Our Blog Posts
Pandemic accelerates need for ecosystem collaboration
The pandemic has put the spotlight on digitalization. So has the unprecedented surge in earnings of big tech companies like Amazon, proving that digital innovation pays off. The disruptive force of the pandemic caused staggering adoption rates of digital tools and boosted online sales. Consumer habits are shifting. Engaging and interacting digitally has become the “new normal”.
Interview with David Wolf on the implementation of the Interactive Advisor Framework at LGT
LGT Group, the largest family-owned private banking and asset management group in the world wholly owned by an entrepreneurial family, recently announced that it is producing its investment content on Adviscent’s Interactive Advisor.
Communicating with clients: the storytelling approach
In broad terms, the success of quantitative investment strategies in portfolio management is due to two things.
Fake news may be compromising the quality of social intelligence
Advances in the field of opinion mining and sentiment analysis has opened up unprecedented access to insights into what people think. On Facebook alone, the most widely used social media platform, 510,000 comments are posted, 293,000 statuses are updated, and 136,000 photos are uploaded every minute.
Uncovering customer sentiment
Is social media analytics a priority that should not be overlooked?
Community-driven websites and social media are becoming a powerful outlet for people's thoughts and feelings on a specific product, brand or company. Being able to measure perceptions of a product or service is clearly valuable for businesses, and social media streams are beginning to represent a “never-ending focus group” suited to provide valuable, real-time insights into public sentiment, thus providing a good basis for informed business decisions. This has given rise to a fast-growing market for social media monitoring and sentiment analysis software and services.
How popularity – and lack of popularity – determines the choices we make.
In everyday judgments and decisions, our brains are susceptible to various fallacies known to social psychologists as cognitive biases. Among these is the bandwagon effect. It refers to a behavioral phenomenon whereby people tend to do something primarily because other people are doing it.
Going with your gut
Recent studies from psychologists and neuroscientists are beginning to unravel how we use our intuition to make the right decisions.
Compared with careful analysis, intuition has always been viewed as a less effective approach to decision making. Whereas going with your first best feeling might seem efficient for snap decisions that are mostly routine and insignificant, for bigger decisions we usually favor a rational approach, for example by weighing written lists of pros and cons.
Advancing healthcare with shared decision-making
For most medical decisions, more than one reasonable option exists. However, each option involves different combinations of possible therapeutic or side effects. Traditionally, doctors make these decisions for their patients with little discussion about the patient’s preferences. This model of decision-making – choosing a course of action in the patient’s best interest but without the patient’s consent – is known as paternalism. Practice standards have shifted in recent years from a paternalistic model to one based on engaging patients in decision making.
Lessons in behavioral economics
Many economic models of consumer choice assume decision-making is characterized by rationality. This does not fit with evidence from cognitive psychology.
In economic theory, behavioral definitions assume that people are mostly economical in their decisions, making rational judgments towards obtaining the highest possible utility with the least possible input. The term used to describe this behavioral assumption is maximizing utility, epitomized in the concept of Homo economicus. However, as other scientific disciplines have shown, the concept of people acting rationally in pursuit of their self-interests can hardly be an accurate representation of reality. Alternative assumptions propose remarkably irrational behavior that contradicts the Homo economicus model in many ways.
Technology meets qualitative research
How collaboration technology is changing the face of focus group research.
Qualitative research can offer fascinating insights into attitudes and perceptions. The most commonly used and well-known qualitative research method is the focus group. Researchers use them as both a primary and complementary method of research. In business settings, focus groups are used to study consumer needs and preferences, to test new products ideas or to investigate customers’ beliefs, attitudes and perceptions about a current business, service or advertising campaign.