March 15, 2019 under
SHRAVYA KAPARTHI, RAPP DALLAS, DISCUSSES THE BENEFITS OF TAKING BEHAVIORAL ECONOMICS INTO ACCOUNT WITH CLICKZ
"One of the biggest mistakes companies make when trying to use data to influence customer behavior is assuming that people make rational choices.
Many businesses have begun using data to influence a customer’s buying decisions, but they’re leaving out the human element when trying to put that information to use.
As a result, businesses’ forays into the world of behavioral design often result in disappointment and the jump to a conclusion that the data itself is bad.
In reality, however, it’s not the data that’s to blame. It’s the fact that most companies don’t know how to package it properly. It’s failing to consider that when a person decides to buy something, it’s usually out of a combination of rational and irrational factors."
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