In this podcast episode Stefano Puntoni, PhD, Wharton Professor in Marketing, Behavioral Scientist, and a renowned, award-winning expert in Data Analytics, Economics, Brand Management, and Consumer Research, reveals his lessons and views on making stronger decisions as humans alone as well as together with AI and technology or data with purpose in an unpredictable world. He deconstructs the decision making process and explains why outcomes alone are irrelevant, providing real world examples from the perspectives of an individual business executive, organization, and a consumer. Most of his ongoing research investigates how new technology is changing consumption and society - a very timely subject today, and he speaks about the role of decision driven science in radically innovative companies as well as an exciting new research initiative at The Wharton School which will stimulate more insights on the relationship between new technology and consumer behaviors.
2:34 Inspiration to study both human behavior through marketing and data
analytics
2:43 Early passion for architecture and enjoyment of applying both
creativity and analytics using both sides of his brain at work
5:22 How the most innovative companies identify the unspoken needs
5:58 Difference between being market driven or market driving in radical
innovation
9:03 Creating the bridge between the person who best understands the
problem and one who understands the numbers
12:51 Unilever or Google are companies that are very advanced in
combining domain experts with data scientists. Google is using
consultative selling to improve their customer experience.
13:42 Ian Brown, Stanford Professor - "You can't judge decisions on
outcomes alone"
14:15 How to make the best decisions most quickly and at the right time
17:01 How can we train our intuition to make better decisions? Einstein:
"The intuitive mind is a sacred gift and the rational mind is a
servant. We have created a society that honors the servant but has
forgotten the gift".
21:20 Gird Gigerenzer: Intuition is instinctively knowing what to
discard and what is not essential.
22:06 How do you utilize AI or technology to make the right decisions on
determining your audience?
22:36 Why very few real advertisers who know how to really do it well
and reproduce their results
26:44 Pharma case study of interpreting analytics from Medical Education
programs delivered via social media
27:21 Problem-based learning in pharma is very effective - "WhatsApp"
case studies in emergency care medicine
28:22 Story of an Ad Campaign with the right SEO algorithm for Health
Insurance Marketplace that deceived and misled many patients in the U.S.
29:49 Tips for consumers can to make better decisions
31:36 How objective quality of marketed products relates to consumer
reviews and prices
32:43 Stefano Puntoni is Co-Director with Bob Mayer of a new "Impact of
Technology" research initiative at The Wharton School to promote and
stimulate the impact of behavioral science work on technology across
different industries
