We are living in a time where “data” has become the new oil, a highly valuable asset for many businesses. The amount of data available will continue to expand as new and emerging technologies like smartphones and IOT connected devices grow exponentially. Data holds the power to transform every aspect of a business. According to the International Institute for Analytics, businesses using data will see $430 billion in productivity benefits over their competition not using data by 2020.
“We’ve got to use every piece of data and piece of information, and hopefully that will help us be accurate with our player evaluation. For us, that’s our life blood.” – Billy Beane, General Manager of the Oakland Athletics
Data is the new oil and it has become the driving force behind innovation across all industries...even sports! At Cuebiq, we are harnessing the power of location data to power our Audience, Attribution and Analytics tools. We take great pride in our patent pending SDK methodology, as it has allowed us to create the largest source of accurate and precise location data in the US. We now reach over 61MM unique devices, or 1 in 4 US Smartphone users. But where does this data come from and why does data privacy matter?
As a marketer, understanding consumers’ behavior has always been of paramount importance to me. Who are they, what are their passions and interests, which brands do they prefer… Location data came to marketers as the holy grail, promising an unprecedented opportunity to understand audiences, help effectively connect with them, and ultimately measure the impact of marketing efforts. However, the marketplace is filled with so many data providers and products that it has become a challenge for us marketers to identify the best data sources. Which brings me to the elephant in the room, what should marketers be aware of when looking for the right data to help them bridge consumers’ online and offline worlds? What matters and what should be disregarded?