Eyeota is one of the first companies to gain certification through a new data quality verification process from Neutronian, an independent data quality measurement service. Certification, announced Monday, was granted for its Eyeota Branded Segments.
“Data provides the building blocks for product development and strategy,” said Kristina Prokop, CEO and co-founder of Eyeota, a global company based in Singapore. “Companies are building models off these data sets. If the core data isn’t correct then it has a huge influence on the accuracy of the products and models.”
Earlier this year, the company added Neutronian, a Silicon Valley company backed by data experts that created a verification platform similar to a FICO credit score.
In May, the company added several influential investors and board members to drive the company forward, including Deven Sharma, former president of Standard & Poor's, a division of S&P Global.
Avid Larizadeh Duggan, a non-executive director at Barclays and former general partner at Google Ventures, also joined as an investor and advisor.
The data part of advertising is complex. Too many mistakes can occur without a deep understanding of all the possibilities to collect, process into segments.
Even for consumers, without understanding the basics it is difficult to trust brands, making it more important to have an independent quality measurement that companies can rely on to provide consistency and accuracy.
Data compliance and accuracy also required education, so consumers of brands like P&G or Unilever can feel comfortable in sharing personal information.
If we’re educating an agency about our requirements for sourcing and processing data and remaining privacy compliant, the brands trying to relay that information to consumers who buy their products must also understand the process, Prokop said.
Eyeota was founded by three entrepreneurs nearly 10 years ago across three continents — Singapore, Germany, and Australia — and later entered the United States. The company emerged during the time when companies like BlueKai were gaining traction. BlueKai was eventually acquired by Oracle.
Prokop views the Neutronian certification as a global effort based on the way it works, focusing on consenting compliance, which includes GDPR. All these factors such as sourcing and how companies handle data privacy are universal around the world. “It may take a little longer for Asia,” she said. “We’re also encouraging all our partners to go through the process as well.”