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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s