Wordsworth & Company
  • Home
  • Approach
    • Defining
    • Differentiating
    • Creating >
      • Creating... in detail
      • Content
    • Integrating
    • Stretching
    • Maintaining
  • Successes
    • Ads
    • Broadcast
    • Direct
    • Web
  • Contact
  • About
    • Blog
    • Clients
thoughts that come
out of our minds

Big Data for Marketers Who Don't Know What They Don't Know

7/13/2015

0 Comments

 
Picture
There was a discussion on LinkedIn in June 2015 that asked about the use of Big Data in retailing. The comments focused on detecting real time trends, analyzing purchasing behavior, and using historical activity to gauge the viability of upcoming strategies. It was short-sighted. Big Data was being used to ensure consistent or incremental revenue and profitability, but it wasn’t being used to detect breakthrough opportunities that could radically improve a company’s fortunes.

Commenters ignored a critical Big Data capability that can reveal the unknowns reflected in a diagram called the Johari Window. The window, named for two psychologists named Joseph Luft and Harrington Ingham, was originally designed to define relationships between oneself and others, but it’s extremely appropriate for marketers, as well.

THE PROMISE OF THE UNKNOWN
The Johari Window has four quadrants –
  • What’s known to oneself and to others.
  • What’s known to oneself but unknown to others.
  • What’s unknown to oneself but known to others.
  • What’s unknown to oneself and to others.
In the marketing version, the quadrants are labeled, respectively, Open, Hidden, Blind, and Unknown.

In a hardware environment, everyone knows there’s a market for hammers and nails, but consumers may not recognize the hidden advantages of a hammer with a larger head that reduces the number of missed blows and bruised fingers. Likewise, a retailer may be blind to the fact that customers are using pliers to hold nails in place, missing the opportunity to stock, promote, and sell a device that’s designed for that task.

For marketers and the product developers who lean on marketing research, however, the last, i.e. Unknown, quadrant holds the greatest potential, and Big Data can exploit it.

​READ MORE


0 Comments

    Author

    We don't make things irresistible in a vacuum. We follow the same advice that we give to our clients.

    Archives

    February 2021
    June 2018
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    July 2015
    June 2015
    May 2015
    April 2015
    February 2015
    January 2015
    December 2014
    November 2014
    January 2014
    July 2013
    April 2010

    Categories

    All

    RSS Feed

Wordsworth Logo
Copyright   ©2016, 2020    Wordsworth & Company
All rights reserved  |  Santa Monica, California
info@wordsworthandco.com    310.452.1022

  • Home
  • Approach
    • Defining
    • Differentiating
    • Creating >
      • Creating... in detail
      • Content
    • Integrating
    • Stretching
    • Maintaining
  • Successes
    • Ads
    • Broadcast
    • Direct
    • Web
  • Contact
  • About
    • Blog
    • Clients