Why Marketers, Agencies, Publishers and MarTech/AdTech Providers need MAdTech Business Intelligence

Why Marketers, Agencies, Publishers and MarTech/AdTech Providers need MAdTech Business Intelligence

By William A. Lederer, Chairman and CEO, iSOCRATES

Media and marketing today are largely dependent upon marketing technology (MarTech) and advertising technology (AdTech) platforms. Of these, there are thousands, each generating disparate streams of data.

Unfortunately, these systems and their I/O are often incompatible with one another and sometimes incomprehensible to a broad portion of their user base.

MAdTech BI—iSOCRATES’s term for marketing-and-media-specific (MarTech + AdTech) business intelligence—is an important asset for anyone in the digital media and marketing business, whether you are a publisher, marketer, agency, or a data/tech provider. MAdTech BI integrates and consolidates MarTech and AdTech data streams and makes the output of those platforms more comprehensible and useable.

 

What is Business Intelligence (BI) and What is Media and Marketing BI?

Business intelligence products are an important addition to a company’s array of resources. BI tools should offer an accessible understanding of a company’s data and allow users to make decisions based on the results they provide.

MAdTech BI is a type of BI that focuses specifically on a company’s media and marketing strategies. MAdTech BI software is traditionally purchased by companies who want to analyze the success or failure of their media and marketing endeavors. It’s one thing to simply engage in marketing tactics, but if a company has no idea of their yield or success ratio, much of their marketing expenditure will be pointless.

In general, companies tend to handle their various responsibilities in silos. While data may exist to help employees and leaders make certain decisions, that same data is not always accessible across the organization. That’s where MAdTech BI tools come in. They create a way to view metrics and run reports that merge and fuse disparate information in one place.

 

How are MAdTech BI tools different from other BI tools?

Typical BI tools rely on training and skillsets, including specific technological expertise, that many potential users may not have. In contrast, MAdTech BI tools are simple and easy to use. They do not require extensive training or technological knowledge.

Moreover, marketing data is highly complex and must be aggregated from various platforms to form a cohesive picture. Doing so manually can be a time-intensive process. With MAdTech BI, however, that process is no longer necessary. MAdTech BI platforms will coalesce various data sources into one cohesive unit.

Most BI tools cannot cope with the nuances of the various digital platforms necessary to succeed in today’s marketing world. But MAdTech BI tools, with their high level of automation, can seamlessly incorporate disparate data streams into their analysis. What’s more, MAdTech BI platforms automatically alert media partners and adjust media bids accordingly.

Standard BI platforms are not able to adjust to real-time changes in campaigns and other marketing strategies. Additionally, standard BI tools do not provide the clear and detailed visualizations that users need. MAdTech BI tools offer rich visuals and storytelling dashboards that make metrics easy to view and comprehend.

Here are just a few ways MAdTech BI platforms come out ahead of standard BI:

  • Easy to use, little or no training required
  • Synch and join data together from a variety of relevant, available sources
  • Provide pre-built data visualizations and analytics
  • Use AI and Data Science to analyze data, allowing users to easily assess conclusions
  • Media and marketing specialists provide technical support

The best way to understand the value of MadTech BI tools, of course, is to use them. Most users agree these platforms provide an easy, seamless user experience that typical BI software does not.

Benefits of owning a modern MAdTech BI platform

MAdTech BI tools unify disparate data points, aggregate your data, match consumers across touchpoints, and visualize data on dashboards and scorecards. In other words, they make your data meaningful and useful for decision-making. The technology also makes your data more portable, allowing it to be utilized on smartphones, laptops, and other screens across your organization. The most advanced MAdTech BI platforms use artificial intelligence (“AI”) and machine learning to gather insights, diagnose situations, provide predictions, and make recommendations.

MAdTech BI is crucial because it allows businesses to quickly scan through terabytes or petabytes of data and accelerate their analysis process. Plus, these tools make it easier to track successes, adapt to industry trends, and find the right data points and metrics to explore.

By aggregating data from disparate channels, businesses gain a complete view of their media and marketing operations, their revenue and profit contribution, and their customers, audiences and users. They also improve their targeting, yield, and whatever other effectiveness or efficiency outcomes they seek. Because MAdTech BI tools capture and unify diverse data for you, you’ll save time on what would otherwise be a time-consuming and overwhelming process.

With real-time, standardized data, it becomes far easier to react to market changes… and drive them as well.

 

Why you’ll want to read our next blog post…

Of course, good MAdTech BI technology doesn’t come cheap.

When seeking internal approval of a high-end, B2B technology purchase, you’ll need to make a rational, air-tight case for the platform you’re proposing. You may need to appeal to a wide spectrum of stakeholders. Above all, you’ll need to convince senior decision-makers and finance execs that the purchase will yield important, timely financial and other benefits for your company.

Before they approve such a significant expenditure, operating executives and finance execs will want to see solid, quantitative data on payback time, return on investment, and total cost of ownership over the life of the investment.

Unfortunately, that kind of data is usually hard to track down. But in our next post, we’ll introduce you to a new, free tool that will put that data at your fingertips.

 

Can’t wait for our next post?

This article is an excerpt from iSOCRATES’s new whitepaper, Media and Marketing BI ROI: Determining and Realizing Return on Investment from Media and Marketing Business Intelligence Platforms. Besides what you’ve already read, this new white paper explains how to access and use the new tool just mentioned, how it works, and how to present its results to key decision-makers in your organization.

To get your free copy, click here.

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