Data Data Everywhere, But Not a Drop to Use…Or is There?

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The Ancient Mariner’s mantra has not yet gone out of style.  We are awash in data, however brands still struggle to understand what data is valuable and how to act on what data they currently have.  The data story at CES is never front and center; you really have to delve behind the scenes for it, and that hasn’t changed at CES 2017. Some of the most interesting uses of data at CES 2017 include:

The Internet of Things Helps Make a Match

The bane of many brands is linking advertising exposure to an actual purchase, especially if that purchase is at a retail store that is unwilling to capture or share data.  This year at CES there has been an explosion of IOT data – appliances, window shades, and pillows can now be connected to the Internet, allowing brands to link purchases to media exposure once the purchased item has been activated on the web.   Brands can link TV, digital display, search, and online video advertising to a specific purchase using a matchback process, similar to how we measure direct or email today, giving a real advertising ROI and testing playground to determine what messages and media placements best drive conversion.

One Man’s Trash is Another Man’s (or Marketer’s) Treasure

Eugène, a piece of hardware you use to scan UPC codes of everything you put into the trash, is an amazing source of data.  Not only do consumers love it, as it teaches then what can be recycled and how, but it also gives marketers insight into purchases and consumption at the individual household level.  This can be used to forecast demand, matchback advertising to purchase and better understand consumer behavior – and that’s actual, not reported behavior, which is always better.

Who’s Afraid of Sharing Data?

What if you want to live off the grid and keep your data all to yourself?  People naturally don’t like being spied on, and many don’t understand the privacy rules in place to protect us.  The recent data breeches from trusted places like Homeland Security and Yahoo! haven’t helped, either.  There was a new product in Eureka Park called eBlocker.  It’s a piece of hardware that plugs into your router and that’s it, it’s installed!   eBlocker then instantly blocks all takers, tracking add, anonymizes your IP.  It can also be configured to allow specific sites to pass data through if you’d like

Note to Brands…Don’t Procrastinate!

Data is still often considered a byproduct of a new product, and brands that are sitting on reams of data should be thinking about how to use it.  Not acting on your data now lets a competitor leapfrog you and the gap may be impossible to overcome.  If you aren’t figuring out how to use your data now, you can rest uneasily (even on your Internet-enabled pillow) that someone else will.

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