Dynamic Data Science Strategies In Marketing
What do you get when you combine the disciplines of computer science, mathematics, and business? Data science, of course. And it would be a costly mistake to ignore how this field can help you.
That smartphone in your pocket generates more data today than it has ever before, and you’re missing out if you don’t know the correct way to use it.
Each data point you come across is a powerful metric to enhance your digital marketing.
You can personalize mobile experiences for users, thanks to the insights you derive. And, you can uncover consumer trends that surprise you.
But, don’t confuse this tool with data analytics, which is an analysis of the past. Data science implements both the past and real-time data to paint a clearer vision for what’s to come in the future.
For example, how did Walmart figure out how to increase their strawberry Pop-Tart sales by 7x? Through the art of data science, researchers found that people are more likely to buy this product before a storm. With this knowledge, Walmart understood how they could significantly boost sales. All by simply putting what they know customers want, right in front of their face, at the right time.
As another example, Uber uses data science to match their ride prices with consumer demand. You couldn’t do this in the past with any taxi service.
If you’re still not sure what data science is about, pay attention to what happens the next time you log onto Netflix. They deliver accurate suggestions to help you find the content you’d enjoy. Yes, this is data science in action. And you’re the one who told them what you prefer to watch, probably without even knowing it.
Data science is an important tool to have in your arsenal. But, how can you use it to help you? Use data science to improve your own digital marketing efforts, because it keeps you a step ahead of your consumers.
Data science can:
- Help you optimize your prices, to match the changes in supply and demand over time.
- Help you build predictive models, so you can analyze when demand for your product will rise for your advantage
- Help you study each individual user, so you understand the psychographics and behaviors of them
These are a few of the ways data science is here to help your marketing strategy. Get the most out of this art and science by mastering this discipline. You’ll be able to dive inside the minds of your users and find out what they’re really looking for. Then, you can optimize your marketing strategy to build off of what you find.
Plenty of companies and tech giants like Facebook use data science. Why shouldn’t you?
Infographic by CleverTap