The number of vendors offering marketing tech is exploding, but too many companies take a “bottom-up” approach to purchasing it: Rather than starting with the objective of solving a problem, they begin with what is being sold to them. As a result they waste money on hoarding data they don’t need and on “shiny new objects”—tools that seem dazzling but don’t provide real insights or…
Fewer than 40% of companies that invest in AI see gains from it, usually because of one or more of these errors: (1) They don’t ask the right question, and end up directing AI to solve the wrong problem. (2) They don’t recognize the differences between the value of being right and the costs of being wrong, and assume all prediction mistakes are equivalent. (3) They don’t leverage AI’s a…