Data and analytics are almost a compulsory department in today's organizational structure in order to stay relevant. A data-driven mindset will save the company $ by investing in the right places and measuring effectively against their forecasts.
We recently sat down with Raunak Kumar, Marketing Analytics Team Lead at Atlassian, who will be speaking at Marketing Analytics & Data Science West this summer. He spoke to us about the biggest data science trend of 2020 and why a data-driven mindset is so important to embed into organizational culture.
Being an early member of the team, he has led many of the foundational analytics models used to track the customer journey at Atlassian. In his role, he helps drive growth Atlassian IT solutions business by leveraging customer segments and partnering with Product Marketing teams to optimize end to end funnel experience of new and existing customers.
What is the biggest data science trend of 2020?
RK: Data Science and in particular Natural Language Processing (NLP) has made major advancements. I foresee, more use of NLP to analyze regular business analytics for example website content performance by content type.
Why are data science and marketing analytics powerful when they work together?
RK: Data science models user behavior and unlocks improved ways to market to prospects. Marketing analytics can utilize these models to better calculate ROI. For example, instead of rule-based attribution we can better calculate attribution by using Markov model chains for funnel conversion.
How has data science changed the world?
RK: Data science is fundamentally changing things by giving us personalized experiences. ML models effectively categorize user behavior and applications use it to offer an engaging experience.
Why is a data-driven mindset important to embed into organizational culture today?
RK: Data and analytics are almost a compulsory department in today's organizational structure in order to stay relevant. A data-driven mindset will save the company $ by investing in the right places and measuring effectively against their forecasts.
What has been the proudest moment of in your career?
RK: I am particularly proud of my work which helps define product marketing managers roadmaps and when the goal we set for an initiative is materialized by successfully executing the tactics.
What is the most valuable piece of advice you hope attendees will take away from your MADS West session?
RK: To better segment their customers and craft effective data-driven personalized marketing strategy.
Don’t miss Raunak’s MADS West session “How to Create Actionable B2B Customer Segments Using First-Party Data Analytics in a Post GDPR World” on July 30th at 10:00 AM PST. Over the course of three days, discover the infinite possibilities that emerge when data science, marketing analytics, insights, and marketing executives break down silos and work together to drive bottom line impact across an organization. Learn more and register here.