There is a lot of pressure on the healthcare industry to improve care results, serve customers better and reduce costs with Medicare leading the charge. And where Medicare goes, the rest of the industry follows, so we are seeing similar movement on the commercial side. Interesting enough, Medicare’s approach is to use a carrot and [...]
Marketing Insights Blog
Even in simple probabilistic games where everything is due to chance and the probabilities are well known, there is often a human element to prediction that can be used to improve the odds. A good example of this is a lottery. In a typical lottery, the player chooses 6 numbers from 1 to 49 without repetition. The lottery commission also chooses 6 numbers, and if the player’s numbers match all the numbers chosen by the lottery commission, the player wins the jackpot. If the jackpot is not won one week, it is carried over to the following week.
As humans, our behaviors are extremely erratic and complex. That’s why Predictive Analytics on human behavior is so fascinating as we are able to make sense of something that seems intangible. How does the human component play in to the notion of Chance and Luck?
Social is changing the way we do business. It’s changing our behaviors including the way we communicate, think, and act. Luckily for all of us, innovative startups are addressing this ‘social reality’. According to the article, “In Tech’s Speeding Locomotive, Enterprise is the Engine”, social technologies are being woven into business and changing how enterprises engage with customers. [...]
Satisfying consumer needs is the most fundamental aspect of marketing. To satisfy a need, you must understand and even anticipate the need. This of course enables a transaction, as well, as produces brand loyalty, resulting in future transactions.