tag:blogger.com,1999:blog-69347233767023986922011-04-21T16:15:51.411-07:00What marketing should do to understand the marketplace, make good marketing decisions, and deliver lifetime value for your company.cozcoolmarketinghttp://www.blogger.com/profile/14739807865908459523noreply@blogger.comBlogger11100tag:blogger.com,1999:blog-6934723376702398692.post-7097436649299897452008-03-07T12:25:00.000-08:002008-03-07T13:10:38.062-08:00I the early 1990's when one of my textbooks was in review, the editors changed all of the references to data and information to one -what they thought was a simplifying word - INFORMATION. Data is truly not information in the business decision world. Data is collected for the purpose of making a decision. It does not contribute to decision making until it is converted to DECISION INFORMATION using tools and technologies. For example, let's take a look at blogs. There is a mass of verbal data in blogs. When we systhesize this text data using symantic analysis and the blog tools/techonology available for the purpose of making a decision, the data is then converted to decision making information. What really makes up the difference between data and information is the decision maker - who challenges the data to reveal decision making information. So, if you are using Marketing Research to aid in decision making- ask to see the DATA, ask where the DATA has come from, and look very carefully at the simple clarifications of the data, like symantic richness/classifications, and meanings if it is text AND counts, percentages, and means/SDs if it has numbers involved.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/6934723376702398692-709743664929989745?l=cozonmarketing1.blogspot.com' alt='' /></div>cozcoolmarketinghttp://www.blogger.com/profile/14739807865908459523noreply@blogger.com0