Today we discuss how the results from the recent US Election Day betrayed the projections made from massive amounts of data.
Every day is Election Day in business
In the months leading up to the recent US election, tens of millions of dollars were spent analyzing the data to predict the outcome… and we all got it wrong! The data did not reflect the emotional state of the electorate, leading to false predictions.
We see this happening a lot in business. Data often fails to show the emotional state of our customers. And when we look at data in simple “A vs. B” terms, we underestimate the power of entire groups and segments where data was either not collected or not considered significant enough to make a difference.
Much like voters, customer sentiment can change very quickly. What customers say today is not always indicative of how they will feel tomorrow, or how they will act on these emotions. And many business leaders fall into the trap of thinking they have an advantage where sentiment appears neutral.
What else can business leaders learn from the recent election? In this episode, Adam and Jeannie share three big lessons about customer data, customer sentiment, and predictive analytics. Listen in!
Listen To This Episode!
Develop Your Customer Experience Mission
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- Customers That Stick® post, Your Data Is Only as Good as Your Perspective
- 360Connext® post, What’s Missing from your Data Insights?
- Episode 119: CXPA Live, Predictive Analytics
Take care of yourself and take care of your customers.