Marketing is analysis on large or small set of data on the other side to understand the importance of emotions is also very important. This article explain it well let see.
Lauren deLisa Coleman is a digi-culture trend analyst specializing in the convergence of popular culture, emerging tech and the impact on business and governance.This post originally appeared on the Geckoboard blog.
For a job title that barely existed three years ago, the role of a data scientist and the data-driven strategies they develop have become crucial tools for todays marketing executives. In fact, according to a recent study by KPMG, more that half of the CFOs and CIOs polled said that big data was drastically changing their business strategies.
Were swimming in a sea full of data. The key is how to turn it into useable information.
Whether were feeling outrage or having a LOL, its through storytelling and sentiment that brands drive engagement; understanding how this works can prove even more complex than analysing the numbers. Companies, both large and small, are recognising the importance of adopting both elements.
In a 2014 Marketing Trends Survey, marketers ranked sentiment as the third-most valuable element to be extracted within data-driven strategies, after web behaviour and browsing behaviour.
So, how do you crack the code of balancing data and emotion within a brand strategy today, while also meeting the challenges of tomorrow?
Wired magazine recently reported that, despite significant advances in computer-facilitated learning, it is still difficult for these machines to understand and process natural language, automate sentiment analysis, or determine ambiguous context.
However, as Onolys Emad Hasan, previously analytics product manager at PayPal, points out:
Given the progress of technologies such as Natural Language Processing (NLP) and social media, brands have the opportunity to pinpoint levers that are most relevant to them today. Companies like Quantified [an analytics platform forecasting consumer actions in the real world] are leading the way by using complex signal processing and Neuro-Linguistic Programming.
Being able to access and decipher language, and therefore emotion, has become the holy grail for todays marketing executives. As Matt Wallaert, Behavioral Scientist at Bing, explains, we now know emotions are a huge factor in how people make decisions not just what they think, but how to think, which is the key distinction that marketers are just now catching up to.
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