How often have you heard Einstein's famous measurement quote: “Not everything that can be counted counts and not everything that counts can be counted”? Yeah, same for us.
In its elegance it is also absolutely right and highly appropriate for this chapter.
As we outlined earlier, all things are not good in measurement land. We highlighted the problem of how we still measure and track the brand marketing objectives of senior executives through out-of-touch metrics. The problem with out-of-touch metrics is not only that using them perpetuates out-of-date connection plans (TV, anybody?) but that it affects how marketing and agency executives are incentivized.
And all of this is happening in a world that has allegedly become more measurable than ever. Digital data and the digitalization of all media have allowed for real-time buying, real-time tracking, real-time optimization, and real-time dashboarding.
We have all heard of Moore's law, right? According to Wikipedia, Intel cofounder Gordon E. Moore concluded in a 1965 (!) paper that the number of components in integrated circuits had doubled every year since their invention in 1958 thus doubling their power, and he predicted the trend would continue for the next 10 years. The only thing wrong with his prediction about the doubling of computer horsepower was the “10 years” part. The law otherwise still holds true today.
Yes, big data. It is now used (and abused) so much ...