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Carri Bugbee

The strength of 'weak signals' | McKinsey & Company - 0 views

www.mckinsey.com/...The_strength_of_weak_signals

weak signals

shared by Carri Bugbee on 12 Feb 14 - No Cached
  • Arising primarily from social media, they represent snippets—not streams—of information and can help companies to figure out what customers want and to spot looming industry and market disruptions before competitors do. Sometimes, companies notice them during data-analytics number-crunching exercises.
  • potting weak signals is more likely when companies can marshal dispersed networks of people who have a deep understanding of the business and act as listening posts
  • Nordstrom, for example, took an early interest in the possibilities of Pinterest, the digital-scrapbooking site where users “pin” images they like on virtual boards and share them with a larger community. Displayed on Pinterest, the retailer’s products generate significant interest: the company currently has more than four million followers on the site.
  • ...2 more annotations...
  • Nordstrom began rolling out the test more broadly to capitalize on the site’s appeal to customers as the “world’s largest ‘wish list,’” in the words of one executive.2 2.See Rachel Brown, “Nordstrom touts merchandise with Pinterest,” Women’s Wear Daily, July 2, 2013, wwd.com. The retailer continues to look for more ways to match other customer interactions on Pinterest with its products.
  • listening for weak signals isn’t enough—companies must channel what’s been learned to the appropriate part of the organization so the findings can influence product development and other operational activities.
  • Carri Bugbee on 12 Feb 14
     
    dispersed networks of people who have a deep understanding of the business and act as listening posts.
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