Human Intelligence Versus Artificial Intelligence: A Comparison of Traditional and AI-Based Methods for Prospect Generation

Research output: Chapter in Book/Report/Conference proceedingsConference contributionpeer-review

Abstract

This contribution deals with a comparison of two traditional approaches and one AI-based data mining tool to collect and interpret data for prospect generation. Traditional prospect generation methods like manual web search or using purchased data from external providers may create high costs and efforts and are subject to failures and waste coverage through outdated and untargeted data. In contrast, AI-based methods claim to provide better results at lower costs. Based on a real case, the authors compare effects of these three prospect generation methods. AI-based data mining tools compensate for some weaknesses of other methods, especially because they do not need pre-defined selection criteria which might bias the results. In addition, they involve less effort from the researcher. However, the results in generating concrete prospects may be still weaker than with traditional methods if web crawling activities are influenced by underlying databases. For academic research in the field of prospect generation, this study provides a fact-based comparison of approaches. Implications for businesses include the advice to combine methods rather than to rely on a single approach. The time available for research and the complexity of the target market have an influence on the selection of the prospect generation approach.

Original languageEnglish
Title of host publicationMarketing and Smart Technologies - Proceedings of ICMarkTech 2020
EditorsÁlvaro Rocha, Marc K. Peter, Sandra Loureiro, José Luís Reis, Ricardo Cayolla, Zorica Bogdanovic
PublisherSpringer Science and Business Media Deutschland GmbH
Pages11-22
Number of pages12
ISBN (Print)9789813341821
DOIs
Publication statusPublished - 2021
EventInternational Conference on Marketing and Technologies, ICMarkTech 2020 - Lisbon, Portugal
Duration: 8 Oct 202010 Oct 2020

Publication series

NameSmart Innovation, Systems and Technologies
Volume205
ISSN (Print)2190-3018
ISSN (Electronic)2190-3026

Conference

ConferenceInternational Conference on Marketing and Technologies, ICMarkTech 2020
CountryPortugal
CityLisbon
Period08.10.202010.10.2020

Keywords

  • Commercial data
  • Data mining
  • Method comparison
  • Prospecting
  • Systematic manual web research

Fingerprint Dive into the research topics of 'Human Intelligence Versus Artificial Intelligence: A Comparison of Traditional and AI-Based Methods for Prospect Generation'. Together they form a unique fingerprint.

Cite this