Is data science the key to marketing? In a word, yes!
There was a time when statisticians did not have to be so scientific. The age of big data had everyone so thrilled about the volume of data they could collect that no one actually started to think about organization until a few years ago. To make a long story short, big data became too big. Trying to find actionable solutions from a pile of “stuff” was like searching the beach for one particular grain of sand.
Is Data Reduction the Solution To the Big Data Revolution?
A (very) small fringe contingent of so-called experts are putting forth the solution that reducing the amount of data collected will help companies without the ability to organize at scale. On the surface, this solution makes sense – reducing the amount of clutter in your closet helps you to find the item that you are looking for.
However, these companies fail to understand one crucial point. Companies that collect data in a haphazard way are likely to reduce that data in a haphazard way as well. Stated another way, companies may throw away or ignore the most important data if it reduces its intake without first analyzing its current methodologies. There is something to be said for directing data collection efforts, but this cannot be accomplished without a robust data organization program.
What Are the Advantages of Modern Data Science?
No matter what buzzword you look up first, anything related to data science is basically a technique in how to aggregate, organize and analyze data. Similar to security and customer outreach processes, certain elements of data science can be automated while other parts can be streamlined to give even the smallest startup the ability to siphon through enormous amounts of data in a timely manner.
Companies that are doing business in this era have a huge advantage if they choose to engage in the nuances of data science. There has never been more help for a company that is looking to straighten out its data methodologies – help that is intuitive and even cost-effective.
Modern Data Science is Revolutionizing Sales and Marketing Today
If a company knows about its best prospects, it can deliver better marketing outreach. Precisely targeting your information is the only way that your company will be able to differentiate itself from the two quintillion bytes of data that are being produced every day.
The buyer persona was one of the most effective methods for targeting data appropriately in previous business generations. This generation of data science may completely eliminate the need for buyer personas, at least those personas that must be created manually. The science of data is moving into automated, real-time rich data that continually updates your profiles. No matter how fast your audience moves, you can move with it.
Data driven marketing allows you to segment your customer base based on more than demographic information. Businesses today have the ability to target their audiences based on contextual data, firmographic data, demographics behavioral statistics and psychographics. All of these data driven metrics can be filtered down into the scripts of your sales team, even modifying them on a day-to-day basis if need be.
In short, data science is the way to go in the modern business landscape. If it is not yet the singular key to marketing, it certainly holds a few hidden treasures behind curtains.