An Outstanding and Modernized Approach of Digital Marketing With “The Power of Data Science”
“In every two days, we are creating more data than what was created between the dawn of time and 2003! As humans we are creating an extraordinary amount of data” the moment I read this line a number of questions strike my mind like, how can I use this data in today’s digital marketing environment? And is there any relation between Digital Marketing and Data Science? How data affecting our digital marketing industry? How data science can improve the ability to target customers? In this article, we are going to figure out these questions but before that let me explain both the terms(data science and digital marketing) in some detail and then give you the answers.
Data Science: Data Science has become a buzzword that almost everyone talks about these days. It is a study that deals with the identification and extraction of meaningful information from data sources with the help of various scientific methods and algorithms. This helps in better decision making, promotional offers and predictive analytics for any business or organization. For in detailed elucidation- what is data science?
Digital Marketing: Digital Marketing is a process where we use online platforms like the search engines, emails, YouTube, apps, websites to reach our prospective customers who would be willing to buy our products or services. And that’s the reason why any business exists — To sell their products and services and make profits.
After having a basic understanding of both domains we can say that data science has the capability of revolutionizing your digital marketing strategies and enhancing your customer’s experience. And In order to enhance this, below are the suggestions on how data science will accelerate digital marketing campaigns:
- Identifying the Right Audience: Generally, marketing campaigns are broadly distributed irrespective of the location and audience. As a result, there are high chances for marketers to overshoot their budget. They also may not be able to achieve any of their goals and revenue targets. However, if they use data science to analyze their data properly, they will be able to understand which locations and demographics are giving them the highest ROI.
- Recognize the Right Channel: Data science can be used to determine which channels are giving an appropriate lift for the marketer like Email marketing, SEO, social media, etc. And it is very helpful to tell the marketer exactly which channel and medium are delivering proper returns.
- Social Media Marketing: These days, customers are highly active on social media sites like Facebook, LinkedIn, and Twitter. Marketers can use data science to see which leads are exploring their social media page, what content they clicked on and more. With insights such as these, they can formulate a proper social media engagement strategy.
4. Real-Time Interaction Marketing: Data science can produce information about real-time events and allow marketers to tap into those situations to target customers. For example, marketers of a hotel company can use data science in real-time to determine travelers whose flights were delayed. They can then target them by sending ad messages directly to their mobile devices.
5. Improving Customer Experience Using Data: Giving a rich customer experience has always been a significant factor in making marketing progress. With data science, marketers can collect user behavior patterns that will predict who may want or need specific products. This allows them to market efficiently and provide customers with enriching experiences.
So after all the discussion, I would say that Data science is the latest must-have skill for digital marketing. It helps in better decision making, promotional offers and predictive analytics for any business or organization. And If you are a beginner I suggest you to open the doors of opportunities and Step into the world of data science with 370+ free data science tutorials.
Data Science Case Study- “How Walmart Optimizes Customer Experience with Real-time Recommendations?” Walmart is the world’s largest retailer and it deals with almost 250 million customers weekly through its 11,000 stores across 27 countries, and through its retail websites in 10 countries. And with this huge figure, Walmart Strongly believes in a recommendation engine.
A staggering amount of about 2.5 petabytes of data is collected from the customers every hour. This data is unstructured that is utilized through Hadoop and NoSQL. It tracks and monitors various factors that might affect the sales at Walmart stores. Like if a regular user suddenly buys a baby diaper, Walmart will start recommending baby products, food, etc. Walmart is analyzing the customer’s data and trying to find all the liking and disliking, based on which it is recommending its products. It is one of the many major industries that is leveraging data science to make the business more efficient.
To know more — Here are the top 6 Data Science Use Cases that are Changing the World.
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