The Powerful Triangle of Marketing Data, Managerial Judgment, and Marketing Management Support Systems
In this paper we conceptualize the impact of information technology on marketing decision-making. We argue that developments in information technology affect the performance of marketing decision-makers through different routes. Advances in information technology enhance the possibilities to collect data and to generate information for supporting marketing decision-making. Potentially, this will have a positive impact on decision-making performance. Managerial expertise will favor the transformation of data into market insights. However, as the cognitive capabilities of marketing managers are limited, increasing amounts of data may also increase the complexity of the decision-making context. In turn, increased complexity enhances the probability of biased decision processes (e.g., the inappropriate use of heuristics) thereby negatively affecting decision-making performance. Marketing management support systems, also being the result of advances in information technology, are tools that can help marketers to benefit from the data explosion. These systems are able to increase the value of data and, at the same time, make decision-makers less vulnerable to biased decision processes. Our analysis leads to the expectation that the combination of marketing data, managerial judgment, and marketing management support systems will be a powerful factor for improving marketing management. Implications of our analysis are discussed.
|Keywords||decision biases, decision making, information technology, marketing management support systems|
|Publisher||Erasmus Research Institute of Management (ERIM)|
van Bruggen, G.H., Smidts, A., & Wierenga, B.. (2000). The Powerful Triangle of Marketing Data, Managerial Judgment, and Marketing Management Support Systems (No. ERS-2000-33-MKT). Erasmus Research Institute of Management (ERIM). Retrieved from http://hdl.handle.net/1765/42