In today's brutally competitive world, what sets businesses apart is their approach and use of predictive analytics and smart data. With gaining an edge over competition at stake, marketing analytics can be the differentiating factor powering the business forward. The immense possibilities this presents will be explored by Mario Vinasco, Marketing Analytics and Data Science expert, Facebook, in his session at the Smart Data Summit 2015. With over 18 years of years of progressive experience in data driven analytics with emphasis in database programming and predictive models creatively applied to eCommerce, advertising, customer acquisition/retention and marketing investment, Mario specializes in developing and applying leading edge business analytics to complex business problems using big data platforms. Some of his major projects include ad-effectiveness measurement of Facebook’s brand marketing activities, and product campaigns for key product priorities.
In an interview in anticipation of his talk at the event, Mario talks about marketing analytics’ growing importance as an important tool for driving business success –
How do marketing analytics impact specific industries such as retail?
Marketing analytics focuses on attribution, or in other words, how specific campaigns, products or features affect customer behavior; experimentation is key and retailers need to constantly tailor messages, offers, channels, and experiences; this is where marketing analytics can be an advantage.
Can you highlight some recent examples of how marketing analytics have shaped product innovation, strategy and customer service across industries?
At Facebook, we constantly run experiments and evaluate how new products affect user behavior; we have learned what messages resonate better with specific user segments and have launched products that are very engaging, all based on results from experiments and from attribution.
In your opinion, have analytics truly become the backbone of marketing strategy everywhere? Or is there still room for more?
Marketers and CMOs realize that closely partnering with analytics brings a clear advantage and facilitates achieving their objectives. In the tech industry in the USA, there is strong demand for analytics in marketing, but in my opinion, other industries are still far behind.
Facebook relies heavily on analytics. Can you tell us how Facebook has driven product decision and enhanced customer delight through analytics?
At Facebook, our mission is to connect the world, make it more open and enhance relationships. We evaluate quantitatively how new products contribute towards that mission; we run customer surveys, experiments and models, that constantly shape decisions. Recently, we shipped a product called "Say Thanks" and over 200M videos were shared. We ran a cluster experiment to understand how the product was received and how it enhanced relationships.
Are there any particular strategies that have worked for you in the past?
In analytics in general, it is very important to understand very well the business that is being supported; at Facebook, I am a passionate user, understand its mission well and also understand the marketing's mission well.
What are your expectations from the 2nd Annual Smart Data Summit 2015?
Networking with international audiences and learning from their experiences is one of my objectives, in addition to sharing mine and receiving feedback and questions; I see this as a great learning experience.
The Smart Data Summit 2015 will be held in Dubai on May 25-26, 2015 at Sofitel Dubai The Palm Resort and Spa. Hear Mario Vinasco speak at length at the event, on applying analytics the smart way to influence decisions, quantifying the success of new consumer products and using analytical tools to make a resounding impact.
Visit www.smartdatadubai.com for event details.
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