You know what data is and you know what science is, so you should know what data science is… right? Well, in simple terms, data science involves extracting information from structured or unstructured data in various forms and making sense of that data.
Due to the growth and expansion of the internet, the amount of data being generated is increasing and at a very fast rate. Approximately 1.7 million bytes of information are generated every second per human being, and that number is on the rise. This means that data science is becoming a must for many, if not all, businesses, and that means there’s now an increase in the demand for data scientists. Unfortunately, however, there is a major shortage of data scientists at the moment, probably due to the fact that there are very few courses that teach it in universities.
Data Scientists: So who are they exactly and what do they do? The actual term “data scientist” was only coined in 2008 because data science is such a knew phenomenon. The overall role of the data scientist is broken up into four specialized jobs: the developer, the researcher, the creative, and the business manager. It’s rare that one data scientist will be skilled in all four roles, so different aspects of data science require different skill-sets. Data scientists interpret the information they accumulate and relate it to their business so that the overall brand can benefit from it. So the more data generated, the more information gathered. And the better the data analyzed, the better the information available!
So what about digital selling and digital marketing? Can they benefit from data science?… The short answer is: yes. Digital marketers and digital sellers can benefit from learning the basics of data science, but they can also learn from the data scientists they work alongside.
For example, digital sellers and marketers can use KPIs (Key Performance Indicator) which demonstrate how effectively a brand or company is achieving key business objectives. Businesses use KPIs in order to determine their success at achieving goals and targets. This sort of in-depth analysis is very useful for brands and businesses in the digital selling sphere as it can improve the efficiency and overall effectiveness of their digital marketing strategies. It can also be helpful for digital marketers and digital sellers to take a free online course in Google Analytics as this will make it easier for them to understand the basic principles of data analytics and data science.
The term “digital marketer” was coined in 1990 and the role is a vital component of digital selling. So how can the data scientist assist the digital marketer and the digital seller to reach their targets? Data scientists track insights such as website visits, page views, followers on social media platforms, website bounce rates, where the bounces happen, and time spent on the website and pages. These insights are extremely useful for digital sellers and marketers to have and take note of as their strategies can be easily adapted and improved with this type information. Once the data scientist makes sense of the information he or she gathers, it can be related to the digital sales and marketing teams. This will ultimately drive sales, as the content of their strategies will be more accurately representative of their customers’ needs and interests!
The one thing all data scientists are skilled at is coding. It’s unlikely that digital marketers and digital sellers will have this qualification, so hiring data analytics specialists and data scientists to initiate an analytics program is probably your best bet. That way, defining metrics and reporting features of the data gathered will be much more efficient.
Something that would be beneficial for digital sellers and marketers in relation to data science is the @TwitterData account on Twitter. This account gathers a range of various data that is related to Twitter and tweets about it, often using infographics and gifs. This is especially useful for social selling and lead generation on various social media platforms, not just on Twitter, as you can use the data to your advantage in order to construct more relevant tweets and hashtags. So data really is helpful when it comes to digital selling!
Overall, data science is a great resource for all businesses to utilize, especially for their digital sales teams. Tracking data is great when it comes to evaluating things such as who visits your website and where they are coming from, who converts from leads to customers and what makes them convert, and what your churn rates are. This information is extremely valuable for your business to have. That is why data science is becoming more and more important for digital selling and digital marketing as the data that’s evaluated and analyzed is often the basis for creating the most effective strategies!