Data science meets marketing

Yesterday November 15th, I was intending Aalto Marketing Society event in Nave Jerry where my former colleague Dr. Antti Vassinen Director of Data Sciences from Annalect, part of the Omnicon Group, gave a talk to students and managers from greater Helsinki area. Antti (second left in the picture) is inspiring speaker who has insights from business, practice and academia.

 

navy-jerry-aalto-marketing-society

Most of us know that the more traditional advertising companies are selling advertising space and creative solutions and often it is up to the client to figure out how things are working.  Well, if you want the premium inventory e.g. first page of Helsingin Sanomat and their website, those are difficult to acquire without help of professionals.

Annalect, like some other digital analytics companies, are providing services to first understand the company baseline in marketing actions (e.g. where, how and when marketing activities e.g. banner, email etc. digital advertising or newspaper advertising were done previously and with what impact). Baseline provides the starting point from which they provide guidance and prediction what could be done to improve the earnings of each euro invested in marketing activities. Hence, marketing performance becomes a bigger issue and digital analytics, like those discussed by Dr. Joel Järvinen in his dissertation, are of increasing importance.

As Annalect is focusing their research and development efforts to managing publicly open data and their in-house data they can use those to enrich their customer’s data. Having said that, there are of course legal and other technical issues that need to be solved in each case.

Besides, data enrichment and customer insight their latest addition to their services is kind of a segmentation tool with 300 or so ready customer segments. This, is helpful for startups who might not have segments ready but also for more established companies were segmentation insufficient or done wrong.

Overall, I can say that the lively discussion with Antti and the students improved my understanding of the field of Finnish digital advertising specifically and then the data infusion and challenges in the machine learning and algorithm development.

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