The buzzword in the advertising industry today is data but a new report says it is important to improve the quality of the data that increasingly is being used to make decisions.
A whitepaper entitled “Enriching Media Data: Quality is the Key Requisite for Maximizing ROI,” introduced by the Coalition for Innovative Media Measurement, calls for greater disclosure and transparency to improve data quality and the standardization of definitions as programmatic media transactions grow in importance.
“Asking the vital questions about data quality through an amplified lens of transparency will likely reset data quality standards across the advertising and media industry. The power of this disclosure should inspire data suppliers to view data quality as a competitive point of distinction that drives the level of quality across all data firms,” said Gerard Broussard, principal of Pre-meditated Media, who was commissioned by CIMM to do the study.
The whitepaper recommends the industry takes several steps including:
Establishment of principles of data quality disclosure
Creation of a roster of items that must be asked of data suppliers
Request for transparency among data firm disclosures including consumer authentication procedures, multiple data source descriptions, model target techniques and testing results, recency of data, integration techniques and data labeling
Creation of best practice standards including acceptability guidelines for prepping and integrating multiple data sources and recruitment of third-party members to participate and shape guidelines
CIMM’s membership includes many of the leading video content providers, media agencies and advertisers.