Top 5 Local Ad Stats of the Week: Big Data
September 5, 2014 | Contributed by: Joe Morsello
Big data is revolutionizing the local advertising and marketing space. The ability to target a specific consumer in a specific location via multiple devices is changing the way advertisers connect with consumers and deliver relevance. However, with so much data, making sense of it all can be a challenge.
According to a study by the International Data Corporation (IDC), 90 percent of what we call big data is unstructured data. This is significant because programmatic solutions run on structured data and for that reason, finding ways to organize, interpret and leverage the tremendous amount of consumer data found in the digital world is a massive opportunity for marketers.
Here are some stats that highlight just how important big data is to the advertising and marketing space:
- 76% of marketers have failed to use behavioral data in segmentation analysis and targeting execution. (Razorfish/Adobe)
- Big data is projected to be a $28.5B market in 2014, growing to $50.1B in 2015. (Wikibon)
- The top big data advertising tactics requested by local advertisers is behavioral targeting, search retargeting, site retargeting and device targeting. (Forrester Consulting/Simpli.fi)
- 22% of U.S. marketers said big data will be the most important factor to their marketing efforts moving forward. (Adobe)
- Marketers feel that the most important skill to be successful today is the ability to use data analysis to extract predictive findings from big data. (Economist Intelligence Unit)
Be sure to check back next Friday for our next edition of Top 5 Local Ad Stats of the Week. Have a great weekend!