Connecting...

back to xpand blog

Bid to the Future - Exponential Growth and Data Dependency within RTB

6th Dec 2013

Blank

 

Big Data has been the ‘Buzz’ word for a number of years and despite the increased usage of the term in our vernacular, many of us are still a little unsure as to what it really means.

Microsoft. “Big data is the term increasingly used to describe the process of applying serious computing power—the latest in machine learning and artificial intelligence—to seriously massive and often highly complex sets of information.”

Large data sets have been around for a long time; however the speed at which it’s now being collated and the complexity of the data being recorded is an inevitable outcome of the enormity of information being collected on a daily basis.

‘Big Data’ is now more of an action, rather than a talking point amongst many businesses and to this end, we are seeing more and more companies internalise  the ‘Big Data’ question with a view to learn more about their own existing data to find solutions for it to be more effectively monetised both internally and externally.

The most common misunderstanding surrounding the ‘Big data’ topic is the belief that more data is superior to less. To some extent, there is some truth to this, however a more relevant question to ask would be: ‘How much of the data is ‘high definition’, ‘useable’ and can be converted into real insights and finally, can it be monetised effectively?’  

Data plays a vital role within the RTB Ecosystem; it’s the driving force behind its accuracy, it’s efficiency and ultimately, its profitability. As briefly mentioned in my previous article- http://bit.ly/1eXNOGQ, Data within APAC is not deemed to be as strong as other global regions, which is an ongoing challenge and is all part of it’s inevitable journey toward maturity.

Similar to the increased number of the DSP technology vendors as compared to only a few years ago, the data management platform (DMP) space has become just as competitive.  The  likes of Adobe, X plus one, LOTAME and Blue Kai all have strong product offerings and are most certainly leading the initial rise within the DMP’s arms race.

Take some time to review April’s 2013 Foresters report on ‘The Forrester Wave™: Data Management Platforms, Q3 2013 report″ – This is the first report to thoroughly evaluate the current data management platform (DMP) vendors globally (as of April this year).  

A number of companies are now in the process of developing a product offering and/or leaning their businesses toward the ‘DMP’ product market. Some are already claiming to have a fully functional ‘DMP’ product to release to the market. In light of this highly accelerated rise of DMP products, in my view; to claim the product as a DMP is one thing, but to actually have the required infrastructure, the data science behind it, the technical real-time responsiveness, the precise functionality and finally, the business model that aligns with you’re clients business and its needs, can often be a hard relationship to come by.

As more businesses decide to drive change through their own proprietary data monetisation strategies, the thirst for strong data analytical talent will continue to skyrocket throughout RTB, amongst many other industries.

The introduction of RTB and Programmatic Trading to the world has really boosted the profile of the “Data Scientist” thus highlighting the embarrassing shortages we have within this skillset. We are now in the age of the ‘Petabyte’ and I am pleased to see that universities around the world are now finally offering Data Science / Machine learning focused degrees or double degrees with Computer Science Majors.

If you are a Data Scientist, Analyst, Mathematician or Statistician and want to know what’s available out there, then please get in touch

This topic is one that requires much discussion, and I welcome your thoughts. You can comment here on the blog, or email me directly- daniel.sheppard@xpand.com.au

Dan