{"id":5000,"date":"2023-03-01T05:09:57","date_gmt":"2023-03-01T05:09:57","guid":{"rendered":"https:\/\/toovio.com\/turn-data-into-revenue\/?p=5000"},"modified":"2023-07-23T12:57:01","modified_gmt":"2023-07-23T12:57:01","slug":"insight-latency","status":"publish","type":"post","link":"https:\/\/toovio.com\/turn-data-into-revenue\/insight-latency\/","title":{"rendered":"Insight Latency"},"content":{"rendered":"\n<p>We\u2019ve been through the big data hype cycle and many of us have heard the phrase \u201cdata latency\u201d which usually refers to the speed at which data moves. But what about the speed at which data insights move? Say what??? Let\u2019s examine these steps in an illustrative process of how an insight goes from hypothesis to measurement.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/toovio.com\/wp-content\/uploads\/2023\/04\/blog_image.png\" alt=\"\" class=\"wp-image-4739\"\/><\/figure>\n\n\n\n<p>We\u2019ll go ahead and assume that most organizations want to make data-driven decisions, so at least we\u2019re on the same page that we\u2019re at least making efforts to execute a process like this. The question then is how effective are we at doing it? While this is a simple question on the surface the nuance of each step is beset with circumstances such as siloed teams, specialized skill sets, complexity of system and data integration, and so on\u2026 Each step certainly has its own quality considerations and we could probably spend days discussing the nuances. However, you could be high quality in each step and still not solve for Insight Latency. Why? The problem is speed. The speed at which we are able to progress each step matters most. This is due to underlying customer behavior changes over time.<\/p>\n\n\n\n<p>With digital transformation on an exponential rise \u201cInsight Latency\u201d is actually the problem to solve because customer behavior is able to change faster and faster.<\/p>\n\n\n\n<p>\u201ccontinuous improvement is better than delayed perfection\u201d \u2013 mark twain<\/p>\n\n\n\n<p>If we look at how our marketing technology people, processes, and infrastructure (systems and data) should function through the lens of \u201chow fast does our customer behavior change\u201d we can achieve exponential gains in response and incremental performance.<\/p>\n\n\n\n<p>Once we have our \u201cspeed benchmark\u201d then we begin to explore what intelligent machine automation can optimize (quality and speed) for each step in the process. Our mindset must be what can the machine not do? Meaning, that tasks are only able to be performed by human domain expertise. Broadly speaking, machines are not fit to \u201cask the right questions\u201d. While we\u2019re probably headed in that direction the human marketer is safe for the time being at discerning what outcomes matter to the organization and steering intelligent machines towards optimizing binary customer outcomes.<\/p>\n\n\n\n<p>One key implication of this paradigm shift is the way marketers think about campaign design. Instead of spending loads of time on if\/then rules and segmentation instead much of the details of the internal workings of the campaign are left to the machine whereas the strategic guidance necessary to kick off the design of the campaign and then the measurement methodology of the customer outcomes begin to dominate the human marketers time. This is a good thing for all parties involved\u2026 including the end customer!<\/p>\n\n\n\n<p>Finally, we favor a trigger (or event) based campaign approach for a variety of reasons. Specifically, in terms of Insight Latency, we love the speed of machine learning and the speed of measurement that trigger-based campaigns produce. In batch campaigns, the marketer\u2019s Insight Latency is fundamentally constrained first and foremost at the time-frequency at which the batch campaign runs. So, if you run a weekly campaign then your Insight Latency will never be faster than 2-3 weeks because this is the speed at which you iterate. However, trigger-based campaigns are real-time at the customer level (or near real-time) and thus you\u2019re Insight Latency is potentially less than a week or even days. Moving at this speed means that we can test more and across multiple dimensions simultaneously. Examples of testing dimensions include; Next Best Time, Next Best Channel, Next Best Message, Next Best Offer, and so on\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019ve been through the big data hype cycle and many of us have heard the phrase \u201cdata latency\u201d which usually refers to the speed at which data moves. But what about the speed at which data insights move? Say what??? Let\u2019s examine these steps in an illustrative process of how an insight goes from hypothesis [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - 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