One of the authors, Richard Thaler, is a Big Deal in the Behavioral
Economics field. He is co-author (with Cass Sunstein) of the
well-received book "Nudge" dealing with that set of issues.
http://www.amazon.com/Nudge-Improving-Decisions-Health-Happiness/dp/014311526X
I hadn't consciously been thinking of that line of work when I
started down my thread of wondering whether either tracking or VRM
would be able to help consumers make good choices, but the
connection seems very clear.
Getting Thaler to ponder, embrace, etc. VRM would be Huge.
Has anyone onlist met him? Doc?
Chris S.
On 3/22/2013 11:15 AM, Neesha
Mirchandani wrote:
" type="cite">
Hi all,
I just saw this from Forrester --- consumers leveraging big
data for decision making. Thought it may be useful to connect
with the authors of the HBR study and this Forrester analyst to
get the whole article and research study for the VRM group.
"Choice Engine" may be a better way for consumers to wrap
their heads around the idea of a Personal Data Store (and
Analytics Tool). There's a value proposition there for regular
folks (not just the privacy-minded who are a minority), because
it's not just a repository, but a decision-support tool. A
Magic 8 ball that is more efficient than knows me and better
than me doing all the (re)search! Wow. There's an element of
fun, surprise, and efficiency. I can see techies jump on board
just to test the algorithms and then see the early adopters
encourage family members to try it out.
However, it's not easy to build an analytics platform that
has all this predictive modeling built in, and we'd probably
need to start with a vertical, then expand to other spaces.
The first one that comes to mind is health care because if
you are diagnosed with cancer, you're at the mercy of one expert
doctor (or two, if you get a second opinion) and yet, you wonder
if you're missing some data that could improve your odds. You
feel a bit powerless and it would be so reassuring to know that
your Choice Engine has accessed all the clinic evidence out
there and checked if there are any other options available for
you to consider. A family member has Stage 3/4 Colon Cancer so
we ran into this scenario recently.
If anyone has access to these reports/articles, I would love
to know more.
- Neesha
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Is your
company preparing for discovery marketing? Posted: 21
Mar 2013 12:39 PM PDT
Much of my research agenda focuses on the notion
that consumers now discover brands across
myriad channels - not
just search engines. That's right -
acquisition is happening in places other than on
traditional search engines. Forrester calls the
strategies for positioning a brand or products
within a user's discovery path, "discovery
marketing." Some companies employ cross-channel acquisition
strategies, but we've not seen many examples of
firms that are adjusting their search marketing
strategies to accommodate this notion of discovery
marketing. What about you? Does the notion of discovery
marketing make sense to you? How well prepared for
it is your firm? What does the advent of discovery
marketing mean for your company? How will discovery
marketing change your current approach to search
marketing. I'd love you to share your thoughts about
discovery marketing here or through ongoing direct
dialog.
" style="color:
rgb(0, 0, 153); font-weight: bold;
text-decoration: none; ">Drop me a line if you
want to talk! Stay tuned for more discovery marketing research!
Read more
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Discovery
Marketing -- Helping Brands "Get Found" Posted: 21
Mar 2013 12:35 PM PDT
The boom of the cheap and trendy bus service that
links our cities together is old news to most of us
East Coasters. You can't bring up the BoltBus in a
New York City office without inadvertently starting
a lively Bolt/Mega debate. Everyone has opinions and
these opinions - qualitative bits of data - are
often what we're relegated to evaluate before we
choose. Based on the opinions of friends whose
tastes are most in line with mine, I chose to take
the Bolt Bus to Washington D.C., on which I now sit. But what if this little heuristic of relying on the
opinions of my likeminded chums leads me astray?
Well, I could eliminate the risk of a bad decision
by researching extensively. The research would
involve screening potential advisers on myriad
criteria for my travel preferences and general
expectations. Thorough? Sure! Data-informed?
Absolutely. Efficient? Not in the least. In the January-February edition of the Harvard
Business Review, Richard H. Thaler and Will Tucker
explore this idea of data-driven decision making
from the consumer side. The authors predict that the
movement towards "Smart Disclosure" (i.e. "the
timely release of complex information and data in
standardized, machine-readable formats in ways that
enable consumers to make informed decisions") will
have profound effects on policy, economy, and
businesses. Incidentally, this movement will enable
consumers and business alike to make better-informed
decisions that are not only thorough and
data-informed, but also are efficient. Based on
their hypothesis, the authors anticipate the rise of
the choice engine, a platform that will store
consumer's personal data and spew recommendations
that are based specifically on the data the consumer
provides.
Read
more
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http://blogs.forrester.com/elizabeth_komar/13-03-21-discovery_marketing_helping_brands_get_found