We’re in the era of Big Data, but we may as well call it the era of Big I Have No Clue. A new study out by the University of Maryland, Teredata and Mzinga found that 42 percent of respondents are unfamiliar with big data technologies, indicating businesses have a less than firm grasp on understanding how to implement analytics. A separate study, by CSO Insights found that more than 80 percent of participants feel challenged by the amount of data that’s out there.
Clearly, brands are awash in data and often find it difficult to not only understand what they’re seeing, but analyze the information to make better decisions for their constituencies all in real time. Of course, real-time data changes the speed at which brands and publishers can target readers, and those who fall asleep at the wheel in this coming change will be affected the most.
Brands, it would seem, have the most to gain from data. Not just for targeting purposes, but checking the fire hose of information for brand reputation and management. For publishers, data presents unique opportunities and challenges on the business side — from noticing trends of its readers to presenting more precise targeting for advertisers. The problem is that publishers are not built to sift through the data. A solution: partner with companies who can help make sense of all the data streaming in.
More in Marketing
Marketers remain cautious about investing in Snapchat amid TikTok uncertainty
Snapchat is vying for ad dollars dedicated to creators, touting monetization tools and its Gen Z audience — but three agency execs say they are not seeing dollars move over just yet.
Bold Call: As Musk’s political clout rises, Twitter’s brand exodus could become a X’s brand influx
Some of those advertisers have been quietly considering a return for a while.
Inside the debut Super Bowl strategies of Häagen-Dazs, Duracell and MSC Cruises
Häagen-Dazs, Duracell and MSC Cruises are each making their Super Bowl debut, with different business aims and media strategies. Bottom line: they believe there’s value in $7 milion for 30 seconds.