Just in case you’re unaware, the amount of data we create and consume every day is staggering. In 2020, we created 1.7 MB of data every second!
If you’re in the marketing world, you probably know that this data amounts to a virtual treasure trove: if you know how to read it, you can use it to your advantage.
Of course, understanding how to harness the power of data is a notoriously complicated process. Data analytics are the standard when it comes to modern marketing, but this tried-and-tested tactic often works well with another great strategy, “data science.” But what is this tactic, and why bother learning how to incorporate it into your marketing plans? Here’s what you should know.
What Is Data Science?
If you’ve ever used analytics to track your campaigns, you already know how valuable data can be for marketing. But analytics is just one data-rich tool available to you, and it’s best when paired with data science as well.
Where analytics track past behavior, metrics, and actions, data science helps marketers to predict real-time and future patterns. To do this, data science harnesses a broad toolbox that includes everything from AI technology to algorithms to mathematical modeling. Data scientists then combine this with their real-life business expertise and traditional research.
Why Incorporate Data Science Into Your Marketing Efforts?
The benefits of data science can boil down to one factor: it provides helpful forecasts and insights that can be a huge advantage for marketers. It’s impossible to list all of the ways in which data science can make a difference, but here are some of the most common ways marketers harness this tactic:
- Budget optimization: Data science can help you build a model of your team’s spending to conversion ratio, allowing you to understand how to distribute your budget.
- More sophisticated testing: Data science methods can help you understand the words and graphics that resonate most clearly with your audience.
- Sentiment analysis: This type of data science allows marketers to gain insight into their audience’s opinions, attitudes, and beliefs.
- Predictive lead scoring: Algorithms can help you calculate your leads’ probability of conversion with more accuracy.
- Customer segmentation: Data science can allow for the micro-segmentation of users into more precise groups, allowing for a better understanding of behavior.
- Content strategy: By pulling and better understanding audience data, marketers can create better content for their segmented audiences.
- Predictive analytics: With statistical algorithms, marketers can predict future trends and opportunities with high probability.
In other words, whether you’re trying to get a handle on your leads or looking for better ways to optimize content, data science can make a difference!
How Can The Darl Help?
If you’re interested in dabbling with data science, it’s not hard to find free tools online. Many of these tools will even be the same ones that professional data analysts and data scientists use on a regular basis.
However, it’s easy to forget that the best marketers pair their data science findings with real-world business expertise. With an understanding of how to incorporate forecasts into their marketing strategies, they’re better equipped to use the data to their advantage.With our wealth of experience in the marketing world, The Darl understands how to take data analysis and data science to the next level. If you’re thinking of partnering with a team that can boost your marketing tactics with data-backed strategies, we’re here to help! Check out our other posts to learn more about our expertise, and contact us to see what we can do for you.