JUL 13, 2009 8:00am ET

Web Seminars

How Customer Analytics Can Lower Costs and Raise Revenue
July 29, 2014
Improve Omni-channel Shopping Experience with Product Information Management
August 21, 2014

Economics and BI, Part 2

Print
Reprints
Email

I attended a very interesting keynote address at Predictive Analytics World in San Francisco, February 2009, entitled The Unrealized Power of Data by Andreas Weigend, former Chief Scientist of Amazon.com. As noted in an earlier blog, Weigend's a big proponent of applying scientific principals to facilitate business learning. He's also keen on social or viral marketing, the end goal of which is to evolve CRM to CMR – customer managed relationships. When asked at the end of his talk to recommend a source for BI inspiration, Weigend didn't hesitate, touting Dan Ariely's best-selling book on behavioral economics: Predictably Irrational, The Hidden Forces That Shape Our Decisions. Weigend also enthused on the possibilities of predictably irrational meeting social data in a blog opinion

Get access to this article and thousands more...

All Information Management articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to:

  • Full access to information-management.com including all searchable archived content
  • Exclusive E-Newsletters delivering the latest headlines to your inbox
  • Access to White Papers, Web Seminars, and Blog Discussions
  • Discounts to upcoming conferences & events
  • Uninterrupted access to all sponsored content, and MORE!

Already Registered?

Filed under:

Advertisement

Comments (2)
Great post. The behavioral economics has been providing important guidelines for the implementation of BI nowadays.
Posted by Eliseu C | Tuesday, July 14 2009 at 9:57AM ET
There always seems to be a combination of rational and irrational thinking - and economics does assume rationality in the extreme. Interesting the muttering one hears these days about the recession - and whether the press has been fanning the flames by presenting many of the tougher-case stories. And also, the clear evidence that folks with solid jobs, solid savings and good incomes jumped on the recession bandwagon and slowed spending considerably when they hadn't a real need to... There's also the question as to whether what seems irrational just misses looking at the right set of data points too?
Posted by Marcia E | Monday, July 20 2009 at 10:21AM ET
Add Your Comments:
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Twitter
Facebook
LinkedIn
Login  |  My Account  |  White Papers  |  Web Seminars  |  Events |  Newsletters |  eBooks
FOLLOW US
Please note you must now log in with your email address and password.