{"id":48349,"date":"2021-11-24T09:00:51","date_gmt":"2021-11-24T09:00:51","guid":{"rendered":"https:\/\/mediamakersmeet.com\/?p=48349"},"modified":"2021-11-25T10:34:29","modified_gmt":"2021-11-25T10:34:29","slug":"how-publishers-are-tackling-the-biggest-audience-data-and-analytics-challenges-report","status":"publish","type":"post","link":"https:\/\/mediamakersmeet.com\/how-publishers-are-tackling-the-biggest-audience-data-and-analytics-challenges-report\/","title":{"rendered":"How publishers are tackling the biggest audience data and analytics challenges: Report"},"content":{"rendered":"\n
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\u201cThe amount of data created, captured, copied, and consumed around the world is forecasted to hit 175 zettabytes<\/a> by 2025,\u201d according<\/a> to Piano, a subscription, analytics, and content personalization platform. <\/p>\n\n\n\n

\u201cThis trove of information stands to help publishers and the advertisers that work with them harness insights about current and prospective customers to power revenue and loyalty both now and in the future.\u201d<\/p>\n\n\n\n

\u201cLifeblood of the advertising and publishing ecosystem\u201d<\/h4>\n\n\n\n

However, data on subscriptions, content engagement, ad revenue, and customer profiles, among others, are often siloed and scattered within organizations, notes a new report<\/a> by Piano and Digiday. This makes collecting, storing, managing, and democratizing all of it for different teams challenging to say the least. <\/p>\n\n\n\n

Audience data and analytics are the lifeblood of the advertising and publishing ecosystem, allowing organizations to deliver relevant content to the right audiences. Although more data is available to organizations than ever before, executives continue to face significant obstacles in analyzing these resources and taking action on relevant insights.<\/p>Piano<\/a> <\/cite><\/blockquote>\n\n\n\n

The report, State of audience data and analytics<\/a>, is based on surveys of more than 100 publisher and brand executives. The surveys sought to understand how they are navigating analytics challenges and opportunities.  <\/p>\n\n\n\n

The top challenges in managing and using data<\/h4>\n\n\n\n

56% of the respondents said siloed data is their biggest barrier to successfully managing and using data at their organizations followed by the lack of interoperable systems (50%), and lack of resources to manage execution (48%). <\/p>\n\n\n\n

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Source: State of audience data and analytics<\/figcaption><\/figure><\/div>\n\n\n\n
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The participants indicated restrictive structures and policies (43%), data that isn\u2019t vetted (42%), and technology that limits data sharing (40%) as key reasons for the existence of data silos at their organizations.<\/p>\n\n\n\n

Keeping data accurate, clean and consistent, is a huge challenge considering the abundant and never-ending supply of audience information. \u201cThere are a multitude of reasons for incorrect data,\u201d says Andy Isaacs, Head of Data and Analytics at UKTV. \u201cNo matter how much you test and monitor changes, there will inevitably be incorrect data sets that slip through and get into production.\u201d The broadcaster uses AI tools to identify potential errors but acknowledges it\u2019s difficult to completely avoid incorrect data.<\/p>\n\n\n\n

Insufficient tools for analysis and reporting (42%), lack of communication among teams\/departments (41%), and incomplete or incorrect user first-party or zero-party data (39%) were cited among the top obstacles for ensuring clean, clear, and consistent data.<\/p>\n\n\n\n

\u201cIt all goes back to that data model and knowing exactly what we\u2019re looking for,\u201d suggests Neal Cantle, Digital Audience Research Officer at RT\u00c9, Ireland\u2019s public service broadcaster. \u201cWe want to make sure what comes out of the app has the same labeling rules as the website. Getting that labeling right is critical, as well as getting the correct data from our third-party partners and making sure it\u2019s in the right format.\u201d He adds that getting inputs from all departments in an organization helps keep data consistent and reliable.<\/p>\n\n\n\n

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Source: State of audience data and analytics<\/figcaption><\/figure><\/div>\n\n\n\n
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\u201cData governance should be the number one priority\u201d<\/h4>\n\n\n\n

Organizations are working to improve and perfect data governance to achieve interoperability, the report notes. <\/p>\n\n\n\n

Data governance means being in control of the data a company has. Having data governance is important, not only to get good quality data and democratize it but also to respond to legal obligations concerning privacy. Given the evolution and acceleration of privacy legislation, data governance should be the number one priority.<\/p> Declan Owens, Digital Analytics Expert, Piano<\/cite><\/blockquote>\n\n\n\n

Some organizations have hybrid data governance models, says Owens. They set up a \u201ccenter of excellence\u201d for testing and determining the extent to which they can extract value from their data. This team is expected to \u201cpropose a central data structure and tools to other teams at the organization,\u201d he adds. \u201cWhat\u2019s great about this model is being able to align the whole company around the same goals.\u201d <\/p>\n\n\n\n

The report recommends an analytics team to include people who have a refined understanding of data, audience measurement, and performance. Typically, a Chief data officer (CDO) oversees data governance and is responsible for getting projects approved and prioritized, managing the budget, and procuring staff for the governance program. <\/p>\n\n\n\n

\u201cThe foundation is data governance and making sure we are collecting the data that is required for our business needs,\u201d says UKTV\u2019s Isaacs. \u201cBy doing that, we have engaged all of our different end-users in the data collection process by consulting them and training them on what the use cases are. This allows them to know what to look for and spot any errors since they\u2019ve been involved in the implementation.\u201d<\/p>\n\n\n\n

\u201cThe big vision\u201d<\/h4>\n\n\n\n

Many are also relying on third-party technology partnerships to ensure comprehensive internal data interoperability, governance, and reliability. \u201cThe big vision is to have all of these datasets flowing together and the ability for them to merge,\u201d says RT\u00c9\u2019s Cantle. \u201cWe are working with various tech partners to do that.\u201d<\/p>\n\n\n\n

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Source: State of audience data and analytics<\/figcaption><\/figure><\/div>\n\n\n\n
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\u201cTo create relevant experiences for consumers in the future,\u201d the authors write, \u201ca task bound to become more difficult due to expanding privacy laws and impending third-party cookie deprecation, today\u2019s businesses are seeking audience analytics solutions integrated with comprehensive, end-to-end technology tools to ensure data flow, cleanliness and consistency. And they\u2019re activating these tools by putting the right people in place to manage them across the various needs of different business units.\u201d<\/p>\n\n\n\n

In a future that prioritizes user preferences above all else, the organizations taking action to improve how data is used internally and, in turn, to create more engaging customer experiences, will be most successful.<\/p> Piano<\/a> <\/cite><\/blockquote>\n\n\n\n

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The full report is available here:
State of audience data and analytics<\/strong><\/a><\/p>\n\n\n\n

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\u201cThe amount of data created, captured, copied, and consumed around the world is forecasted to hit 175 zettabytes by 2025,\u201d according to Piano, a subscription, analytics, and content personalization platform.  \u201cThis trove of information stands to help publishers and the advertisers that work with them harness insights about current and prospective customers to power revenue […]<\/p>\n","protected":false},"author":26,"featured_media":48359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,26,550],"tags":[],"yst_prominent_words":[16464,4600,1243,2237,20304,4625,33827],"acf":[],"_links":{"self":[{"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/posts\/48349"}],"collection":[{"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/comments?post=48349"}],"version-history":[{"count":0,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/posts\/48349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/media\/48359"}],"wp:attachment":[{"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/media?parent=48349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/categories?post=48349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/tags?post=48349"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/mediamakersmeet.com\/wp-json\/wp\/v2\/yst_prominent_words?post=48349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}