can do today that were simply not possible even five years ago. At Forethought we are always looking for new ways to give our clients information they can be confident of – Bayesian Analysis is one of these ways.