The field of big data has given us the tremendous capacity to calculate risks and capitalize on trends, but you should still always be wary of running into the ghost of what you don’t know. The predictive fallacy in humans may be well-intentioned but ultimately misinformed due to “information overload.”
As more data comes into play and changes the landscape of discovery, any answer that has been hard-coded to data will quickly become obsolete — and just lead to new questions. In this environment, waiting weeks for analytics teams to come back with answers renders those answers useless.
As marketers we tend to think in demographics rather than of individuals. This attitude allows us to make general shifts in direction and scope, but the major challenge of big data is sifting through gigabytes of information to find the underlying trends and factors that guide the marketing of a product or service.
It’s said that you should take care not to miss the forest for the trees – but perhaps in this case, you shouldn’t miss the trees for the forest.READ MORE