Algorithmic Marketing as a replacement for traditional Marketing Research

Abstract

The purpose of this paper is to evaluate an emerged trend of algorithmic marketing as a technological framework for automating marketing strategy, research process, delivery of innovative analytical approach with potential to take over traditional marketing research. Furthermore, evaluation of marketing industry applied scientific modeling methods is presented in order to ameliorate operational efficiency along with stakeholder’s experience and to reach understanding, which technical knowledge areas would require to pursue a career in marketing research for future years during the informational era.

Essentially, this work identifies intersection and differences of scientific programming, statistical data manipulation techniques of algorithmic marketing and guiding frameworks of marketing research that for the past decade have established new market standards with sophisticated algorithms, technological advancements, while release of surprising techsolutions has rarely gone unnoticed by the wider public. In addition, possible scenarios of use for the technologies in the service sector are outlined and the reader will find a solid analysis for the deployment process of marketing research for reaching new solutions and, finally, showcase potential development fields and applied functions in the marketing domain under evolved field of “Big Data” technology. The experience of successful implementation of these technologies by companies is demonstrated for further innovative development, along with the assessment of opportunities and limitations of rising industry.