Important Things Marketing Analysts Can Learn from Blackjack
March 25th, 2014 by Site Admin
Sameer Chopra, vice president (advanced analytics) for Orbitz Worldwide, a travel company, says that blackjack has important lessons to teach those involved in processing marketing data. He was delivering the keynote address at the Predictive Analytics World Conference, held in San Francisco. As many as 250 data analysts and scientists were present at the venue.
Making it quite clear that he is not endorsing gambling in any way, Chopra said that both card counting and predictive analytics depend on reducing risks by using available data to predict an outcome. He also spoke of the importance of changing and evolving with the industry, warning his listeners that if they don’t wake up, they will be “living with a losing strategy.”
Urging the audience to “think long term,” he said that even the perfect blackjack strategy cannot save players from losing streams. Therefore, it is important to have confidence in long-term visions.
Speaking of the importance of seizing opportunities, he said that blackjack players who take risks could double down and lose a lot of money. On the other hand, they will get a lot of money if they win. Similarly, in marketing data, it is essential to take risks and play the odds.
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