Posted on: Sunday 15th of January 2012
It’s one of the convenient fictions of the commercial world that businesses are full of clever, rational people making clever, rational decisions based on a hard, cold-eyed assessment of the facts.
Often, the reality is very different. People get distracted by fashions, trends and bandwagons. Their assessments of the relative importance of different factors are often faulty. Right now I can see five bandwagons which may be driven more by fashion than by importance. Each of them is fuelled by a large dose of truth/evidence. However, the way they’re currently being addressed, they actually serve to divert attention from even bigger and more important challenges.
- Big Data
- Behavioural Targeting
- Social Media
- Behavioural Economics
I’ll take a look at each one over the next few weeks.