Archive for February, 2010|Monthly archive page

Data Is the Currency of The Internet – Tools to Transform Data Into Insights

Data Is Currency Of The Internet

Web publishers are competing  for advertising  dollars based on audience scale and the ability to articulate audience insights.  Achieving audience scale by itself is no longer enough.  Advertisers are beginning to move dollars from traditional media into interactive media because of the promise of measurability.  This promise hinges on collecting, analyzing and synthesizing data about consumers.  The more web publishers can tell advertisers about how their audience consumes content including their purchase intent, the more dollars will flow into the web.

The race to control collection of audience data is on.  Facebook has changed its privacy policy to begin mining personal interests to unlock insights from a massive behavioral database.  Apple and Google have taken the gloves off in the war to track user behavior gleaned from mobile phone usage.  Media and Entertainment companies have to ensure that they are not caught flat footed in this battle to present audience insights to advertisers, ceding control to portals and social media communities.  Data analysis and analytics is at the heart of this war.

In order to demonstrate value to advertisers, web publishers must be able to translate internal and external data into currency.   Currency is the medium of exchange that connotes value and is generally accepted as a measure of that value.  This is where the problem begins in the world of data – there really is no single metric (currency) that is generally accepted or suggests  value.    To further complicate matters, there are multiple vendors who are vying to provide the currency of data.   To provide a thumbnail sketch of the myriad of options available,  I’ve listed a few in each of the key categories below:

Reach:  3rd Party Verification of Web Publisher Audience Size  (Audience Measurement)

Internal Metrics: Traditional Web Analytics or KPI Providers (Engagement/Reach)

Offsite Engagement:  Social Media Engagement

Site Tools

  • Facebook Insights
  • Youtube Insights

3rd Party Tools

I will take a look at each of the aforementioned areas for measurement – Reach, Internal Metrics/Web Analytics and Social Media Measurement – over the next several posts.  My goal with this series is to help web publishers, especially Media and Entertainment companies, leverage the best tools in each category to transform data into insights and ultimately into currency.