Posted at Sep 4, 2018 2:36:05 PM by thatagency | Share
The ability to make intelligent decisions for your customers is more possible than ever before. Unfortunately, though, it relies on you, the data, and how you interpret it. Data science in marketing is far from a trend that might be here today and disappear tomorrow.
Instead, it's an entirely new way to market that won't die out; it will only get stronger - and understanding how to use that to your advantage is key to getting your business in front of your target audience.
What Is Data Science?
Data science is the process of capturing customer data, processing it, communicating and analyzing it, and then maintaining it. This concept deals with data acquisition and data entry, as well as data mining, modeling, summarizing, reporting, and (eventually) warehousing.
It’s all about the data!
Why Does Data Science In Marketing Matter?
Data science in marketing matters almost everywhere in today's digital landscape. Data science can help you predict future revenues and even future markets. One of the places it counts most right now, though, is social media.
If you've done any social media analytics work, you know the entire arena is ripe with data to interpret. Some studies suggest the average American alone spends two hours a day on social networks. Think about how many click, shares, and comments that adds up to. Data science can help you change the way you market your brand on social media, and it can make almost every campaign more successful.
The Way Forward
So, what can you do to make all of that data more useful in real time? Shape your thoughts:
Think Linguistics: The information to process word usage is out there. You know which words customers use and how they're using them thanks to natural language processing algorithms. How does that help? It gives you the insight you need to decide which words you should employ in your next social media campaign and which words you should leave out.
Think Community: At the heart of social media is a virtual community, and you can tap into that within your marketing efforts. After all, if you target the members of a given community within a campaign, you're likely to see much stronger results.
Start by looking at positive discussions in a community, and use that as the base for your campaign. You can identify trends through your data, then conduct a cluster analysis. These social media analytics will help you find the nodal points that link people together.
Think Visualization: One way to use the information you're collecting is to create visualizations. You can make visualizations with hundreds of different purposes. That means you're seeing not just the individual, but also the larger social world. Find correlations, trends, and proportions that will help you build out the right marketing campaigns.