Prash Majmudar

CTO / GrowthIntel / @prashmaj

Order of Play

What is data science?

What problems does it solve?

Okay but what marketing problems does it solve?

What can I, the humble marketer, do with this information?

Life-changing takeaways

What is data science?

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It is / a method of deriving insight, meaning and value from large amounts of data. For example: / all your marketing data / big external datasets / a way of emulating human-quality research at scale. For example: / browsing the websites of every potential prospect and deciding whether or not they’re in segment

What is data science?

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Big Data

Data science is how you extract value from

using certain tools, such as:

Your CRM

Machine learning

Natural language processing

Data mining

What problems does it solve?

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Loads, but examples include: / Predicting churn / Basket abandonment / Who in the company you should be targeting / What products you should be selling / Predicting value

What marketing problems does it solve?

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What marketing problems does it solve?

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What marketing problems does it solve?

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As we’ve said, plenty. But these are the big two: 1 It can extract enormous value from your CRM / Usually a mash-up of closed-won/losts, customer surveys, marketing automation and data bought in from third parties / Data science can derive insights, and thereby bring value, to this otherwise overwhelming and often messy dataset

What marketing problems does it solve?

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As we’ve said, plenty. But these are the big two: 2 It can find all your best prospects (outside your CRM) / Companies House data, SIC codes, are out of date, inaccurate and incomplete (but it’s not their fault – they were never meant for this purpose!) / They cause huge problems for sales and marketing further down the funnel / Poor conversion rates / Time spent calling the wrong prospects / False picture of your market

How does it solve those problems?

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By emulating human-quality research at scale: / It removes the need to rely on SIC Codes / Instead it allows you to rely on primary sources of data / any text placed online, such as website source code / This gives you a much more accurate overview of your market / And it’s not just about who, but about when

What can I do with this information?

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Collecting primary sources of data and deriving insights from it is not a job for marketing. / Companies who provide this solution often call themselves ‘predictive marketers’ / Massively overused term… / Marketers have been predicting for as long as marketing has existed / Some PMs also buy-in third-party data, meaning you’d be back to square one, but a bit poorer

What can I do with this information?

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How to choose an effective data provider: / Some questions you must ask: / “Do you have full coverage of my market?” / “Do you use SIC codes or do you have a different way of representing industries/sectors?” / “Do you measure the accuracy of your data?” / “How often are these metrics updated?” / “Are you reliant on third-party data providers?”

Life-changing takeaways

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There are plenty of reasons that data science is important, but the single biggest reason it matters to marketers is: / It means having high quality market data / And as long as you ask the right questions, you will: / Get a more accurate picture of your market / Spend less time contacting the wrong prospects / Increase conversion rates/rate of first meetings

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Questions?

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Time for a drink Thanks and see you next time