Real-time data, data from connected everything, actionable vs. big… where is all this big data heading, and what should marketers be aware of this year?
Nothing has changed the advertising landscape as much as the rise of ad tech and big data. Massive advances in technology have allowed us to target consumers with extreme precision in near real time.
This year’s key technology events, such as CES and South by Southwest, showcased a potential future of virtual reality, connected everything, and devices that take note of what we do, say and eat. Marketers are now trying to ready themselves for the new wave of data that’s ahead.
Based on what I see in the marketplace and among our clients, I foresee that 2016 will be a year of great opportunity – but it will also present some new and sometimes unexpected hurdles. Here are my top eight predictions about data and where it will go this year.
With government entities starting to catch up to the latest in technology, I believe that new compliance and privacy regulations, as well as global differences in privacy and Internet laws will become a big challenge for marketers. Brands and platforms will have to be more transparent in what they store where, and how they intend to use it.
The continuous growth of, and engagement with, wearables and connected devices leaves me no doubt that the overall volume of data is set to explode. Add to that the outlook on virtual reality and connected homes, and companies will have to look for advancements in technology to manage these massive data volumes.
Along with the increase of connected devices, cars and homes will come a massive growth of real-time data, which will lead to the capability of making real-time advertising choices.