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AP in the News: Ditch the Crystal Ball and Scenario Plan for Future Success

July 31, 2020


As seen on advertisingweek360.com:

 

In virtual boardrooms across the globe, CMOs are attempting to drive sales in a COVID-19-hit world. If only there had been a crystal ball to help predict these unpredictable times. But as humans are hardwired to be unrealistically optimistic and prone to ignoring evidence that doesn’t fit with our world view – our inherent optimism bias – would a glimpse into the future have really made any difference?

 

Crystal balls may be known for mythical answers, but the ability to plan for and be ready to flex to meet the unthinkable head-on is very real. We can now access data in real-time and use agile-learning tools to adapt and change plans as they happen. Rather than trying to predict the future, smart business leaders use this real-time and historic data to make plausible forecasts about possible futures.

 

And the smart leader that can rewire their marketing plans from inherent optimism and gut feel to a data-driven accurate vision or visions of the future can expect to see big results.

 

Read the full article by Associate Vice President Kevin O'Farrell on AW360.

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