The Low-Down On Using Data Science And Statistics In Advertising
Data science and statistics in advertising are a prime example of how powerful big data can be in reaching more ideal customers.
The use of data science and statistics in advertising has grown substantially in recent years, especially as innovations in the field of big data analytics make it easier than ever before to collect and use data on a large scale. Despite the increasing digitization of the field of advertising, however, many professionals don’t know where to begin when it comes to making use of contemporary big data tools and machine learning programs.
Here’s how some of the most tech savvy professionals in the world of advertising have been using data science and statistics, and how advertising tactics will change in the near-future thanks to big data analytics.
It’s data’s world, and we’re living in it
There can no longer be any debate that we’re living in a data-centric world where virtually every business decision is made with the help of an automated software. Thanks to advancements in the fields of machine learning and data analytics, companies in just about every industry have automated their operations to some extent and have begun to rely on data when it comes to finding out more about their customers. Advertising is no exception, and actually remains one of the primary origins for innovations in data science and statistics that are disrupting the modern market.
Brands and publishers all over the world are flocking to the field of data science, for instance, when it comes to bolstering their images with the public and delivering a successfully advertising message. Despite the fact that many brands are now harnessing the power of data science to make inroads with potential customers, however, some in the field of advertising are still wholly unfamiliar with the big data revolution that’s got us to where we are today.
There’s still a cloud of uncertainty looming over targeted marketing practices, for instance, which have existed for many years but have only recently become so refined as to be indispensable for advertising efforts. The days of retro-marketing are long-passed, and the new age of advertising is going to be refined by elegant, precise marketing campaigns that target individual consumers with an astonishing level of accuracy. What’s even more impressive is that the technology that allows advertisers to do this is only going to get better, too, meaning today’s innovations will look like child’s play in but a few years’ time.
General statistics have long been an important part of the advertising world, too, but have been totally revamped thanks to digital technologies that make it easier for employees of all stripes to crunch immense numbers to gleam useful information from them. Where advertisers once had to rely on specialist to get statistics about their industries, for instance, they can now collect data themselves thanks to the boom in digital-device-ownership we’ve seen over the past decade.
Data science isn’t slowing down
If there’s one defining trait of the revolution in data science we’ve witnessed over the past decade, it’s that the trend of digitization and reliance on data science isn’t slowing down, and indeed is actually speeding up. Companies have gotten a taste of what it’s like to run their businesses with the help of big data, and they’re not going to be reverting to old ways of doing business anytime soon. Thus, advertisers who are still sticking their heads in the sand when it comes to making use of data science and statistics in the workplace need to adjust their ways or face annihilation in the market.
An uptick in the amount of attention advertisers are paying to automation practices will probably be the most noticeable side effect of this increasing reliance on data and statistics in the field of advertising. Many are actually beginning to speculate that the future of advertising is going to be dominated by automation, with ads getting generated and distributed to a diverse audience by lines of code that are much more quick and precise than a human worker could ever hope to be.
The complex programs that power this wave of automation need tons of data to survive and thrive, and aren’t quite at the level of sophistication that we’ll see them rapidly taking over the market. Nonetheless, no one can deny that the field of advertising is soon going to be inundated with a slew of programs that handle the more mundane jobs and tasks that many lower-level workers in the advertising industry currently manage.
With the benefits that advertisers can derive from automated practices and data-heavy advertising models, it should come as no surprise that the use of big data analytics and statistics is steadily on the rise in the world of advertising. As the tech word continues to churn out innovations in the field of data science, expect advertisers to get hit with a whole new slew of disruptive changes to their industry.