Big data has become very popular among marketers. However, smart data has assumed the mantle as advertisers move from big talk toward the proper application of data to marketing strategies.
That’s the line from Yahoo!7 and Inivio. They have an aggregated data set and reckon it is both big and clever when it comes to attribution. Both of these parties think they can “bridge the gap” between online and offline via new targetting and multi-point attribution. Their combined data set wraps in census-based and location data (geo-demographic) plus insights, database matching and targetting.
Yahoo!7 says overlaying Inivio’s on and offline marketing insights and segmentation tools with its online data will help advertisers better target and measure online advertising across its network and beyond. Talking about the partnership with Inivio, Yahoo!7 stated that “data isn’t getting bigger, it’s getting smarter.”
Inivio director of client engagement Richard Harris said the change from big data to smart data has already happened. In presenting the new product to agencies and advertisers, ‘big data’ hasn’t cropped up once. Instead advertisers are getting down to the heart of how can they use and apply the data to marketing strategies. He said it the partnership was all about reducing wastage, targetting the right individuals and recognising the channels that acted as the conduit.
“Last click is the bane of the market – we all know inherently it’s about the marketing mix. [The partnership means] we can get campaign metrics back from Yahoo! on an individual level and we can link that back to the campaign audience and track conversions. Even if the clicks didn’t come directly from Yahoo! we can show the correlation between impressions served and a conversion at the back end. It’s a good opportunity for marketers to understand where they are getting value and attribution from” said Harris.