• by Tobi Elkin  @tobielkin, August 15, 2016

Lotame on Monday announced the launch of a data product that can be integrated with marketers’ existing first-party data to help them gain a more complete picture of their target customers. 

Lotame, a cross-device data management platform (DMP.) said its new Lotame Data Stream is a real-time, always-on source of consumer data that’s powered by billion of data points from Lotame’s global data exchange.

The Data Stream product is powered by Lotame’s data exchange—an aggregation preference data on consumers. Lotame aggregates the data from nearly 200 data providers, segments it, and then uses it in its DMP. The new product streams all of the granular data to clients’ in-house tech function. “Time spent is extremely important to identifying user behavior. Recency and frequency drives consumer behavior. We’re essentially capturing all of this data and parsing it in its rawest form,” said Rishit Shah, head of strategy and innovation at Lotame.

Shah explained that with Lotame Data Stream, the company is targeting large enterprises that are focusing resources on in-house data capabilities and data science. The main objectives for such data science investments is identifying consumer behavior and understanding what drives specific consumers’ preferences.

Shah offered an example: A consumer visits Starbucks on a regular basis, but for a new product launch, she might visit Dunkin' Donuts. Lotame Data Stream can identify the factors that influence this decision.

Other target clients for the new product are hedge funds, big analytics firms, and tech companies that provide intelligence and insights. Shah cited IBM’s Watson, which analyzes different types of data to predict insights.

Another potential client might be a company like American Express. For example, Lotame’s product would offer AmEx data  to identify customers it should target for a new credit card product, Shah explained.

On the B2B side, Lotame is targeting business decisionmakers. For example, for Dell, Lotame’s exchange has data on decisionmakers within enterprises that can ascertain whether they’re in the market for a big laptop order.

Shah said that clients are beta testing Lotame Data Stream via a sampling product. Before a client receives the whole stream with all the data, it can subscribe to a sample to play with the data and see if it’s going to be useful.

Shah explained that the data product boils down to three things: people, places, and events. “The data looks at what’s happening to people, where it’s happening, and the events places where it’s happening. We want to know what’s influencing behaviors. Lotame is supplying the ‘people’ data,” he said.

Shah said the biggest difference between Lotame and DMPs such as Krux and Adobe is that they don’t necessarily have data exchanges that aggegrate data from more than 200 providers. There are other companies that have streaming products for data and event-level data, but not “people-level” data.

Among the functions Lotame Data Stream can address:

• Product and media recommendations.
• Personalized digital experiences across online properties.
• Optimization, fraud prevention, and customer attribution.
• Market insights and intelligence that competitors may have overlooked.
• Proprietary Customer Relationship Management (CRM) tools and other internal business intelligence applications.
• A single, unified view of the customer that connects attributes and behavioral insights from disparate sources.
• More robust research methodology and outcomes with larger samples.

Lotame Data Stream also supports modeling. For example, Shah explained that customers can use the data, co-mingle it with first-party and other data, then use machine learning to create models and identify unique insights from the raw data.