Big data technology can help digital marketers better optimize the yield of their online advertising, increasing the spread between the cost of advertising and the revenue derived from it.
In a new article on ZoomInsights, marketing expert Brad Terrell writes about how the new technology could dramatically enhance profitability for digital marketers.
As an example of the need for automated data analysis, Terrell writes about the complexities involved in deciding how much a marketer should bid for ad space on websites. The goal, of course, is to pay the perfect price for each ad — the lowest possible price that gets the impressions that result in the highest possible revenue.
But this can involve analyzing hundreds of terabytes of data that are being updated in near real time. Yield optimization is among a class of big data problems for which increased analytic performance translates directly into increased business value. In other words, as Terrell puts it, when it comes to yield optimization, the marketer who analyzes the most data fastest wins. Read more.