Information-Driven Marketing Decisions: Development of Strategic Information Systems

Information-Driven Marketing Decisions: Development of Strategic Information Systems

Information-Driven Marketing Decisions: Development of Strategic Information Systems

Information-Driven Marketing Decisions: Development of Strategic Information Systems

Synopsis

Data have almost no value in and for themselves. What's important is how they are used to create the information one needs to make informed decisions, and this is particularly true in making marketing decisions. Thus, Samli's new book dwells on the art and science of information generation and on how to convert it to practical knowledge. Without information and knowledge, says Samli, "the firm faces great risk in the marketplace and its survival probabilities in the long run are very low." Samli explains, first, the various data generating procedures, with special emphasis on data analysis, and second, the procedures for creating information out of data -- all in a clear, systematic presentation that marketing managers will understand and benefit from immediately. Their MIS colleagues, whose goal should be to make data and information "decision-maker friendly," will also benefit. A unique, valuable book for both.

Excerpt

Modern business enterprise in the American market is not a kindergarten with computers. It must not be assumed that all the information is there and that thus, if we leave it up to the computer, all necessary decisions will be made automatically and effectively. In recent years, American businesses have performed miracles regarding database development. Indeed, database marketing has become an important concept in American marketing (Business Week 1994). Database technology is extremely advanced and very sophisticated (Jackson & Wang 1994). However, this is what is meant by kindergarten with computers. Whereas miracles are performed with data base technology, it is questionable whether the marketing decision maker is being further trained to take advantage of this technology. The people who emphasize the technology have a tendency to forget that marketing decisions cannot, and should not, be made automatically. The availability of data simply creates [a data overload,] which has almost no value solely in itself. Data receive their value through their usability by the decision maker. However, technological advances in data generation appear to be diverging away from decision makers and their specific information needs. Instead, because these technologies are advancing rather independently, a tendency is emerging in the direction of developing new technologies that may add to the problem of data overload (Doherty 1993).

Successful marketing in a market system depends on the ability to understand data in order to convert them into useful information and then use this information effectively in the decision-making process. Only properly trained decision makers can use information effectively.

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