Quality, real-time data helps understand consumer desires and predict future actions. “Our decisions are based on the inherent traits of the [real-time] data, information that helps us put the right offer, in front of the right person, in the right place and at the right time,” said Joe Marinucci, CEO of Digital Media Solutions.
What Is Real-Time Data?
Real-time data catalogs, in real-time, an action taken by a consumer. If a consumer stops on a website and fills out a form requesting a quote or further information, the moment they hit submit, that consumer is sharing their first-party information in real-time. The data makes its way to end-users in real-time, typically advertisers and businesses. Real-time data can be used both to deliver an immediate response or to aggregate with other data to better understand consumers for future campaigns and targeting.
When Does Data Stop Being Considered Real-Time Data?
Real-time data is only real-time data for a moment. As soon as real-time data is stored, it’s no longer “real-time.” Stored data can be aggregated and used at a later date for consumer intelligence, personalization and re-engagement campaigns.
What Are The Benefits Of Real-Time Data For Advertisers?
Real-time data offers immediacy, allowing advertisers to respond to consumer needs as they are happening. And, real-time data offers the opportunity for personalization, including the personalization of product or offer information. With current knowledge of what your consumers want, advertising creative can hit on the most important points to drive conversions and garner lasting results.
The often-discussed sunsetting of cookies makes the generation of real-time data and the collection of aggregated data essential to advertisers that want to know more about their customers and their purchasing journeys.
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