The Business Challenge
Data science has been, and will continue to be, in high demand—and the competition for talent will not let up any time soon.
Even if you build a Data Science team, you need to put a set of hypotheses in front of them. If your data scientists don’t understand marketing and advertising (and they typically will not), realizing the full value of your investment in that team is made that much harder.
To be effective, data scientists need to understand what questions to answer. They should be able to connect the dots between the availability of first-party data and third-party data. Effective data scientists also should know the role of a data lake or customer data platform, understand the need to drive revenue growth and RoAS, and have a basic grasp on performance and brand-building channels. Finally, they must know how to explain insights through data visualization to communicate the learnings most effectively.
Only once those challenges are solved can data science answer questions that provide real, long-term business impact such as:
- How do we assign true credit to channels based on their incremental value?
- How do we identify who is our next best customer?
- How do we identify our next best action or personalized product recommendation for any given existing customer?
The Benefits of Solving It
When your business is clear about the kinds of insights that it wants to generate from data scientists using structured and unstructured data, it will benefit as follows:
- Establishing the right data foundation with the right single source of truth in a data lake or a customer data platform
- Prioritizing the right questions that have buy-in from all levels of your organization
- Setting up the process to run repeatable, regular analysis
- Deriving one-time insights and developing automated frameworks for better RoAS optimization and data storytelling within the organization—through the lens of data, not gut feelings
- Delivering better personalization in your advertising, app, or website
- Focusing on media incrementally, not credit
Our Approach to Data Science
- DELVE’s Consulting and Data Science teams will meet with you and your key stakeholders to align on key business objectives and collaborate on generating a vision for elevating analytics and data science.
- Together, we will identify and define marketing business problems blocking you from achieving your business objectives, focusing on revenue growth and RoAS optimization.
- We will lead prioritization with cross-functional stakeholders and guide the data science roadmap build-out process, balancing the level of effort against timing of value delivery.
- Solutions to business problems will be architected, scoped out, and tailored to your specific business and industry.
- Delivery of technical development work follows a structured process using industry best practices, with frameworks such as a data lake or a customer data platform.
- Throughout each step, DELVE stays laser focused on the ultimate business objectives and the impact that the analytical work will have on predefined success metrics.
- If appropriate, DELVE can help up-skill your internal team, or we can be retained as your “in-house” data science team.
- Clarity on feasible analytical solutions to common and uncommon marketing business problems
- Tangible phased roadmap with transparent investment requirements and clear view on business impact
- Organized and iterative value delivery with tangible RoAS goals
- Problem-focused solutions with technology that is 100% owned by you with little to no recurring licensing fee requirements
Take Control of Your Future
Are you ready to build a data-driven culture where your people, process, and technology become a competitive advantage?contact us