“No great marketing decisions have ever been made on qualitative data”

Simplified Meaning:

Great marketing decisions rely heavily on solid numbers and hard facts rather than just opinions or feelings. Imagine you're running a bakery and want to increase your sales. If you just ask a few friends what they think of your cakes, they might say they love them because they don't want to hurt your feelings. This feedback is qualitative and not very useful for business decisions. Instead, a better approach would be to look at sales numbers, trends in customer purchases, and what products are selling the most. This quantitative data tells you clearly what's working and what isn't. Real-life example: big companies like Amazon use loads of data about customer shopping habits to decide what products to promote. They don't base decisions just on someone's opinion about a product. When making marketing decisions, it's crucial to rely on these measurable pieces of information. This way, you can identify patterns, predict future sales, and make smarter choices that lead to success. So, using solid data can help you make more informed and effective decisions that truly benefit your business.