The Darwin Social Noise Blog.

01/09/19

Mind Decoding: Neuroimaging Techniques applied to decision making

The history of the brands is full of failed campaigns and errors in strategies. Despite having large budgets and resources, some of the world’s most important brands have starred in some memorable failures. Making the right decisions is not easy and the price to pay for making the wrong ones is high. Financial losses unite the consequences that for a brand implies the fact of seeing its image affected.

To address branding strategies, go-to market, pricing policies or product development from a previous analysis of the situation, supported by the use of scientific paradigms and functional neuroimaging techniques such as magnetoencephalography (MEG) , This favors strategic decision-making in environments of certainty.

That’s what “Mind Decoding” promises. The concept stems from computational neuroscience and manages to transmit scientific knowledge to the business world by studying the brain to guide business decisions.

It uses data analysis technology, artificial intelligence and machine learning to present recommendations on decision making involving changing messages, launching products, adjusting prices or boosting many other attributes.

In the last #keynoise session held in the offices of Darwin Social Noise in Madrid, Sonia Montealegre, Director of Business Development and Strategic Alliances of Brainvestigations asked the following question:

Do you think Paul Newman is ugly?

Because one thing is what you say, and another very different thing, is what you think.

What really makes a difference in the field of business, and reduces the risk of investment, is to know the tastes or preferences of consumers by observing and analyzing the response of the brain within the margins of human behavior.

Brainvestigations adapts the changes presented by the science and puts them at the service of companies along with the support of prestigious scientists and researchers of the Laboratory of Cognitive and Computational Neuroscience, belonging to the Center of Biomedical Technology – CTB of the Polytechnical University of Madrid.

Companies from various sectors of activity are already benefitingfrom this technology to know the perception of new products, define maximum prices that the target audience is willing to pay, understand the reasons for buying and not buying a certain product or service, and the true consumer preferences.

Mind Decoding, through multiple applications of strategic business consulting, operational marketing, communication and human resources, proposed to reach the human behavior and the depth of the cognitive system that had not been possible to access so far from an empirical perspective.

Innovation has landed in the business world through the hands of science with disruptive applications determined to change the rules of the game.

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