In today’s technology-savvy world, you will get to hear many buzzwords or catchphrases with deeper importance to them than one thinks. Big Data is one of the main ones when it comes to Programmatic Media Buying in the Digital Industry. According to Forbes, it is very “ginormous” and “scary”. But there is an easier way of understanding every piece of information. Let us break down the two syllables: ‘Big’ and ‘Data’. You can refer to ‘Big’ in this context as extremely large unstructured sets whilst the word ‘Data’ can quite simply depict electronic analysis of these sets.
Now let us put this formally to define it well: Big Data is voluminous information generated by every digital object surrounding us including systems, mobile, sensors, electronic devices etc. Granularly, your phone’s GPS, digital pictures, videos AND even your posts on social media! Therefore, when it comes to Programmatic Advertising, you can imagine the intense dispersed data put together in real-time in today’s digital world. And that is, well, not just big, but also, digitally big. (More about what is Big Data you can read in our previous article here.)
Now the question must have popped in your mind, why do I need to know about this digital evolutionary result of today’s world? As IBM reveals, Big Data is changing the way we operate on daily basis at organisations we work at. This distinctive information in Programmatic Advertising enables media buyers to make better and efficient campaign automation solutions, optimises the campaigns and most importantly provides assistance with new sources of development in the market. Any fundamental successful business marketing approach ensures competent decision-making, emerging competitive advantage and accumulating value of data. And Big Data is an answer to all these worries!
Think of Big Data as a tool for campaign performance boost. Or a programmatic engine with components? Just how you need tools to boost a car’s engine, you need tools for Big Data to boost campaign performance and optimise it. In this digital era, one of these comprise of Big Data Analytical Tools for Programmatic Media Buying such as a combination of Demand Side Platforms (DSPs) and Data Management Platforms (DMPs). Whilst DSPs are responsible for facilitating the Real-Time Bidding (RTB) on various exchanges to reach target audiences, DMPs, on the other hand, centralise the Big Data provided by DSPs for analytical reporting and allow advertisers to utilise multiple data sources on a single platform for optimisation of their programmatic advertising campaigns.
Conclusively, Big Data is about thinking big. In this case, this also counts towards integrations which come intact. About 80% of the value therefore in Big Data is means of integration, as based on Forrester Research. The bigger picture or the bigger data hence is readily available to the right users to collaborate with business success. In fact, Programmatic Advertising Technology have been means of coping with Big Data with innovation and modernisation in the advertising industry. All in all, Big Data has been and will be an informative wave with many products to navigate through for Programmatic Media Buying success.