Marketing data and analytics were always important, but now more than ever

Organizations are putting more emphasis on hiring data experts as the pandemic brings more customers to digital experiences.

We share the full results of our survey, five questions: forecast for 2021 until this week. But an interesting thing that we learned is that 11% of respondents said that most of the team’s spending goes to IT scientists and analysts.

Why are data scientists and analysts the most important? Marketers know that there is still a lot to do with data to prove ROI.

To discuss these and other trends, we spoke with Dimos Papadopoulos, assistant manager at Adidas Marketing Analytics, outside Adidas’s Netherlands office. He was able to provide commercial and international perspectives on the growing demand for data scientists, these modelers in the world of marketing.

MTT: Data analysis seems to be more popular now than it was 4 months ago. Why do you think this is it?

DP: In general, many companies were attacked when the whole pandemic started because their digital solutions were inaccurate or because even their employees were not ready to quickly improve their skills to resume the digital change it was bringing.

The pandemic led to a general shift towards e-commerce channels, as well as an increase in traffic and time spent in an already crowded space: the media. To properly assess the performance, success, and strategy of these activities, advanced analytical methods and data must be analyzed.

If an international organization is struggling now, we can imagine that even small and medium-sized companies that took a more traditional approach to digitization and analysis would have suffered a lot in the beginning.

MTT: What did you notice about the increased demand for data analysis?

DP: Personally, I have seen an increase in the demand for consumer evaluation, especially as companies try to serve their consumers and understand their needs through the programs they offer (be it CRM, subscriptions, etc.)

I also saw a further increase in perceptions and analyzes of growth. I believe many companies want to explore their offerings and unlock potential strategic insights about how consumers are responding to their performance marketing efforts, experimenting with their websites, exploring their offerings, and eventually converting. On the other hand, the growth is due to the fact that while demand is stable, it is slowly declining as innovation stops.

Of course, machine learning and artificial intelligence are indispensable for data analysis and automation, but using the vast amount of data a company already has and discovering models has been a big trend.

MTT: What do you see as the future of data analytics? Do you think there will be more demand for a specific part of the data analysis?

DP: I can only talk about my experience in digital marketing like a professional, but I see three topics that are regularly covered in the analysis and I think the future is here:

• Multi-channel allocation: Find the perfect model to determine which channel is monetizing to achieve the optimal ROI budget.

• Media mix modeling: Advanced analysis and measurement structures to understand the performance of each channel and its contribution during a campaign. Much research has been done on measuring and combining offline methods, such as online banners, shops, and television, where a wide variety of digital data is available. The future is seen when the countryside is increasingly integrated with nature.

• VR Analytics: See how companies are experimenting with AR / RV offerings and driving heavy traffic to mobile applications. However, a clear trend is the analysis of experiences and areas to unlock more technological innovation, especially in retail

MTT: Have you noticed that particular industry or industry has increased the demand for data analytics?

DP: Especially in retail, as they are very dependent on physical stores. However, retailers understand the current need for digital stores that are open nearly 24 hours a day. It also changed his analytical needs.

In recent years, government agencies and commercial banks have also increased their demand for analysis as it is very traditional in nature.

However, 2020 was a definition and I think it affected all sectors and industries.

MTT: What else do you see in the world of data analytics and data scientists?

DP: I’ve seen and heard from my industry colleagues, without evidence from the data, that the number of online rentals in the analytics industry has increased in recent months. I believe brands are analyzing the data they already have internally and trying to find new ways to connect with their customer base.

The analysis in the future will be strongly influenced by privacy legislation and legal implications (such as GDPR, CCPA, etc.), which will also lead to a greater demand for analytical specialists and tailor-made solutions for the execution of projects.

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