I heard this story on this morning on NPR.
http://www.npr.org/templates/story/story.php?storyId=113673324
I’m not an audiophile, so I wasn’t paying much attention until they mentioned the Black Eyed Peas new song, “I’ve got a feeling.” I like this group regardless if I’m not their target demographic. I saw them perform on Ellen DeGeneres’ show, and I remember thinking how simplistic the words are. Very catchy.
Plus, I recently saw the Oprah video of the group performing “I’ve got a feeling” in Chicago with a Flash Mob dance thrown in, and I was hooked. If you haven’t seen the Oprah video, it’s definitely worth a click.
Anyway, the interesting thing about the story is that a company called Music Intelligence launched a Web site for songwriters called Uplaya. The website allows songwriters to upload a song gives it a “success rating” based on a series of algorithms.
According to the article, the “software found that hits have certain common patterns of rhythm, harmony, chord progression, length and lyrics. A study conducted by the Harvard Business School found that the software was accurate 8 out of 10 times.”
The amazing fact is that an algorithm can predict success 80% of the time. What if your business had an algorithm that could predict the success of your new offerings 80% of the time? You’d be a huge success!
In the past, I’ve done conjoint analysis studies to find the right combination of attributes and levels to make a successful product or service, but a lot of people are turned off by the “mathiness” of the process. It seems too sterile for the non-quant folks. Maybe I can use stories like Uplaya to revisit some of the findings and generate new enthusiasm. I’ve got a feeling…
Tags: black eyed peas, conjoint analysis, innovation, npr, sawtooth, uplaya, wisdom of the crowds
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