Too many raw statistics overwhelm marketers -- but not enough means lost opportunities. Research firm IDC estimates the digital universe will account for 40 zettabytes (ZB) of data by 2020, according to the study Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East, sponsored by EMC Corp.
The amount of information individuals create themselves, by writing documents, taking pictures, downloading music, etc., is far less than the amount of information being created about them online, according to the report.
As marketers and brands find new ways to make sense of available data, companies like Varick Media Management (VMM), an agency trading desk and MDC Partners company, will tap data experts, such as eXelate. The two companies have formed a partnership to improve the accuracy and reach of VMM's audience segments.
Although IDC estimates only 0.5% of the world's data is being analyzed, the partnership between VMM and eXelate will not only shed light on new ways agencies will integrate data into campaign, but also the need to hire senior data planners, and the requirements to build data-centric agency teams -- like Havas Digital, which began building a content attribution strategy supported by data.
VMM created The Lens, a data management platform that lets engineers and analysts collect and sync first-party user data with third-party data segments for audience definition and analysis. eXelate will provide access to data for hundreds of millions of unique users including online purchase intent, household demographics, and behavioral propensity data sets. It will give VMM the ability to analyze the data, extract insights and use the insights to better target audiences with relevant advertising.
eXelate Chief Revenue Officer Damian Garbaccio said the data company will provide billions of data points, more than 10,000 segments, in a real-time feed. "We're not going back to the typewriter," he said
To give marketers an idea of the amount of data being generated worldwide, this year people will create and replicate 2.8ZB of data, according to the study. Some 32% of the world's data is being generated in the United States, 19% in Western Europe, 13% in China, 4% in India, and 32% in the rest of the world.