Outsource Your Data Scientists for Better Marketing Conversion Rates
There is a lot of talk these days about big data, analytics, and the cloud. And with good reason. Every business these days – large and small – generates copious amounts of data about itself. And, that data is becoming increasingly easy to collect, organize, and analyze.
In his recent article, “We don’t need more data scientists — just make big data easier to use,” Scott Brave argues that we shouldn’t need to hire/produce/train more data scientists but that rather we just need to improve our tools. At
MindEcology, we wholeheartedly agree – but we also believe that we’re collectively not there yet.
That is: what Brave argues for is absolutely spot-on: the tools and techniques that data scientists use SHOULD be easy enough to use by even the most inexperienced marketer or mid-level manager. They should be, but they are not.
The good news is that, in this regard, the tools and techniques of big data – data mining, artificial/machine learning, predictive analytics – have become cost-effective enough as to be well within the grasp of small and mid-size companies. Still, short of hiring full-time data experts to work in-house, most companies still need to look outside their walls (real or virtual) to get the expertise needed to set up and execute these analyses in order to produce meaningful business results.
The solution for small and mid-size companies without in-house expertise? Outsource your data scientists. With the right outsourced and/or partner data experts by your side, you can:
1. Collect, organize and take stock of the valuable customer and order data you already have
2. Develop strategies for leveraging that data – or combining it with external data sources – in a way that fits with your business objectives
3. Execute those strategies to produce meaningful reports
Finally, you can apply the results yourself or hire marketing experts who are fluent in all-things-data to help you execute the strategy in the form of a full-fledged, multi-channel campaign. With the benefits of big data finally within reach, you can achieve better marketing conversion rates and improve your marketing ROI.