Are You Using Deterministic Data to Drive Results?
by Matt P.
The 2017 Holiday Season is already upon us, and as always the primary concern for brands, retailers and marketers alike continues to be two-fold: move products off the shelf and generate sales. However, every year industry players are forced to reevaluate their playbook for success; their approach to getting noticed and being heard through the noise of holiday advertising – regardless of the medium being employed.
Let’s cut to the chase, advertisers have their work cut-out for them. As technology has advanced, creating a more interconnected media experience with numerous advertising channels developing in the process; the demands of consumers – read “prospective customers” – has evolved a whole lot of more
. Regardless of how marketers try to give their target audiences more, those decisions always rely on the data which they have at their disposal.
Although it would be a tough pill to swallow, marketers across the spectrum would be wise to minimize their reliance on datasets which are heavily open to interpretation, regardless of their sophistication and the highly complex algorithms being applied thereto. Unfortunately, data driven marketing can only ever be as effective as the quality of the underlying data upon which it was based.
So, how can the average person charged with finding the most reliable data wade through this sticky and uncertain landscape? The answer is simple, if you have the choice – choose deterministic data. “Deterministic” refers to the analysis of data that is known
to be true. This reduces the guesswork to zero, and ensures that the decisions made as a result of such data have a solid foundation. For example, when a customer indulges in a bit of online shopping, and provides information such as their name, address, zip code, phone number, etc., such information falls under the purview of deterministic data. As a result, when a consumer logs in using user IDs and passwords associated with such identifying information, marketers will know who that person is.
When the data is deterministic, there are no unknown factors and the decisions being made on them can be relied upon – because the data itself is 100% accurate. While there have been great advances with regard to probabilistic data, which by definition include unknown factors, where gaps in the data are filled in using sophisticated operating systems and big data algorithms; nothing beats 100% accuracy. If you want to take the guesswork out of this Holiday Season’s marketing campaigns, don’t just predict your prospective customer’s intent, know it!
Deterministic data is no longer a nice to have. Let’s talk. Scanbuy
has the consumer data you need to take your marketing to the next level.