Gem of the Day: When Forecasting Pay Attention to Outliers

gemWhen forecasting in marketing, pay attention to dissent, especially when common knowledge or popular opinion says otherwise. More than a few CEOs and economists predicted the credit bubble of 2008 bursting in a big way and were mocked.

When you see opposing positions openly ridiculed, it’s time to consider the possibilities of those positions. If we believe that marketing has a role and responsibility in helping our companies develop sound, strong and robust business strategies, then we owe it to ourselves and our companies to pay attention to outliers.


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