Ask an Analyst, particularly a Digital Analyst, how they’d like to develop their career, and they are quite likely to tell you that they want to get into Data Science. But in fact the two disciplines (if they can even be described as separate disciplines) overlap considerably – some would even say completely. So what is the difference between Analytics and Data Science?
There’s a lot of buzz about Data Science these days, and especially its super-cool subfield, Machine Learning. Data Scientists have become the unicorns of the tech industry, commanding astronomical salaries and an equal amount of awe (and envy) to go with them. Partly as a result of this, the field has developed something of a mystical aura – the sense that not only is it complex, it’s too complex to explain to mere mortals, such as managers or business stakeholders.
It’s true that mastery of Data Science involves many complex and specialized activities, but it’s by no means impossible for a non-Data Scientist to build a good understanding of the main building blocks of the field, and how they fit together.
The relentless rise of social networks in recent years has made many marketers familiar with the concept of the social graph—data about how people are connected to one another—and its power in a marketing context.
Facebook’s social graph has propelled it to a projected annual revenue of around $40B for 2017, driven primarily by advertising sales. Advertisers are prepared to pay a premium for the advanced targeting capabilities that the graph enables, especially when combined with their own customer data; these capabilities will enable Facebook to snag over 20% of digital ad spend in the US this year.
Partly as a result of this, many marketers are thinking about how they can exploit the connectedness of their own customer base, beyond simple “refer a friend” campaigns. Additionally, it’s very common to hear marketing services outfits tack the term graph onto any discussion of user or customer data, leading one to conclude that any marketing organization worth its salt simply must have a graph database.
But what is a graph, and how is it different from a plain old customer database? And if you don’t have a customer graph in your organization, should you get one?