Do The Tools Pay?

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Don’t mix up the tools and tactics with the results that you are looking for. 

The golden question of the data and tech boom is how we are going to use these tools to make money. 

Now, that is going to change and be different for every organization…but here is a good primer for thinking about how to best use your data and tech tools to generate money.

1. Think about outcomes, first: You really need to begin at the end. What is your output supposed to be?

2. Create a framework for your decision making: This is pretty simple. If you know what outcomes you are searching for, you can start putting together a framework for your decision making process. In most cases, you want to be able to define a set of criteria that allows you to say, “yes” or “no” to an action.

3. Test different data points in relation to the outcomes: We discuss A/B testing and real time data pretty often, but the real punch comes from how the messages relate to the outcomes. So do whatever testing makes sense, but tie it to the results you are looking for.

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