Achieving Market Awareness Through Real Time Model Adaption
This paper approaches the scientific micromarketing opportunity through initially posing the following questions that in all likelihood would present themselves to the C-level executive suite of a company considering the benefits, costs and other considerations involved in joining the scientific marketing revolution:
How can a DMRO strategy make me much better than I am today?
What is the essence of the science that powers DMRO solutions, and how do I apply the science in a practical way best suited to the particular contours of my own organization?
Achieving market awareness and real-time model adaptation
Black box solutions – where a quantitative process whose inner workings are non-transparent produces a unidirectional set of recommendations from machine to human – suffer from the limitation of failing to identify fleeting opportunities or uncover subtle nuances embedded in the demand landscape that require the unique traits of human knowledge, experience and instinct. All too often quantitative processes and qualitative human knowledge are treated as separate, incompatible approaches to marketing problems. At Sentrana, we do not believe that the “science” of scientific marketing is devoid of the qualitative human element. Rather, we believe this element can in fact be scientifically encoded into revenue optimization models and thus make those models more robust and responsive to real-time opportunities, as opposed to constrained by the limitations inherent in historical data-driven models. Market awareness comes about through a “glass box” approach in which the human agents learn from the quantitative system and vice versa.