Big Data without Big Measurement will not create competitive differentiation.
TruEffect, an online advertising data and technology company, has recently published a manifesto about the gap that exists between the technology of Big Data and proving the impact Big Data investments can have on the advertiser’s business. That is what the author, Martin Smith, Senior Vice President and General Manager of Platform Services at TruEffect, terms Big Measurement – the guiding principles of effectively organizing data and capitalizing on technology to measure, inform, and make new and better decisions in advertising that can finally prove the case for digital advertising.
“Big Data with a corresponding focus on Big Measurement is an opportunity to establish a competitive advantage,” says Smith. “Big Measurement is about challenging organizations to look at not just how to tame data but how to really apply it in ways that make a positive impact on Key Performance Indicators.”
By focusing on what to measure rather than how to store data, the Big Measurement manifesto defines a set of principles that offer CMO’s a framework to move forward towards a measurement model that delivers an effective ROI on Big Data investments. These principles include:
Successful marketers must be able to separate existing customers from new visitors, and understand the ROI in marketing to each. According to Smith, “Most digital advertisers invest far too much capturing demand and not nearly enough creating it.” Large advertisers will typically have customer relationships with 25% + of the market exposed to their digital advertising. In response terms, those 25% will drive 63%+ of actual sales.
Customer data ownership that accompanies a Big Measurement focus assures the largest impact-driver in the marketing mix isn’t ignored. Big Measurement is available as a free download from the company’s website at www.trueffect.com.
Read the Big Measurement eBook (pdf)
TruEffect (www.TruEffect.com) is a data and ad technology innovation company, specializing in First-Party data. Our patented technology platform gives advertisers and agencies unmatched improvement in display advertising performance and cost of performance. As the only company able to seamlessly deploy First-Party data web-wide, TruEffect offers audience targeting, audience measurement, audience data mobilization, and ad serving. TruEffect services are available on a hosted, managed, or licensed basis.