04 May Watermelon Oreos and the Value of Failure
Northwestern University’s Kellogg School of Business reinforces the value of data insights in a resent blog post illustrating how data provides levels of understanding; take watermelon Oreos and the value of failure, for instance.
A team of researchers led by Kellogg marketing professor Eric Anderson discovered a valuable and highly unusual trait among customers who purchased Limited Edition Watermelon Oreos back in 2013. “If these customers purchase your new product, the researchers found, it is likely to fail.”
The value this failure can bring to product development is likely incalculable. Anderson goes on to explain the critical relationship that must exist between business leaders and data scientists. To learn more about the study and Anderson’s perspective on using analytics to guide business decisions that lead to success, read the full article HERE.
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