New Year, New Data

With the new year comes resolutions, and though vowing to exercise more regularly or cut down on carbs is a worthy personal resolution, it’s important to make professional promises as well. The BDEX teams believes now is the time to take advantage of Big Data.

But it’s not just us. Experts believe 2017 will be a pivotal year for Big Data as well.

“2016 was an exciting year for big data, as finally, Big data is no longer a hype or a buzzword. This means that organisations are actually developing real world solutions and applications with big data analytics that have a big impact on their bottom line,” Mark van Rijmenam of Datafloq tells KDnuggets. As marketers take Big Data more seriously, the doors open for more Big Data projects and Big Data solutions.

The BDEX Data Exchange Platform (DXP) has steadily grown to offer our customers the most comprehensive collection of timely, third-party data on the market. We’re happy to announce that our marketplace is more robust than ever. Look at a few of our updated marketplace statistics below:

 

Shopping Cart Retargeting, or targeting customers who have shown interest in a product on a retailers’ website, is a common data service. The BDEX Shopping Cart Engine, or C2E service, takes this retargeting to the next level by linking retailers with the email addresses of customers who did not even register or purchase on the website. Retailers can connect with potential customers who have shown an interest in their products, whether or not they wanted to purchase merchandise at that particular time.

 

Want to learn more about Big Data or BDEX? Visit our website, bdex.com, or email us at info@bdex.com.

Image Credit: Flickr/KamiPhuc

How Much Are You Paying for Data?

Whether you run a large, established company or a small startup, you need to buy data. The problem is finding a provider that fits all your needs. Large DMPs can offer impressive scale but no flexibility. After all, large DMPs have hundreds of clients, and the needs of one client are not their only priority.

Ed Armitage, an ecommerce consultant previously with British book seller Waterstones, points out this dilemma in a Marketing Week article. “The trouble is that large companies can lack the flexibility or the attention a company needs to make the most of its solution.”

The article goes on to suggest that startups, and other small companies, can offer great customer service and flexibility but lack the scale of bigger providers. BDEX, the first ever DXP (or Data Exchange Platform), is different. With over 400 billion total data points in over 5,000 different categories, BDEX offers even more data than the average DMP—with no minimum payments required.

In other words, BDEX gives brands, retailers, and agencies scale and functionality. Marketers can gain access to data collected from over 75 different sources, including Neustar, and small agencies can purchase a subscription (as low as $500 a month) and buy only the data they need. And because the BDEX DXP is a marketplace, sellers set the price for their data and can change it based on the success of competitors’ prices. Sellers can even see the optimal price point for their data via their account portal. BDEX’s marketplace approach to data keeps prices as low as possible for buyers while allowing sellers to get the best price possible for their data.

With data available in virtually every industry from shopping and retail to finance and the automotive industry, the BDEX marketplace makes sense for virtually every company big and small. For more information about the BDEX marketplace, email us at info@bdex.com.

Image via Flickr/TaxCredits.net

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

Make the Most Out of the Election with Big Data

In an innovative and ultimately game-changing move, Barack Obama and his campaign team took advantage of the Internet, social media and data analytics to reach voters and harness volunteers.” The strategy, used in both of his successful presidential runs, led current nominees Hillary Clinton and Donald Trump to follow suit. This time, however, the data learned and used is bigger than ever. In fact, it’s Big Data.

Politics and the Data Marketplace

But you don’t have to be a political marketer to see the advantages political data segments have to offer. Used in conjunction with other segments, political data can be used by political (and non-political) brands, agencies, and retailers to gain a more well-rounded view of their target consumer. These segments often contain information about consumers’ party associations and their outlooks on specific issues.

The BDEX Difference 

Not all data is created equal, however, so not all data providers provide the same quality or number of data segments. With over 200 billion data points in 5,500 different data categories, BDEX has one of the largest reservoirs of quality, third-party data on the market. With millions of data points on politics alone, BDEX is the only data platform you need this campaign season. BDEX even has specific data segments dedicated to consumers with a somewhat conservative political outlook, a very liberal political outlook, and a “middle of the road” political outlook, to name a few.

Look-Alike Modeling

One of the most useful tools for marketers wanting to target specific voters and political thinkers is look-alike modeling. By simply identifying the key factors and behaviors that make up their target audience, marketers can actually build their ideal customer and find consumers who match that ideal. If you know that the majority of your existing consumers are male, aged 30 to 50, make $100,000 or more a year, and tend to vote republican, you can find millions of others who meet that criteria with look-alike modeling. BDEX’s Custom Audience Creator makes look-alike modeling and segment building even easier. Combined with a strategic marketing campaign, look-alike modeling is one of the simplest but most effective ways to reach new consumers.

 

The first ever Data Exchange Platform (DXP), the BDEX marketplace combines all the data, reach, and functionality of a traditional DMP in a true marketplace environment. With no minimums for data buyers and available at no cost to sellers, BDEX is the ideal choice for a variety of marketers. With data collected from 70+ vetted websites and sources, including Neustar and Acxiom, BDEX is your one-stop shop for all things data.

Image via Flickr/Steve Trottier

Consider These 3 Factors When Selling Data

Big Data’s incredible economic and social influences are evidenced in the variety of industries it’s revolutionizing. For example, healthcare providers can better “predict epidemics, cure disease, improve quality of life and avoid preventable deaths” (Forbes). Brands can better serve their existing customers while attracting new ones, and retailers can predict what trends will resonate with their shoppers.

However, those new to the data monetization side of the Big Data industry may feel a little overwhelmed since there are thousands of companies ready and willing to utilize their data. Before you take the plunge and decide where and how you should sell your data, consider these important data factors: location, price, and privacy.

Where You Sell Your Data Matters

You’re probably wondering, “Where do I sell my data?” After all, the “personal data economy is fairly new.” While you can sell data to a variety of websites, the process can be time-consuming, as tech blogger Chris Hoffman points out. And if you’re selling a limited amount of information, weighing the amount of time spent selling versus the value of the actual data is important.

But as the data monetization industry grows, more and more options become available. Data marketplaces, or online stores where people can buy and/or sell data, are alternatives to the traditional DMP. Data marketplaces allow a wider range of businesses to take advantage of data monetization. Some marketplaces, like BDEX’s, don’t even require revenue sharing.

The Price Must Be Right

Determining the value of your data is perhaps the most difficult part of monetizing data. If you set the price too high, buyers will choose other providers, but if the price is too low, your chances of creating a decent margin are squashed. In a marketplace environment, data sellers can determine the price of their data based on that of the competition. BDEX even shows their data sellers the optimal price point of their data so they raise or decrease the price when necessary.

Customer Privacy is Essential

Sharing data should be a mutually beneficial experience for all involved, including the consumers. To ensure that your consumers’ information is protected, you should encrypt the data or hire a third party to do it for you. You should also be sure that the website or marketplace that buys your data is doing their part to protect the data as well. Data sellers who take advantage of the BDEX marketplace can rest assured that their customers’ information is anonymized and protected.

BDEX is changing data monetization. Sellers can enable activation and monitor their data, while buyers can access tremendous scale and even integrate the BDEX DXP into their own DSP. When they utilize BDEX’s data monetization services, data sellers have complete control of what data they sell and its individual price point. For more information, email us at info@bdex.com.

Image Credit: Flickr/http://401kcalculator.org

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