Last updated on September 15, 2019
As “digital” becomes more of a lifestyle for practically everyone around the world, an explosion of data emerges in which actions and interactions can be mapped to specific behaviors with a good amount of precision. This has led to the rise of data science—or, in simpler terms, critical business insights that bring clarity to how people interact in the digital world.
Data science is important for marketers because it helps local businesses reach, target, engage and convert potential customers with more granularity and precision. The current marketing landscape is being shaped by data science as is the future of customer interactions.
Smarter business decisions come from better predictions. As a marketer, when you think like a data scientist, you make predictions that keep shareholders happier, you make customers happier, and you increase respect for your profession. Your content teams make better decisions, you build support for the content initiatives you propose, and your company gets more value from its content.
Data science can definitely add value to a business by the addition of statistics and insights across workflow, be it hiring new candidates to help senior staff make better and informed decisions. Data science can add value to all industries.
Marketers need data science. The emergence of data science as an area of focus and expertise signals the need for marketers to prove their hypotheses with greater confidence, rigor, and precision.
Data science has also introduced a new set of algorithms to the industry. Market segmentation research uses clustering techniques. Supervised machine learning helps predict future trends. Pattern-matching techniques can identify specific purchase behaviors.
When combined with the large amounts of data we have available to us today, these new algorithms can solve these marketing problems at greater scale and with more relevant business insight, giving advertisers better ability to create customer profiles and target would-be buyers at key moments in time.