Thought Leadership

May 9, 2017

Companies often say their customers are their most important asset. Peter Drucker, one of history’s most influential business thinkers, stated it simply, “The purpose of business is to create and keep a customer.”
 

The value of keeping a customer is not only their purchases today but also their purchases (and their referrals) tomorrow. As a rule, long-term customers will nine times out of ten spend more with you next year than will customers you just acquired last week.

Customer tenure is just one factor that can predict a customer's future expenditures. Armed with enough data you could predict how much your current customer base will spend with you nex...

May 7, 2017

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I've been researching AI for an upcoming keynote address I'm delivering. I've now read several articles about a combination of AI algorithms named Libratus. In January Libratus, developed at Carnegie Mellon, beat four top poker players over a twenty-day contest.
 

Once it figured out the patterns in the play of its human competitors, it went on a winning streak to the tune of $1.7 million (theoretical) dollars. The article link contains a very interesting quote from Noam Brown, one of Libratus' co-creators.
 

“When I see the bot bluff the humans, I’m like, ‘I didn’t tell it to do that. I had no idea it was even capable of doing that.’ It’s satisfying...

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