A recent conference, IBM introduced the business world to cognitive technology. A recently published Forbes piece took an in-depth look at the nature of cognitive technology and how it has the potential to revolutionize marketing in the 21st century. In brief, cognitive technology refers to tools that allow the analysis of consumer generated information drawn from pattern recognition, data mining and natural language processing.
The article notes that in the last two years, the rise of social media, mobile payment systems and wearable technology has led to the creation of vast amounts of data that companies can use to redesign and refine their marketing outreach efforts.
In previous eras, companies had to base their marketing decisions based off of survey data, consumer reviews and focus group testing. However, in today’s technologically integrated world, businesses can now get up to the second information about how their latest video, print and online advertising and products are received by consumers. This allows for the quick revision of materials that may have resulted in catastrophic losses.
As a market leader in data analysis, IBM’s interest in cognitive technology suggests that it is the wave of the future and forward thinking leaders need to get their surfboards ready before it makes landfall.
Read the full article here: http://www.forbes.com/sites/kimberlywhitler/2016/06/26/cognitive-technology-what-it-is-and-why-marketers-should-care/#4ba0064a24b0
