At AdExchanger’s recent Programmatic I/O conference, our Chief Data Officer Rolf Olsen spoke on a panel called “Data Accuracy and the DMP,” along with Jonny Silberman of Anheuser-Busch InBev, Oleg Korenfeld of Sparks Foundry, and Evan Adlman of Condé Nast – moderated by Ana Milicevic of Sparrow Advisers.
The panel opened with a question of what clean, high-quality data looks like, and why it is so important to the industry. In an ideal world, high quality should mean high performance. Namely, due to the accuracy of the data it should enables marketers to better reach, and ultimately deliver, a performance outcome – which could be stated as a cost per action, which in turn can be behavioral/brand-focused. For example, geo-location is one area where you can see a lot of variance, mainly as this data is collated in so many ways, with varying degrees of validation. Once data is collected, it is crucial to test it – we do this against regional samples from various vendors, and against client data whenever possible.
The conversation then led to data strategy, and how the quality of data factors into that. At Mindshare, we work with clients across a broad spectrum of data strategy, from 1st party data to third party, and always start with the client 1st party data. The key thing to consider here is that most businesses create and store data, and have done for a long time, but the use and application of this data is often a new venture, particularly in the world of DMPs.
Finally, the group discussed the recent change and consolidation of the DMP space. The standard definition of DMP has changed – it is no longer tied to just audiences (3PD, 1PD etc.), media, programmatic, and platform. The DMP now is an all-inclusive digital ecosystem with audience and creative in the center with the media delivery being the primary objective, combining a technology stack that encompasses a 360 view of media touchpoints.
Check out a full recording of the panel, and more from Rolf on this topic in AdExchanger.