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Data capabilities affect almost every field in the global economy these days. Data and insights are the inevitable elements driving competition. There’s a huge amount of transactional data being churned out, and trillions of bytes are available about customers, operations, and suppliers. Innumerable network sensors get attached to different physical devices like mobile phones, and other digital and mechanical equipment. It helps understand, create, and also communicate in the online world.
Advertising companies get to serve their ads and establish digital interaction with millions of browsers. In the process, they generate huge amounts of data worth studying for optimizing campaigns resulting in higher user engagement. The data is also helpful to drive programmatic platforms and they deliver marketing results more accurately than the marketers.
Different interactive platforms like social media websites have huge user base which is generating big data. With multimedia growing, content is found playing a major role in the rapid growth of data. In this highly digitized world, people are involved in browsing, communicating, searching, distributing, and thereby, creating huge data trails.
Every customer today expects and demands direct, relevant, and authentic communication. Marketers may have their restrictions, but they now have the capacity of creating experiences based on user’s preferences. However, if the content served is fragmented, irrelevant or invasive, it might drive customers away, negatively impacting their engagement with the publisher or the brand. Improved accuracy in data analysis algorithms can help prevent that. Hence, most marketers are striving to improve their ad targeting through programmatic solutions which allows them to take decision in real time based on numerous data parameters.
Surveys have revealed that nearly all marketers find data to be extremely vital in efforts of customer experience and advertising. According to one survey conducted by the Winterberry Group and GlobalDMA, these figures are worth observing.
Fig 1: Areas where data is used (in %)
Fig 2: Top priorities in data marketing
Fig 3: Popular channels used for consumer engagement
With huge amount of data explosion worldwide in all companies in all sectors, no wonder the advertising industry is strongly addicted to data.
