CMA Analytics Council 'food for thought'

Everyone’s busy. We get it. And that's why CMA’s Insights Council has created a “Food for Thought” monthly blog series. We’ll provide links to a highly curated set of thought-provoking articles, posts and blogs on topics related to leveraging data and analytics to drive your business decisions. This will allow you to spend less time searching and more time thinking.

Advertisers are looking inside your brain: Neuromarketing is here and it knows what you want (Financial Post) -- Interesting article on advertisers using neuroscience in the ever-escalating arms race of trying to leverage data and science to make better business decisions. The author suggests this approach eliminates many of the traditional biases associated with gathering consumer feedback. However, I wonder what kind of bias is being created when basing results on those consumers willing to strap themselves up to an EEG brain scanner vs. the average person sitting on their couch at home?  -- Shared by Paul Tyndall - Director, Client Knowledge & Insights, RBC

Do Marketers Act on Data Insights? (eMarketer) -- Today, there is an expectation by consumers that the data they provide will be used to optimize the customer experience. This article shines the light on the fact that marketers continue to struggle to make improvements to the customer experience based on data insight. --  Shared by Angele Levesque - President, RIVET & FCB Health

Big Data is not Enough (CommPRO) -- “There’s a big, gaping hole in the way we look at marketing and media. Not only throughout the years before the Internet came along, but even today with all the technological advances and access to big data we still are missing lots of answers. Just big data is not the answer. It really depends on what you do with it. And what you must do with it is provide deeper insights before the marketing process begins.” -- Shared by Jan Kestle - President, Environics Analytics

Thinking big data for marketing? Get small data right first (cmo.com || Australia) -- When it comes to leveraging data and analytics for marketing purposes, don’t get sidetracked or overwhelmed by the prospect of tackling Big Data. You’re much better off trying to walk before you run by looking at the small data that you already have on your customers and acting on that information, one step at a time. Think “continuous optimization” rather than “silver bullet.” --  Shared by Evan Wood - President, Pivotal Contact

Putting Yourself in the Customer’s Shoes Doesn’t Work (Harvard Business Review) -- There’s a lot of literature that says we should focus on customers and put ourselves in their shoes….the authors of this research question this entire idea, and found this could backfire on the goal of knowing what really the customers want. -- Shared by Elias Hadaya - Supporter Insight Director, World Vision Canada