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Role of Data Analytics In Marketing
The field of marketing is taking a scientific approach to reaching customers.
In this case, the science involves data that provides insights into who customers are and why they do what they do. Thus, data analytics has become an important aspect of marketing research. It is a development that is leading to accurate and profitable results for marketers and career opportunities for data analysts.
Science Meets Art
Marketing blends both art and science. Through art, marketing connects with people on an emotional level by using messaging and sensory elements. Meanwhile, marketing uses science to examine patterns in human behavior. It is the latter in which data analytics has served a major role.
Data can reveal individuals’ behavioral patterns, likes and dislikes, and the platforms they prefer. Knowing these details, marketers can craft messages and deliver them in a timely manner that leads to decisions by prospective customers.
By targeting the right person at the right time and on the right platform, businesses get more bang for their buck.
Marketers in the past had few insights into how their customers engaged with their brands at various touchpoints. They did not know exactly why some customers decided to buy, or not buy, from them.
Now, with the support of data, marketing can be very personalized and reach people according to individual tastes and preferences.
There is a large amount of data coming from everywhere. The web alone accounts for much of the information marketers can now use to improve the quality of their customer interactions. According to the U.S. Bureau of Labor Statistics, a wide range of businesses need individuals with the analytical skills to collect and sort big data. Within marketing, this can include information and data sets such as social media comments and online customer reviews in addition to behind-the-scenes data.
The Role of Data Analysts
Data analysts offer organizations the quantitative and qualitative skills needed to inform marketing strategies. They do so by examining data, statistics and other findings and then interpreting it for key stakeholders to understand.
Marketing data analysts help with the problem-solving and decision-making needed to create marketing plans and tactics. Their responsibilities include:
- Data collection and research: Analysts retrieve and gather data on competitors’ tactics, prices and products. They also collect and research data about consumer demographics, buying habits and preferences.
- Analysis: Analytical techniques ranging from diagnostic to predictive must be applied in order to process vast amounts of data and interpret it for diverse audiences. Marketing data analysts also watch and forecast marketing trends to find opportunities for promotions and campaigns.
- Collaboration: This includes working with teams, including sales, to exchange important insights and reports on performance and measurable results.
- Reporting and visualization: Analysts must translate complex data findings into comprehensible reports that include text, charts, graphs and/or data visualizations.
Companies are seeking people with the analytical and soft skills to support sales and marketing. Data analysts are in interesting positions where they can help drive data-informed marketing decisions. Ultimately, this helps businesses put themselves in favorable positions within their markets.
Expanding Your Opportunities as a Data AnalystThe bachelor’s degree in Data Analytics program at Carlow University offers a range of skills that can be used across fields and industries. This includes the critical-thinking and problem-solving skills needed to support business and marketing strategies.