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Spinning Straw Into Gold: An Executive Guide to the Magic of Turning Data Into Money, by John Miglautsch
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Would you like to predict the future? - especially in direct marketing. Have you built a mountainous database for a decade with little or no return on investment. Have you invested in BigData, Data Clouds and statistical analysis only to land in confusion?
Data Scientist, John shares over 17 years of data-based money-making in the most knowledgeable crucible - the Catalog Industry. His clients continuously put him to the test, know how to measure and understand results - he has won hundreds or even thousands of predictive tests. In spite of the mail-order case studies, as David Ogilvy proved, both general advertising and eCommerce can learn a lot from old-fashioned mail-order magic.
A quick easy to read executive guide.
"The Level 3 Modeling™ database is always a work in process. It always seems to be at the limits of what can be conceived. It always stretches capacity and processing power. It is not a black box, but it is a strategic advantage. It is a weapon, never quite battle proven which if successful provides the victory in marketing warfare" John Miglautsch
"For this hour, satisfied are we to proffer the mysteries of the wizard’s art. What marvel verily, if we can indeed bedevil thee to spawn gold beyond the aspirations of avarice." ...the Wizard
- Sales Rank: #940202 in eBooks
- Published on: 2012-11-01
- Released on: 2012-11-01
- Format: Kindle eBook
Most helpful customer reviews
2 of 2 people found the following review helpful.
A Golden Opportunity
By Bobby D.
John's writing is both entertaining and informative. The overall message of the book is clear: i.e. any systematic approach to data must be integrated with creative thinking to yield the often elusive goal of sales and profit growth.
Bob DiRienzo - retired retail marketing executive
1 of 1 people found the following review helpful.
Great Read for Decision Makers
By Timothy Grailer
I was truly impressed with the ease in which I made it through this informative book. The author very clearly outlines the basics of statistical analysis for direct marketers in a way that executives can digest without an intimate knowledge of big data or complex statistics.
It was refreshing for the author to stress that the most overlooked and imperative part of the process is the human element. Too many times I have worked with organizations that hand over their data and expect 'magic'. Posing the right questions and collecting the right data are the most difficult parts of the process and the author reinforces this. Once there is a clear picture, defining the variables and running the appropriate analysis is somewhat 'easy'.
A must read for all executives that are ready to dive into the world of 'big data'.
0 of 0 people found the following review helpful.
Pragmatic Perspective in Buzz-Driven World
By A. Bessin
I have long advocated the notion that great work in our industry comes from a healthy symbiosis between intuition (born from observation) and analysis. So many very bright people get caught up in deep, complex analysis without ever pulling their heads out of the sand for a look around. Recent buzz about "Big Data" reinforces that notion - it has spawned the next generation of an industry that is bent on processing massive amounts of data with the promise that the end result will be a thorough and reliable understanding of what drives consumer purchase behavior. For most, sadly, "Big Data" has caused confusion and distraction as well as expense, and has impeded moving forward.
In describing what he has done, John Miglautsch takes a very practical approach to how one can develop predictive tools for understanding consumer behavior. He describes the result of combining intuition and experience with modeling, with very positive results. I find his book very refreshing and motivating in a world where so many resources are invested in trying to develop the "perfect" predictive models using analytics alone. Much of the book was written some time ago, and the book was updated in a second edition in late 2012, however all of the concepts are as pertinent today as they were when originally written. Bravo, John!
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