Three things we've learnt from applying data analytics to market research
Human Made Machine Learning
1. There is no such thing as a mutant algorithm. An algorithm is just a set of instructions for a computer to follow. Yes, it's true that algorithms can learn off each other and evolve but the key issues are: who controls the algorithm and the parameters and assumptions baked into it; the source and quality of the data going into it.
The old saying ‘garbage in, garbage out’ is as relevant today as it’s always been.
2. Machines are not good at nuance and sarcasm. Machine learning helps make sense of big data but there are some things that cannot be easily learnt. It needs a human to make sense of the output.
3. Social media along with ratings and review sites represent a huge pool of voice of the customer data. There is so much consumer insight out there. It can tell a brand what consumers like about their product or experience, what they don't like and how it compares with rivals.
It works best when used in combination with expert human analysis.
That's why we call it Human Made Machine Learning.
