Why Every Marketing Team Should Have a Data Scientist

As modern technology continues to transform marketing, make sure that your company is not left behind in the competition. Data Science, if used intelligently, can prove to be an asset for your company, helping you harness the potential of Big Data and transforming analytics into lucrative business revenues. From Information Technology to Operations, from Sales to Marketing, Big Data has seamlessly made its importance felt everywhere.

When it comes to marketing, data analytics plays an integral role in critical business decisions and building effective strategies to render enhanced consumer experience and drive sales. Earlier, the experience of a marketing team depended on integral data points, and not on the basis of metrics derived from aggregation formulas, social media platforms or ad servers. The data gained from various sources might have been measurable or unreliable, but everything added up to the experience of the team. 

However, the scenario has somewhat changed today. With the growth of technology and evolution of digital media, it is no longer the case that the senior marketing executive knows best. Anyone who has the capability of identifying the hidden value of Big Data and applying it to marketing is equipped with the best knowledge. Unfortunately, marketers hardly have time for data analysis. Therefore, having a data scientist in the marketing team is most crucial.

In Marketing, Data = Power

In today’s world of marketing, the knowledge and power often lie with the one who have best access to data and in-depth understanding of the same. This is often a data scientist who does not only have access to every datapoint gained from client interactions, advertisements and promotions, but also from publicly available information, gathered from various sources like Rentrak, ComScore, and Google Trends. What’s more, a data scientist isn’t just collecting and storing this rich data. He or she harnesses it to build models that can be analyzed to predict consumer behavior. This would help to drive better and more creative marketing decisions. Therefore, in modern business environment, data is considered equivalent to power and knowledge.

Importance of a Data Scientist in Marketing

For many businesses, Data Science is undoubtedly a secret weapon. A data scientist gathers, stores and critically evaluates data from multiple sources, helping brands to invest their marketing dollars more efficiently and wisely. At the same time, he or she helps to keep the brand at the top of business knowledge, helping tobeat the competition. Considering the complexity of data collection from multiple platforms, visualization and analysis, it is for the above-mentioned reasons that every marketing team should have data scientists to serve their clients better.

An in-house expert has the capability to collaborate with company data scientist and fetch connections between business and client data. It is important to understand that staying on top of the media environment is fast becoming challenging, and increasingly a data challenge than aningenious one.The problem is further fueled by a growing number of platforms and unique data sets, and increasing complexity of data coming from these sources. It is impossible for a marketing team to be an expert in aggregating and analyzing all information gathered from multiple platforms and with varied complexities.

For marketers to earn a competitive edge, mastering the art of Data Science is most important. However, it is impossible for today’s marketers to spend days analyzing thousands of new metrics or understanding every data solution that comes in their way. This is where it is crucial to leverage the potential of a data scientist to gain winning results. In fact, some companies have already invested in data science capabilities. Have you? Share your thoughts here.