Lotame's Ignite Americas Conference Focuses on the Power of Data

Data Attributes Have EvolvedThere is so much information available from first second and thirdparty data that the parameters of what constitutes a valuable dataset have evolved amp160Previously data size was one of the paramount requests amp160Do we have a large enough sample approaching census that will get us stable results amp160Now with the complexity and sophistication of data availability the wants have shifted from size to data quality amp160The components of data quality are transparency do we understand the data attributes and origins accuracy are we getting actionable successful results and performance do the results deliver on the KPIs andor ROIData expert Joyce Lee Director Global Data Sales Strategy Oath has seen her role evolve from accumulating thirdparty data to finding ways to quotsync all firstparty data in the Oath familyquot amp160Data stitching is like cooking she noted from having the right ingredients to blending them together to serving a final perfect resultMichelle Mirshak Vice President Data Architecture and Platforms Spark Foundry noted that quotsome of our more sophisticated clients are asking us to normalize data across channels to better track performancequot as the data is analyzed in a more holistic way amp160The importance of data quality cannot be understated amp160Whether it is third second or firstparty data quotit all comes down to performancequot because quality is not just a firstparty data attribute she saidData from Collection to InsightsAlejandro Matos Digital Marketing Director Omnicom Media Group Dominican Republic and The Caribbean explained the challenge he faced in generating insights for a local retailer who had limited data on its online consumers amp160His work in capturing data that explained the consumer journey focused on a variety of sourcesamp160 placing beacons in various locations in the store launching a DMP capturing CRM on social media and on apps placing pixels in banner ads and gathering data on mobile emails and websites from multiple sources and then matching it with third party data before modelingThe result was the ability to more clearly understand the consumer journey but it was putting the collection structure into place that made all the difference amp160Is every data project unique and custom Not necessarily according to Matos amp160The collection methods may be similar across clients but the insights and stories that can be crafted from the data even from similar data sets will differA Move from Legacy Metrics to Segmentation and AttributionWith the availability of sophisticated datasets it is time for the industry to move away from legacy age and gender demographics amp160According to Chris Frazier Vice President Business Intelligence Cadent Network his company uses data to amp8220build what that audience will beamp8221 by building out a target consumer beyond age and gender to amp8220reach the intended target at the right timeamp8221 amp160He added that linking to linear TV using traditional Nielsen to digital platform performance is a challenge impeding the ability to measure and guarantee standardizeable sales deliveries across platforms amp160amp8220We would like to see uniformity in how we measure impressionsamp8221 he saidamp160 amp8220Is it two seconds amp160Is it a minute amp160We want to see industry standardsamp8221 amp160When it comes to addressable attribution is key amp160amp8220Attribution allows you to connect your exposures to where the sales areamp8221 he added amp160amp8220Itamp8217s a measure of ROI to media spendamp8221amp160The TV industry is beginning to embrace the use of consumer data in measurement in conjunction with demographic data enabling cross platform measurement amp160The need for a holistic unified view of audiences and campaigns has never been greater and is essential for the evolution of the advertising industryAs data advocate Andy Monfried Founder and CEO Lotame concluded in his opening keynote the requirements of a DMP are to unify disparate datasets to target the right audiences extend a brandamp8217s position to find and reach new customers and to better understand a consumer journey through greater personalization amp160This requires internal buyin retaining talent and aligning the strategic corporate vision to better understand and execute on the data insights amp160We are at the beginning stages amp160It should be an exciting and groundbreaking time going forwardClick the social buttons above or below to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writersamp160

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Lotame's Ignite Americas Conference Focuses on the Power of Data

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Charlene Weisler

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Lotame's Ignite Americas Conference Focuses on the Power of Data

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Charlene Weisler

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