Data Management Platform Vendors

Examining the breadth of  Data Activation: The Data Management Platform

One vendor, BlueKai,  defines DMP as:

" ... A DMP is a centralized data management platform that allows you to create target audiences based on a combination of in-depth first-party and third-party audience data; accurately target campaigns to these audiences across third-party ad networks and exchanges; and measure with accuracy which campaigns performed the best across segments and channels to refine media buys and ad creative over time.

Slice and dice your own online and offline first-party data to create audience segments for display, search, video, and social campaigns; apply it to ad campaigns targeting audience across the purchase funnel; and get visibility into the ROI each campaign delivered for each segment. ...  Marketers can pull in and analyze all audience data presenting a 360-degree view of how campaigns perform against specific target audiences. ... " 

Decisions, Data and Predictive Models: Conversations

Letting Data be Your Compass:  by Rob F. Walker. Nicely thought out piece on data, decisions and predictive models. Using the word prediction brings your models directly into the decision making process.  I always emphasize this in engagements.

I like in particular how he says prediction is not stand-alone, but relates to a conversation:  " ... What is required is a next-best action, real-time decision making that inserts itself in the conversation every single time something changes: when the customer is acting, reacting, or getting upset. Any such change should cause a re-evaluation of the state of the conversation, and possibly a change of tack ... " 

I use the notion of establishing a story line to a decision interaction, and mapping it out that way in early interviews.   Stories modified then modify decisions using data.

Enhanced Drivers Licenses for Data Mining

Next week California legislators are voting on an enhanced drivers license or EDL.  More here. Such a license contains a RFID tag that points to a personal identification number.   These can easily be read, but apparently only at a short distance.   It could make traffic and customs stops more efficient.  It could also lead to more general tracking of people and loss of position privacy.  I am less concerned than the article is.  There are many ways to gather this data already.  We can grow to expect this.  Mostly we need to understand how government is using and importantly, sharing the data.  Remembering also that data mining will make this kind of data more revealing.

Cars Generating Data

It is estimated that the self driving car wll generate a GB of data per second.  More opportunity for a dense and volatile data stream for mining.

Kelloggs Loyalty Program

In AdAge:  A considerably complete program for tracking loyalty.    " ... Kellogg's loyalty program brings in data on 90% of its products  ... Kellogg's Family Rewards loyalty program, which counts 3.5 million members, allows the brand to collect item and store-location data across 90% of its product portfolio in the U.S. The biggest obstacle to using a brand-based platform is "the current marketing structure and dependency on brand funding to run programs," said Maria Keller, Kellogg's director of application solutions, digital marketing and IT ... " 

Sharing Location Data

A Secure Location Data Locker: " ... OpenPaths is a secure data locker for personal location information .... 

Using our mobile apps you can track your location, visualize where you've been, and upload your data to the OpenPaths website. You can then download your data from the website in a variety of friendly formats, including KML, JSON, and CSV. The OpenPaths API enables you to integrate your own software with the platform, and you can import data from location-based services like Foursquare. .... You can keep your location history to yourself, or you can share it with specific research initiatives, art projects, or educational programs as you so choose. The OpenPaths online interface allows you to manage who has access to your data. Regardless, your data is always encrypted on the OpenPaths servers, and cannot be accessed by anyone without your express consent. ... "

Datification of Business

Datification is a new term for me, but a natural next step.  In our own enterprise we drove the use of data for a long time.   Many other companies are now discovering the value of this.  And much more expertise will be needed in handling and analyzing that data, driving many opportunities.

Data Preparation Mistakes

From Catlin Garrett via Vincent Granville.  Good thoughts worth reviewing.  Boils down to really understanding the source of your data elements, and how they were generated. Examine the elements, if there are too many to examine, visualize them and look for anomalies.  Get access to an expert on the business generation and use of the data and have them do the same.   Comments have some good points too.

GS1 Urges Case Data Accuracy

Sometimes the very obvious need to get some little things correct can make all the difference.  Here is just one simple example from GS1.  Get your data right first.  " ... A group of food retailers, wholesalers and manufacturers is calling for CPG manufacturers to “measure, validate and communicate” weights and dimensions of product cases before they are shipped to retailers. ... "

Data Completeness

One of a number of short pieces on dimensions of data quality.   Here on one that is often forgotten: data completeness.   Here about what I call historical completeness or variability.  This relates to analytical models as well,  models are by their nature always incomplete.   The nature of that incompleteness is key.  Read the linked to article and others   in the series.

Discarding the Loyalty Card

Albertson's drops the loyalty card.  With all the data being generated by loyalty ideas, and new ones blooming, some retailers are moving the other way.  And some very large retailers don't use them at all.

What Does Data Gate Mean for Marketers?

In Ad Age:  Insightful, thinking now how about the interaction of privacy and big data.  Are the algorithms involved also privacy sensitive?   " ... In addition to all the questions it's raised about privacy expectations and government overreach, recent revelations about the National Security Administration's Prism surveillance program has thrust another debate into the spotlight: How much data should marketers and media companies be able to collect and store? ... " 

Data and Analytics Need Stories

In Fast Company:   Stories simplify, integrate complex things into an understandable thread, engage.   That includes data and analytics, but is not often done well.  " ... Speaking to us backstage at SapientNitro’s iEX conference in London last week, the author of the bestselling Freakonomics and SuperFreakonomics, abandons his fine line in self-deprecation for a moment to enthuse about the power of a good story. “I think storytelling is the heart of everything. People have this false impression that science is science, and it isn’t. There is so much art, even in science,” he says.... " 

Communicating Data

In the HBR: Data needs to be gathered, understood, communicated and embedded in the decision process.  You need quant people to make this happen.  This article makes these points and more.  In the process of several such projects now.  Some excellent links here.  " ... There is a pressing need for more businesspeople who can think quantitatively and make decisions based on data and analysis, and businesspeople who can do so will become increasingly valuable. According to a McKinsey Global Institute report on big data, we'll need over 1.5 million more data-savvy managers to take advantage of all the data we generate. ... " 

Consequence of EU Tightening Data Privacy Further

A good Adage Article on how the revelations of massive private data leaks could make the EU further tighten data privacy. What does this mean and and what are the consequences.  Will this sequestering of the data end the domination of Silicon Valley in data hungry applications?  An extreme thought I think, but there will be consequences.