2013’s hottest career was the social media marketer. For 2014, it was the data scientist. Data mining and statistical analysis hit the top of the charts. We live in an increasingly data driven world, which is good news for people with skills in data mining and statistical analysis. In fact, if trends hold, McKinsey reports that there will soon be a shortage of people with deep analytical skills.
Information is everywhere; data mining comes in to help understand their data better. In retail, consumer data has become increasingly important to understand, especially faced with heavy competition from giants like Amazon. Being able to understand customer data to predict trends is what sets a great retailer apart.
According to a recent report by Gartner, within five years, CMOs will be spending more on IT than CIOs. Since the explosion of social media, the power and virality of information is more apparent than ever. Marketers are smart to follow the trail of data, and more data is available to marketers than ever before. It’s not a surprise, then, that marketers are buying more technology now than in the past. Data is everywhere, and marketers want to get their hands on it.
While marketers are getting more accustomed to seeing all the data gathered from the latest platforms, dashboards, and apps, bringing in a data analyst to the marketing team will make a world of difference. Data mining, analysis, and science brings marketing efforts into perspective in order to make better, more impactful decisions in a company. Understanding data also helps marketers better understand the risks involved in their campaigns. As we keep reminding readers of this blog, any marketing decision made without data science is a mistake that marketers can ill afford in this competitive landscape.
What’s next for 2015? It seems unlikely that data mining will get edged out. After all, even the White House appointed a Chief Data Scientist early this year. In the vein of Mugatu from Zoolander – Data Science, so hot right now!