The future of Multicultural Marketing

Natasha Pongonis, Columbus’ entrepreneur and CEO of OYE! Intelligence recently participated as a featured speaker in one of the largest and “must-go” events of data science in the world, Open Data Science Conference 2018 (ODSC). The ODSC brought some of the best and brightest minds in data science to present, make connections, and learn the latest trends in the industry. This event took place in Boston and the conference goal was to help foster the exchange of innovative ideas and encourage the growth of open source software.

The Future of Multicultural Marketing

This event is a platform to discuss the latest artificial intelligence (AI) & data science topics. Its speakers included some of the core contributors to many open source tools, libraries, and languages. Experts from Bank of America, United Health Group, Biogen, Wayfair, Google, Uber, among others, were part of the speaker lineup sharing their knowledge from machine learning and data visualization.

Meanwhile, motivated by the fact that more than 40% of the U.S. are diverse (non-white Americans), Pongonis was selected to discuss Data-Driven Insights: the Future of Multicultural Marketing.  The presentation included demographic and psychographic insights among different ethnic groups thru OYE! big data analytics and market studies. Some of the key topics during the presentation were:

  • US multicultural population and use of technology
  • The increase in multicultural buying power
  • Data Analytics: Demographic and psychographic data insights from online multicultural users
  • Real-time data analytics among influencers: Tracking the pulse of multicultural conversations
  • Case Study: Insights about online US shoppers with Henkel Corporation

The future of Multicultural Marketing

The emphasis of the presentation was that the future of multicultural data-driven insights resides on the deep understanding that users may share the same language but values, traditions, and buying habits are directly connected by their country of origin or ethnicity.

“The ODSC conference was a great opportunity to not only present on the importance of multiculturalism and data analytics but to also learn the latest in AI and open data as well as meet several of today’s most influential people in tech,” said Pongonis.

Multicultural Marketing & Data Analytics: Important?

Multicultural populations overall are growing more rapidly than the white population, and those groups are more likely than whites to live in multigenerational family households. Because the median age of the multicultural population is lower and the life expectancy longer than those of non-Hispanic whites, these consumers have significantly more effective years of buying power ahead of them.

Driven by population growth and expanding buying power, multicultural consumers are transforming the ways marketers and advertisers use culture to connect with increasingly diverse consumer markets. Therefore, brands are increasingly looking for in-depth insights among these diverse groups and data analytics can help them to better understand the changes in population.

The future of Multicultural Marketing

It’s critically important today and in the future of digital communication and effectiveness of creating meaningful interaction with an audience, which is called “social engagement.”

About OYE! Intelligence

OYE! Intelligence is a solution that provides organizations with unique insights through online conversations among multicultural users, regardless of the language they speak, geography or level of influence. It focuses on using data-driven insights to guide the development of digital communications strategies. Through OYE! software, clients are able to identify and communicate real-time with social influencers in their specific industry.

OYE!’s mission is to develop a machine learning process to help organizations better understand the dynamic changes in multicultural populations and ultimately bridge the communication gap that exists today between the mainstream and minority groups.

The future of Multicultural Marketing

OYE! Intelligence Product: Influencer Tracker

The future of Multicultural Marketing

A backend view of how to select influencers using OYE! software

 

 

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Produced by OYE! Business Intelligence, LLC 2018