Marketing has come a long way from the days of focus groups and customer surveys. One of the most important developments has been the rise of predictive analytics, which has become accessible to a wide range of marketers.
So many new technologies are available to marketers today. Keeping track of all the latest developments can seem overwhelming.
These four important steps can help traditional marketers become experts in predictive marketing and reap the rewards for early adopters of a powerful new technology.
1. Prioritize business sense above mathematical skills
If you're considering signing up for a data science course, wait just a minute! Just like you don't need to know how an internal combustion engine works to drive a car, you don't need to understand the underlying math that powers predictive analytics to be a predictive marketer.
For predictive marketers, it's much more important to understand your business, your target market, and your customers than to be able to crunch raw data.
Even if you have the ability to uncover trends in huge piles of unsorted data, you need an entirely different skill set to draw meaning from these trends and turn them into market strategies, product ideas, and successful campaigns.
Moreover, new technologies can increasingly do a lot of the number crunching that once was the job of data scientists. These technologies keep the complicated math "under the hood" and present insights in a way that savvy marketers can easily understand and use.