Sketchy Ideas

Sketchy Ideas 80: Decision Science, Engineering the choices to optimize the outcome

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Sketchy Ideas Episode 80 Show Notes

:10  Intro

  • Topic: Decision Science, Engineering the choices to optimize the outcome
  • Sponsors
  • United performing arts fund
    • www.upaf.org
    • Cream City Marketing
      • www.creamcitymarketing.com
      • Spearity
        • www.Spearity.com

          • Guest Host Sean Jones into

          5:00 Making better decisions

          • Sean spent most of his career in health care
          • “Trust the Data”
          • An error could be costly
            • A fraction of a penny worth 600 million a month
            • Everyone is impacted

              • 10: 00 Making large decisions

              • Data sources and making decisions
              • A fraction of a penny can make or break the deal
              • What part of the data really matters?
              • How do you value brand equity?
                • Losing money? But with brand equity it will pay off

                  • 15:00 Quick Trip

                  • Talet at quick trip
                    • Convenience store that sells gas
                    • Pet store (Raw dog Barkery) is always located near grocery stores

                      • 16:00 Got right

                      • Popular product in store with good margin
                        • Customers were buying product but nothing else in the store
                        • Buying off an end cap
                          • Put your top sellers there and then move them
                          • Put testers out on the end cap also to see potential
                          • Given them a 20% advantage when they removed their popular product
                          • Relying on YOUR data and not someone elses

                            • 23:00 intuition

                            • Episode:
                            • Context is King

                              • 24:00 Got wrong

                              • Data from everyone looked good
                                • New anistis wanted to collect RAW data before
                                • Made decision on FDA data and covered the procerder
                                • This procedure was more effective at other sites then others
                                  • Came down to who was sitting with you while you were receiving the procedure
                                  • That kind of data was NOT in the data
                                  • Context matters

                                    • 30:00 Wrap-Up

                                    • Congratulations on the success see below for
                                    • Meta data, context,
                                    • Send questions to [email protected]

                                      • Raw dog Barkery information

                                      PODCAST

                                      https://exploringcatanddognutrition.com/

                                      https://www.facebook.com/ExploringCatAndDogNutrition

                                      BRANDS

                                      https://rawdogbarkery.com/

                                      https://www.facebook.com/rawdogbarkery

                                      https://www.whatsinthebowl.com/

                                      https://www.facebook.com/whatsinthebowl/

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