data science in digital marketing - forest cassidy, leadferret

Data Science in Marketing Forest Cassidy, CEO LeadFerret, Inc.

What is Data Science?

Wikipedia: “Data science employs techniques and theories drawn from many fields within the broad areas of:• mathematics, • statistics, • operations research,• information science,• and computer science….

…Wait, there’s more• including signal processing, • probability models, • machine learning, • statistical learning, • data mining, databases,

• data engineering, • pattern recognition and learning, • visualization, • predictive analytics, • uncertainty modeling, • data warehousing, • data compression,

• computer programming, • artificial intelligence, • and high performance computing.”

Drew Conway’s DefinitionAuthor of Machine Learning for Hackers and co-founder of DataKind

• Business intelligence is querying the past, while data science is using data from the past and present to build models to predict and/or affect the future within a scientific framework.

• Ask what if questions, then answer them based on observed and measured patterns.

What do Data Scientists Do?

• Data scientists use a scientific approach to refining big data into products, intelligence, and action.

• They use a scientific method not unlike the one you learned when creating your 7th grade science fair project.

Data Scientist Skillsfrequency per 1,000 social profiles with title =“data scientist”

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What is Big Data?

• Big data is not just about the size of the data, it’s about:– Volume– Variety– velocity

• Big data in its purest state is like noise, everywhere at once, never at rest, and continuously moving extremely fast.

Examples of Data Science at Work• Google 2009: Predicts which

regions of Mexico are at highest Ebola risk based on flu related searches

• Google’s page ranking is data science

• Google uses data science for ad targeting

• “You want to connect with this person” on social networks

• “You might also like this product” on Amazon, Netflix, Etc.

Examples of Data Science at Work

• Video games• Voice recognition• Fraud detection• Airline route planning• Price comparison sites• Delivery logistics• Coming soon: self driving

cars and robots

Examples of Data Science at Work

• Predicting which content will resonate

• Predict which social networks your prospects are likely to be listening on

• Predict which offers will work with which customers

• PPC Optimization• Retargeting Optimization

Data Science in Marketing• Churn prediction• Email campaign optimization• Custom messaging• Message timing optimization• Identifying patterns in

customers and prospects

• Start with a question and hypothesis

• Compile the data to test your hypothesis

• Maintain your control• Query the data• Analyze your results• Draw your conclusion• Take action accordingly• Tweak and start over

Identifying Patterns in Customers and Prospects

Start with question and hypothesis:• Question: Are marketers using marketing

automation software more likely to use LeadFerret.com?

• Hypothesis: Yes

Identifying Patterns in Customers and Prospectsdisclaimer: pseudo-data science

Compile the data to test your hypothesis:• Compiled 200 million+ profiles from Linkedin.• Identified marketing professionals by title.• Determined those using marketing

automation based on page scans and/or social profile content.

• Match these records to the LeadFerret user base.


Maintain your control(s):

• Determined the likelihood of any of the 200 million individuals being a LeadFerret user.

• (450 per million) • Determined the likelihood of any marketer in the 200

million being a LeadFerret user. • (2.7 million marketers, 12k per million use

LeadFerret, or about 32k)


Query the data and Analyze your results:• Determine the number of marketers using marketing

automation.• (1.05 million of 2.7 million)• Determined the likelihood of any 1.05 million marketers

that use marketing automation using LeadFerret. • (22k per million use LeadFerret, almost double the rate

of marketers in general)


Draw your conclusion:• Marketers using marketing automation

are more likely to use LeadFerret.


Take action accordingly:• We now identify marketers using marketing

automation and target them more rigorously.


Tweak and start over:• Now looking to see if specific marketing

automation users (Act-on, Hubspot, Marketo) have higher conversation/adoption rates than others.

Good Data science should never end.


Questions? LeadFerret.com866-535-3960@LeadFerret1 @[email protected]