Why Nate Silver’s Problems Are Advertisers’ Problems
The election surprise underscored truths about data modeling and predictive science that marketers must remember, writes Taylor Schreiner.
Sales Renewal’s insight:
As marketers, we’re luckier than political pollsters. We “don’t just have one election; we have many campaigns. Therefore, we can use those campaigns to try different models against each other, seeing how well they predict reality. Marketers have another advantage: we don’t just observe events, we control them. We can change our media strategy and see if a model reacts the way expect. Increasingly, we can even run truly scientific experiments across both digital media and television. Experiments give us access to truths that aren’t generally available to the team at FiveThirtyEight.com.”
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