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Digital algorithms

  • The use of algorithms to support business decisions is increasingly becoming a common practice. Let's go into detail on the subject.

Digital algorithms

The digital world is increasingly turning to the search for optimal performance to guarantee perfect results and KPIs by introducing continuous and sophisticated solutions. Technology has become a commodity and the real challenge today is to understand how to decline digital opportunities in your business model.

On the other hand, there are brands, companies that are increasingly demanding decision support tools, having within their own limited statistical data analysis skills, they rely on tools such as Watson, Einstein, Sensei and Leonardo from technology vendors of marketing.

But there is still a lot of work to be done and the R & D and M & A investments of many of the data and integration technology companies suggest that there is a lot of work to be done to make the marketing vision stand alone. After all, data is the fuel needed for any AI-driven system.

We believe that the underlying problem is not having to stop at the concept of the algorithm invented by Mr X or Mr Y who does everything, to take for good any pre-packaged activities or analyzes. A statistical data analysis tool can certainly help but it is essential to have within it a team of experts of true data scientists who from time to time complete and adjust the shot.

In any case, our advice is always to try and go inside to see the concept of algorithm and possibly bring the necessary analytical skills on board. I have often heard from the different vendors I have met: it is quiet that decides the whole algorithm. This cannot be an acceptable answer; you need to have the courage to go into detail how to understand the structure of the algorithm, the parameters considered, the possibility of any customization based on your business model, the timing considered in the analysis etc. etc.

Recently we were invited to a Sales Force conference and I was amazed by a question asked by the huge audience: Who among you has a Data Scientist structure?

Faced with the few hands raised the answer was: Quiet for you we have the solution that will solve your gap is called Einstein that thanks to a sophisticated algorithm will facilitate your analysis and your work. In the case of the algorithm's operative mechanism, in this case too, no details were given but only what could be obtained was discussed ....

Gartner's recent survey of multi-channel marketing profitability also found that marketing leaders overestimated their ability to promote data-driven real-time marketing.

The path still to be taken by the technology providers of marketing solutions is still long to complete. At the same time, we believe that companies in an increasingly complex market scenario to dominate, cannot delegate to the algorithms or presumed such the strategic business choices but must try to bring on board and develop the necessary skills of autonomous analysis.

E-Business Consulting is a marketing agency active since 2003 focused on acquiring and managing customers with services dedicated to the world of CRM, omnichannel and data analysis.

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