Marketing-Intelligence

Marketing Intelligence – Use of Efficient Data Science

Data scientists are getting more and more prominent as companies and organizations are feeling the need to process

Introduction

Data scientists are getting more and more prominent as companies and organizations are feeling the need to process and evaluate more data every day to improve the business, reduce costs, increase profits, and provide even better services to the customers. In this article, we take a look at how marketers can make use of data science in their marketing intelligence to improve their business strategies and campaigns.

When marketing professionals and data scientists sit down to work together, the results can be highly rewarding. When the marketing experts listen, feel, see, and understand data in a better way, they organize much more effective marketing campaigns. When they understand their customers and their behaviors, they initiate one-to-one personalized marketing campaigns rather than approaching every person with the same general message. Data scientists who are experts in their field are becoming a vital asset to the marketing departments of many organizations that want to keep up with the changing world and needs of people.

How has the extensive availability of data changed the way marketers target customers?

It is not just the amount of data that is increasing each day, but there is also an increase in its availability from the numerous sources. The marketing professionals are now able to get a clearer picture of their prospects and customers because of the efforts made into the data science field that is, extracting data from different sources and making it connect with each other. In simpler words, marketing experts are able to be more targeted, accurate, and keen in their approach with increased data, quality data, and more interconnected data available.

What does the future hold for marketers?

The marketers will be required to be much more intelligent and smart in the way they target and profile the customers. People will tend to get unpredictable and choose when they receive more and more personalized offers. At the same time, it is essential to note that when more and more marketers approach the customers in a smarter way, the end-users and customers will become less accepting of the less personalized and inferiorly targeted offers.

How can marketers harness data from the Internet of Things (IoT)?

They sure can. First, it is imperative to know what Internet of Things means, as many people have different understandings of the term IoT. The Internet of Things is primarily an expression to summarize how much the current world is digitally connected, and how many devices are collecting, emitting and collating data on a vast range of things. The marketers have systems that can extract such information, use other technologies to make sense of the data, and then take the required steps to approach particular audiences accordingly. If advertisers are not able to make use of information coming from different sources effectively, they will not be able to target their potential audience.
iot

How can data be used for providing personalized messaging to customers?

It’s not completely outdated, yet less powerful. Generic messaging can still be done when it comes to brand awareness and establishment. For example, a car manufacturer may use generic messaging to highlight a generic brand quality like comfort. However, if they want to focus on drivers of a specific age, demographic, or preference, they will need to send individual messages to let them know why a particular car is a good option especially for them. The data you collect about your customers can be definitely used to do personalized messaging, but remember to move to the detail quickly and make every individual feel that they are the most valued persons for you. Unfortunately, messaging from many vendors is still quite generic. Only the ones that invest resources in analytic systems and data management are able to personalize their messages according to the audience.

How can data science drive profits, reduce costs, and transform businesses?

Only the businesses that are truly ready to use the data for their operations are able to collect, analyze, and mine it for useful information. When you find out the useful, valuable, and positive insights from the data, you take effective actions accordingly that eventually earns more profit. At the same time, this can help a business reduce their costs because they will be able to find out some of their drawbacks and efficiencies before they experience a loss.

1-to-1 segmentation is the ability to understand your clients and market your products and services to them on an individual level.

This has become extremely important to marketers nowadays, and here is the first thing you need to understand to make this happen: make your customers rely on the fast, modern, and analytic technology. This technology enables businesses to extract large data volumes of different structures, sizes, and shapes, evaluate them, and provide insights that the organization can use for better operations and sales.

Conclusion

We live in the modern era of Big Data in which the amount of data is extremely high and requires specialized techniques for analyzing and interpreting. Data science is the use of scientific methods for analyzing these large sets of data and finding patterns within them. This discipline can be utilized by marketers for improving their marketing intelligence and drawing up an efficient and effective marketing strategy for their business.

About Kostas

Kostas is a BI Analyst at Mentionlytics gaining insights from data. He is a Ph.D. Candidate and he loves data analytics and innovation.