BDEX CEO David Finkelstein Talks Data on Radio Show Building the Future

On Tuesday, November 15, BDEX CEO and cofounder David Finkelstein was featured on radio show Building the Future, where he discussed his various entrepreneurial ventures, including BDEX, the first ever Data Exchange Platform.

Every week host Kevin Horek (@kevinhorak) speaks with a different entrepreneur or investor “helping to make our world a better place.”

David discussed BDEX and the business of buying and monetizing data, as well as his early years in Ramsey, New Jersey working at his father’s business. It was there he was bit by the entrepreneurial bug.

“It was sort of embedded in me from the day I was born.”

After attending Rochester Institute of Technology and working in the IT department of a small computing company, David started his first business, National Internet Source, Inc. in 1994. After selling the business to the U.S. Cable Corporation and briefly working for the company, David cofounded, along with fellow BDEX cofounder and CDO Michael Aronov, an internet advertising platform called Contextuads.

After 10 years and realizing “the technology [for internet advertising] had become commoditized,” the duo turned Contextuads into BDEX, understanding that their most important product was the data they had accumulated.

BDEX is the largest data exchange platform in the U.S. Unlike most data platforms, BDEX receives between five and 10 million real-time data points a day, allowing brands, retailers and agencies to target their audiences like never before.

Listen to the entire show via SoundCloud below or visit the Building the Future website. For more information on BDEX, visit our website or email info@bdex.com.

 

When Real-Time Data is Actual Real-Time Data

Many data platforms claim they can provide their customers with real-time insights, but their definition of “real-time” is often debatable. True, real-time data is not only obtained in real time but offers brands, retailers, and agencies up-to-the-second information on their customers’ behavior. After all, if you acquire information about an online shopper one minute but the information is 30 days old, the data’s value is greatly diminished. But if that same online shopper searches for sandals on one website one minute, and the marketer learns that information a minute later, the data is priceless. “Organizations can reap a lot of benefits by accessing real-time analytics purely because of their close relevance to market realities” (Techopedia).

Mobile Data

Real-time data can be learned a variety of ways, perhaps most obviously, through mobile IDs. Every Apple device has a UDID, or Unique Device Identifier. “Originally, the UDID was intended as a sort of serial number for Apple devices. But, as the industry began to explode, app developers turned to the UDID to help track and target mobile users.” Apple later denied app developers access to users’ UDIDs and created a data set called IDFA, or Identifier for Advertisers. Unlike the UDID, the IDFA is not easily linked to devices or users. In fact, users can even opt of advertising tracking altogether if they wish.

Despite mobile advertising regulations, mobile ID tracking provides valuable data for marketers, especially when tracking real-time behavior. With over 100 million mobile device IDs tied to AAIDs and IDFAs, the BDEX DXP has some of the most comprehensive and diverse mobile data on the market.

Cross-Device Matching

Ninety percent of today’s consumers bounce back and forth between devices when making purchases. When you consider that 65% of the revenue generated online comes from purchases that are made across multiple channels, you have little choice but to target users with ads regardless of the device they’re using to access these channels” (Shopify). To target the same consumers across multiple channels, however, marketers must link those consumer’s various IDs. Not surprisingly, connecting the ID “dots” is easier said than done.

There are over 80 million email-to-mobile ID and email-to-cookie ID matches available in the BDEX marketplace. Thanks to a plethora of data provided by more than 75 sources and custom BDEX identifier tags, marketers can link their consumers’ information across multiple sites and platforms and use that data to advertise via mobile, email, display, or any other channel.

Moving Beyond Interest and Intent

While interest and intent data is certainly valuable, when you add a real-time element to the equation, the information learned is not only a predictor of what a consumer may buy but an indicator of what he/she will buy. With millions of new data points received daily across thousands of categories, the BDEX Data Exchange Platform offers the most comprehensive and time-relevant data on the market. For more information about our platform, visit our website. Want to get in touch? Email info@bdex.com.

Image via Flickr/Jean-Pierre Bovin

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