Artificial Intelligence(AI) is driving the world of marketing and advertising. In this process, network analysis is going to play a big role.
Slowly we are moving from traditional data analytics to the most charming data science in a way that we are moving from traditional marketing to digital marketing. As a result of it, companies become smarter in catering to the needs of their customers, in predicting their sales volume, resource needs, the next problems, the right recommendations and in automating many manual processes.
Before going further here is a snapshot of the latest artificial intelligence(AI) application in marketing:
Search improvement for digital marketing and e-Commerce has improved due to the Artificial Intelligence involvement.
Because of the auto suggestions based on the interests, in the future, consumers can expect more and more eCommerce and other relevant sites to follow.
Marketing data insight is one of the most straight-forward marketing applications of business intelligence, a capability much enhanced by developments in AI.
For digital marketing professionals, it is important to know the networks of their potential customers.
“In layman’s terms, a person is most likely to be an average of his most connected friends. We can send the right recommendation (of discount, offer, coupon, event invitation) to our customers; and as a result of it, conversion ratio ( a measurement which reflects the impact of the marketing campaign) can be dramatically improved.”
When we are doing influence marketing, we need to know main influencer of the brand and pattern of their mentioning the brand at regular interval. It will help us get the right strategy for the companies. Let us have a look at key words of network analysis/digital marketing. Graph has been taken from graph theory to emphasize that rigorous mathematical analysis will be applied as opposed to the relational representation in the social network.
Companies like Facebook has achieved online dominance through strong grasp on both the interest graph and the social graph . Facebook is growing their advertising business by leveraging the knowledge of social and interest graphs.