The 4th and 5th Marketing Revolutions_Data Scientist Age and Bayesian Paradox !

1. « The Quaternary Marketing »
The 4th and 5th Marketing Revolutions:
Data Scientist Age and Bayesian Paradox !
Paris, 29th may 2012 Bruno TEBOUL

2. The author: Bruno Teboul
Corporate Digital Marketing Director
(The european leader in ICT)
Master of Epistemology
(1993 - University of Paris 12)
Post Graduate Diploma in Cognitive Neurosciences
(1994 - Ecole Polytechnique)
Executive MBA
(2003 - HEC/UCLA)
PhD student in Marketing & Management Science
(2012 University Paris-Dauphine)
Bruno Teboul

3. The 4th marketing revolution:
Data Scientist Age…
Bruno Teboul

4. The 4th marketing revolution:
Data Scientist Age…
« The BIG DATA »:
Bruno Teboul

5. The 4th marketing revolution:
Data Scientist Age…
« The BIG DATA »:
Bruno Teboul

6. The 4th marketing revolution:
Data Scientist Age…
« BIG DATA »:
In a new paper titled, " Closing the Marketing
Capabilities Gap," Wharton School professor George
Day addresses the disconnect between the demands of
markets and the ability of firms to meet those demands.
Such a gap, he points out, is "costing firms profitability
now and competitiveness in the future."
Using Day's paper -- and also a new IBM study based
on conversations with 1,700 chief marketing officers
worldwide -- Day and colleague David Reibstein talked
with Knowledge@Wharton about the growing flood of
data, new knowledge sharing technology, the socially
networked and ever demanding consumer, and how
some companies are successfully building their
customer base, among other topics.
Bruno Teboul

7. The 4th marketing revolution:
Data Scientist Age…
« BIG DATA »
Unfortunately, older data processing
technologies (such as Relational Database
Management Systems, or RDBMS) are
simply not capable of processing data in
volumes that the industry has collectively
coined “Big Data” volumes that are in
terabytes/petabytes.
As such, we position the consumer as the
only real appreciating asset and we tie
everything together through the use of
Big Data. Bruno Teboul

8. The 4th marketing revolution:
The Data Scientist Age…
Data enables us to understand customers and to manage contact
and content strategy. Data is a core component of integrated
marketing and, via an integrated approach, we can speak with a
single voice across channels and lines of businesses.
However, to succeed in a meaningful way at that level of
customer centricity, we have to manage all that data in a way that
holistically fuels customer engagement and experience. That
effort requires a whole ecosystem of people, processes, and
technology.
Even the most sophisticated and modern businesses today are
surprisingly ill equipped to manage even the most basic digital
marketing standards and activities, let alone jettison forward into
the new world of Big Data techniques. Bruno Teboul

9. The 4th marketing revolution:
Data Scientist Age…
A data scientist represents an
evolution from the business or data
analyst role.
Anjul Bhambhri, vice president of
big data products at IBM, says, “A
data scientist is somebody who is
inquisitive, who can stare at data
and spot trends. It's almost like a
Renaissance individual who really
wants to learn and bring change to
an organization.”
A Data Scientist need to have the
mathematics, statistics, and
computer science skills in order to
really work with data and be able to
analyze it…
Bruno Teboul

10. The 4th marketing revolution:
The Data Scientist Age…
Bruno Teboul

11. The 5th marketing revolution:
The Bayesian paradox…
Bruno Teboul

12. The 5th marketing revolution:
« The bayesian paradox »…
“The Bayesian Paradox”:
Human beings are not Bayesian, as it is necessary to
use the power of Bayesian computation (through the
language R ) such probabilistic modeling for predictive
analysis.
Bruno Teboul

13. The 5th marketing revolution:
« The bayesian paradox »…
Bruno Teboul

14. The 5th marketing revolution:
The Bayesian paradox…
Daniel Kahneman Amos Tversky
Intuitive statistical judgment and inference have
been most famously studied within the heuristics
and biases tradition of Amos Tversky and Daniel
Kahneman .
The idea is that people assess uncertainty by use
of simple heuristics that are often effective but can
lead to cognitive biases. Bruno Teboul

15. Bruno Teboul

16. The 5th marketing revolution:
The Bayesian paradox…
End of the Homo
Economicus Myth !
Bruno Teboul

17. John Maynard Keynes Herbert Simon Pierre Boudieu Ludwig Von Mises
The 5th marketing revolution:
The Bayesian paradox…
Bruno Teboul

18. The 5th marketing revolution:
The bayesian paradox…
Therefore, the judgment can not be perfectly
predicted by the standard Bayesian.
The hypothesis of a "man statistician" in nature no
longer holds and the effects of this scientific
statement are serious consequences for the basic
tenets of traditional marketing.
It is both notable and regrettable that the 13th
edition of Marketing Management by Philip Kotler
dedicates only a single page "with heuristics"
whereas 800 pages are dedicated to the
discoveries of the psychology of reasoning and
cognitive neuroscience, which refute the theory of
"homo economicus“, the conceptual basis of
traditional marketing, the legacy of the
microeconomics of the same period.
Bruno Teboul

19. The 5th marketing
revolution:
The bayesian paradox…
Bruno Teboul

20. The 5th marketing revolution:
The bayesian paradox…
Bruno Teboul