MIM-Kyiv Marketing Café: DATA SCIENCE and Better Performance

27 November 2020

Nowadays, marketing cannot do without data insights. Availability of data analysis tools for Ukrainian medium businesses was discussed at the traditional Marketing Café, this time online. Oleksiy Vynogradov, MIM-Kyiv’s VP and professor of marketing moderated the discussion.

Tetiana Katrych, founder and CEO of the Empower, data science and data management services provider, Serhii Venger, VP of the KIVI company, and Natalia Demydenko, head of the marketing communications and brand development of the FUIB bank were discussing how data insights can enhance businesses performance, and how to incorporate data analysis into marketing and shared their business cases.

Tetiana Katrych mentioned how Twitter data was used to measure the level of happiness of Americans. The outcomes of the research were used in the presidential elections. For marketing purposes, data science is an efficient tool for demand forecasting, ROI enhancement, and pipeline management. Her personal advice for medium business owners: "As soon something unexpected happens, start collecting the data and feeding them into your mathematical model. Thus you can learn how to manage circumstances and develop new processes".

Serhii Venger underlined that data science is an important element of business marketing that can position it in the market. “You can’t do planning without data insights. We use it for promo- campaigns. It is especially good when doing things with partners because you can secure performance,” he said.

Natalia Demydenko shared one of the FUIB cases. She told the participants that the bank uses econometric models that allow sales forecasting and correlations between the sales and investments. Natalia spoke about the importance of frequent measurements for forecasting the competitors’ actions and for machine learning.

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