Big Data Algorithms Are Manipulating US
Now big data algorithms are manipulating us; they know exactly what we want and what buttons to push!
In the world of business we have strived for efficiency for many years, we have strived to reduce costs, reduce man hours, create 24 hour production lines to reduce fixed overheads and create more profits.
Big data algorithms are manipulating us
AI powered ‘big data’ analysis has enabled all sorts of innovations, from finding netflix films and more importantly reducing crime rates by analysing photographs and video images for finding criminals (based on prior human behavioural patters) or searching for missing people. In the marketing world AI and big data is subsequently used to provide us with offers and to build the often ‘fickle’, shallow relationships that are also usually price sensitive. In a lot of cases marketers spend a huge amount of money for us to jump ship to another brand for a special offer or upgrade to a product that provides improved features, faster delivery times and better payment terms.
We as consumers want everything faster, cheaper, better and expect to find these goods and services within a click of a button or two. Being reduced to frustration by advertising giants like Facebook who we think should be providing us with great content for ‘free’ so we can engage with our friends and get an endorphin fix to engage us..
Some talk about marketing changing so much and how we can’t possibly compete with the new ‘digital marketing ecosystem’ they talk about digital platforms and tools that will do everything you need to do for maximizing ROI, but without putting in place the correct metrics to track in the first place what is the point.
Often hearing stories of businesses spending £20 per click on Google AdWords we struggle to grasp the fact that business is in many cases still built by word of mouth and integrating this into your marketing strategy is crucial.
We should not forget there was data analysis before big data and there was marketing before the internet, there was word of mouth, there were billboards and advertising in the local newspaper. Yes digital marketing gives us the ability to build relationships in different and sometimes more intimate ways and to contact pretty much anyone at any time.
We can now gather big data faster, we can analyse it faster and take actions to improve results. But big data algorithms are manipulating us, there is too much money at stake to not go through with the AI revenues that are generated!
The major problem is that a lot of people actually don’t care, they don’t want to connect with their brand of toothpaste online, all they want is to buy the same ‘functional’ brand and then tell their friends how good it is if asked, sometimes they may become advocates but generally they just buy the brand quietly and enjoy what it has to offer.
I agree totally with the paragraph below from Wired nothing has changed except these two fundamentals, more data, faster data and faster data analysis
In 1954, Darrell Huff wrote a neat little book called How To Lie With Statistics, a how-to guide for marketers to mislead and manipulate people into believing just about anything with the right graphic and the well-placed stat. Computationally speaking, we’ve come a long way since 1954, but in one important way nothing has changed. There’s enormous opportunity for manipulation in big data, and we need to remain skeptical and vigilant.
THE AGE OF Big Data has generated new tools and ideas on an enormous scale, with applications spreading from marketing to Wall Street, human resources, college admissions, and insurance. At the same time, Big Data has opened opportunities for a whole new class of professional gamers and manipulators, who take advantage of people using the power of statistics.
Source: Opinion: Big-Data Algorithms Are Manipulating Us All | WIRED