Why You Aren't Getting More from Your Marketing AI

Name: Why You Aren't Getting More from Your Marketing AI (English version)
SKU: S21042

Ascarza, Eva; Ross, Michael; Hardie, Bruce G.S.

Product #:S21042

Supplier:Harvard Business Impact

Discipline:Marketing

Details:Article (PDF) • 8 pages • 2021-07-01

Subjects:

Cross-functional management Data management Decision making Information systems Marketing Marketing management Predictive analytics Problem solving Management Analytics and data science Decision making and problem solving Technology and analytics Sales and marketing Sales and marketing Marketing

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Fewer than 40% of companies that invest in AI see gains from it, usually because of one or more of these errors: (1) They don't ask the right question, and end up directing AI to solve the wrong problem. (2) They don't recognize the differences between the value of being right and the costs of being wrong, and assume all prediction mistakes are equivalent. (3) They don't leverage AI's ability to make far more frequent and granular decisions, and keep following their old practices. If marketers and data science teams communicate better and take steps to avoid these pitfalls, they'll get much higher returns on their AI efforts.