Analysing data is about finding models and behaviours of real people. Some new Fintech-companies are trying to find hidden “formulas” about how people behave and act. Eg.: people who play online-poker often use certain fonts. These insights can help companies to evaluate future customer-behaviour and future ratings.
In order to be able to get the most out of these analytics, Data Scientists and Marketing People should work togehter. Why? Because the knowledge of both departments is necessary to come to the right conclusions.
Data Scientists Know-How: Data scientists use the ability to find and interpret rich data sources; manage large amounts of data despite hardware, software, and bandwidth constraints; merge data sources; ensure consistency of datasets; create visualizations to aid in understanding data; build mathematical models using the data; and present and communicate the data insights/findings.
Data science techniques affect research in many domains, including agriculture, the biological sciences, medical informatics, health care, social sciences and the humanities. It heavily influences economics, business and finance. From the business perspective, data science is an integral part of competitive intelligence, a newly emerging field that encompasses a number of activities, such as data mining and data analysis (Wikipedia, Data Scientists).
Marketing Know-How: Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product’s value to the customer. From a societal point of view, marketing provides the link between a society’s material requirements and its economic patterns of response (Wikipedia, Marketing).
Linking the societal knowledge of Marketing with the technical capabilities of Data Scientist will drive customer insights to a new level.
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