Marketing Analytics: Data Products 4 AI – AMA
The one question we are routinely asked is “What can I do to boost the success of my Artificial Intelligence team?” Companies have created dedicated units, appointed digital officers, recruited generously, spent top dollars on labs and supercomputers. Now, Nvidia GPUs are blinking, free Club-Mate drinks are flowing, dogs are roaming the office … yet results remain meager.
One answer is to address the core problem of data analytics: too much time spent on refining raw data into AI-ready data. According to numerous published reports – and our own surveys – more than 80% of the time is spent on data, only 20% on analytics results. This is turning the 80/20 Pareto principle, a cornerstone of business efficiency, upside down.
How to fix it? One solution that can be implemented quickly without CAPEX is product management … (the other one is building a Data Factory, which takes longer).
Crosby, L., and C. Schlueter Langdon. 2019. Data is a Product – Managers who conceptualize data as a product can maximize its multi-functional potential. Marketing News, American Marketing Association (April 24), https://www.ama.org/marketing-news/data-is-a-product/