Big data seems to be the buzzword around our industry these days, and is there any wonder based on the recent explosion of data in terms of growth, availability and use?
IBM does a pretty good job of explaining big data and I’m not one to mess with a good thing. According to the company’s definition, the three core components of big data are volume, variety and velocity.
Volume refers to the growing mass of terabytes and petabytes being generated and converted into analysis and real time decisions.
Variety refers to the structured and unstructured data pouring in via thousands of sources that is analyzed in new and creative combinations.
Velocity simply refers to how quickly the data is being produced and the speed at which it must be processed to serve useful tasks central to marketers’ needs.
With all of this big data pouring in, a question remains, how do I make the most of big data?
Today many demand side platforms (DSPs) are working with brands of all sizes to redefine what is possible when integrating big data across marketing channels.
The net result is that marketers have granular control over every impression that is served resulting in faster scale, improved ROI and significantly deeper insights into their target audiences. This is all due to the centralization of key vital components: