This week, we’ve gathered articles that discuss potential Artificial Intelligence risks and how to manage them. We learn how to keep your monthly donors, especially when their payment information expires. We understand the first database rule. And finally, we examine how to build better customer experiences through data and insights.
Are You Ready to Manage AI Risks?
by Lisa Morgan, commentary for InformationWeek.com
Your company is likely thinking about, evaluating, or implementing some form of AI, but it’s likely that your risk management function isn’t quite equipped to handle it. This is because it likely hasn’t considered what could possibly go wrong with a self-learning system. Not to worry, this is common. The shift to an AI-enabled enterprise requires a change to the culture, including entirely new ways of working and multidisciplinary teams. But not every organization is doing this just yet. Learn about some of the things that could potentially go wrong, and what needs to be considered and defined up front to help mitigate these risks.
How to Keep Your Monthly Donors—Track. Act. Keep. Repeat.
by Erica Waasdorp, contributor for NonProfitPro.com
This article’s author ran an interesting experiment: she signed up for monthly donations for eight organizations. The catch? Her credit card was going to expire in one month. She wanted to see what each organization would do once this happened. And her findings were surprising. In order to keep your monthly donors, you must track who’s payment information is about to expire, immediately take action in order to keep them, and develop an ongoing process to repeat this process for those that don’t update their information on the first try. There are a few small investments you can implement in order to retain your donors. Learn what they are and more in this helpful article.
The First Database Rule
By Seth Godin for Seths.Blog.com
The first database rule is a simple one. If you participate in a database about people or their work, the first rule is simple: it should be as simple to fix an error as it is to make one. Errors can be very expensive to your organization and to the person that’s been misrepresented. Even worse, is when you say that the database cannot be changed.
Using Analytics to Fuel a Better Customer Experience
by Shashi Seth, contributor for MarTechAdvisor.com
Every customer is unique and different, especially when put in the context of time, place, intent, needs, and wants. Traditional segmentation and targeting are no longer effective. Each campaign should be approached as if you’re creating a segment of ONE. Meaning, every customer is treated differently and their experience should be completely customized to their specific situation and needs. Easier said than done! The secret to developing personalized campaigns that will reach the right customers in the right moments is data. By employing the right data sources, you can better understand your customers and build more precise targeting capabilities. Automation and machine learning platforms can also help speed the data crunching and insight-revealing processes.
Did you see an interesting article in the last week? Share it with us! Send it to astuttle [at] lityx.com.