Why is data science a necessity in digital advertising?

Data science has established itself as a pivotal factor in digital advertising success.

In the world of digital advertising, businesses are always looking for ways to maximise performance. This is where data science has proven itself as an indispensable tool for advertisers.

Data science and digital advertising

Data science can be used to identify and group audiences based on specific attributes. This helps you focus your efforts on an audience that is more likely to convert. Here’s how you can use data science in digital advertising:

Unlocking seasonality

By examining historical data and identifying patterns, it is possible to uncover seasonality. This knowledge enables informed decision-making when adjusting campaign budgets. You can determine the periods when your target audience is typically more engaged. This enables you to strategically adjust your budget on specific days of the week.

To prevent resource wastage during periods of reduced customer activity you can reduce your budget. Conversely, strategic increases in campaign budgets can be implemented during peak periods. By unlocking seasonality in day of week and time of day, you can enhance decision-making and improve resource allocation.

Customer segmentation

Data science can be used to identify and segment audiences based on specific attributes. 

Customer segmentation enables you to focus your marketing strategies on the right audience: an audience that will likely convert. You can segment your customers based on various attributes, including:

• Demographics.
• Purchase history.
• Browsing behaviour.

By analysing these attributes, you can create targeted customer segments. You can use these customer segments to deliver personalised campaigns. By presenting customers with relevant products, your conversions are more likely to improve. 

Predictive modelling

Data science enables the development of predictive modelling. Predictive models can be used to predict lead conversions, revenue and more. You can use predictive to improve the effectiveness of your advertising efforts.

These models help you focus on customers with higher probabilities of desired actions. This can lead to more efficient ad spend and improved campaign performance.

Optimisation and tracking

Data science techniques can be used to track and analyse various performance metrics. These metrics are used to track the effectiveness of campaigns. Some examples of performance metrics include:

• Impressions.
• Clicks.
• Conversions.
• Click-Through Rates (CTR).
• Cost Per Lead (CPL). 

Through statistical analysis, you can make data-driven decisions, and optimise your ads.

Data science makes sense of your data and helps you make data-driven decisions. Why aren’t you using data science to improve your campaign performance?