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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

11/17
2010

The Socialization of Data Analytics

j04020151 150x150 The Socialization of Data AnalyticsAnalyticsBridge.com is a social network for data analytics professionals. While it’s a great place to get data analytics news, the way they aggregate content is an exemplary example of using data analytics to enhance revenue streams.

In a recent article, AnalyticBridge tells a tale of how they are pulling data on analytics from relevant sources with a combination of widgets and feed tools and returning revenue from it. In addition, they provide the analysis of why a social network benefits from analyzing data to broadcast:

  • Billions are spent on online advertising programs (driven by content)
  • Ads are displayed on websites with lots of traffic.
  • The reason these websites are attracting traffic is the captivating content.
  • Producing great content is time consuming and/or very expensive.
  • Almost every publisher wants to automate content production but it’s very difficult.
  • Displaying the right content to the right user at the right time dramatically increases ad revenue. To achieve this goal of highly targeted and relevant content, you need to use analytical techniques.

Data Analytics Driving Ad Revenue
These are all relevant reasons for aggregating content, and as AnalyticBridge points out, bigger companies are hiring analytic professionals to optimize the process of automating and aggregating content to drive ad revenue. Imagine if any advertiser added data visualization to their analytics. They could see the traffic source, IP address demographic information and other analytics data and create personas to target traffic even more.

Recommendation – Take Analytics Beyond Ad Revenue
Utilizing data analytics tools to automate content is not only a benefit for companies dependent on driving traffic for ad revenue. It’s also a lesson for any company with a product to sell. By analyzing what the market is saying about your space and sharing it with your targets, you can find even more reason to start conversations.

Consumers Want Data Visualization
Adding the consumer element to aggregating data, visualization is becoming a consumer expectation. This article from MediaWeek, written by Bob Greenberg, chairman, CEO and global CCO of R/GA, a digital ad agency, discusses the consumer expectation for data dashboards on the horizon. Greenberg says that top brands are jumping on this bandwagon.

Recommendations – Respond with Data-Driven Apps & Gadgets
Smart companies should follow suit in the competitive consumer market and begin thinking about how they can create consumer content around data analytics information and present it in appealing apps and gadgets to enhance their marketing.

Amanda Brandon
Spotfire Blogging Team

Image Credit: Microsoft Office Clip Art

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