More than any other sector, Media is at the forefront of the big data revolution. Not only is it examining, analysing and managing data that is as fractured or diverse; there is intense pressure in capturing and turning this (in near realtime) into actionable intelligence to inform buy/sell decisions and even predict market fluctuations that are essential to this industry. But this process is getting more complex, more costly, less insightful and no where near the real-time that is needed for brands, agencies and marketers to deliver against their client’s requirements.
This is the 2nd of 3 part blog series on The Challenges for Media in 2018.
3 Key Goals for Media in 2018
- Continually adding value to Data
- Be the Single Source of Truth
- Understanding your Clients' Customers better
Unifying data from various sources can provide the visibility media agencies so desperately require. From a marketing perspective this entails monitoring and overlaying in single reports all the various channels that can impact performance – bricks and clicks, sponsorships, ad campaigns, social media posts, vendor (units, logistics) and supply chain (DSP, SSP etc) data, clients and partnerships.
A single source of unified data enables the business to perform calculations at speed, deploy machine learning and make better, more informed decisions. The probability of certain outcomes can be computed and risk assessed based on that information. Automating that process allows the media business to make smart decisions fast by assimilating and crunching through big data. But crucially it’s the analysis of this data that produces the actionable intelligence.
Previously, dedicated teams of data analysts were required to wade through code but Machine Learning is now transforming data analysis, applying algorithms to search for patterns and anomalies, providing smart alerts and insights through root cause analysis.
AVORA delivers a uniquely powerful solution allowing Media Agencies to build a single source of data from which to deliver not just the standard reports and dashboards, but truly insightful analysis. AVORA’s machine learning builds reports and dashboards and looks for the key performance drivers so you don’t have to. This in turn frees up staff to use their human intuition to interpret, build narrative and work more closely with clients.
For our next blog in the series "Adapt & Grow" - we will focus on the Clients' Customer.
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