Questioning the Numbers
Every marketer should learn to question the numbers, not just quote them. For instance, if someone claimed to have the winning lottery numbers for a £40m jackpot, the first question to ask would be how they came to know these numbers.
A hypothetical example is the LottoMetron, a device that supposedly churns out winning numbers using clever mathematics. At a low cost, one might take a chance without asking many questions. However, if the cost were hundreds of thousands or millions of pounds, understanding how the machine works and the reliability of its predictions becomes crucial.
There are lies, damned lies and marketing mix modelling
This highlights the importance of critically evaluating information, especially when it comes to significant investments.
Author's summary: Marketers should critically evaluate numbers and predictions.
More News
- 7 basic science discoveries that changed the world
- Israel Responds Powerfully: Standing Strong Against Hamas Threats
- Maxim Pleshko: Lukashenko Is Only A Performer
- The 29 best Australian gins – each reviewed by Halliday taster Jess Clayfield
- Blue Jays 1 win from World Series glory after rookie Yesavage thwarts Dodgers
- China’s Coming Small Wars | Center for International Maritime Security
- The longstanding legacy of ‘Wild Goose Jack’ - Farm and Dairy
- Kiwi Plumtree to step down as Sharks head coach
- From MRI to Ozempic: breakthroughs that show why fundamental research must be protected