Marketers continue to face a challenge when it comes to managing data. Taking a seemingly inexhaustible supply of information, separating out signal from noise and then distilling that into actionable insight is enough to overwhelm pretty much anyone.
But data from Winterberry Group, the Interactive Advertising Bureau (IAB) and the Data & Marketing Association (DMA) showed that US companies are not shying away from the task.
In 2017, the trio projected, US companies will spend $10.05 billion on third-party data intended to provide insight into audiences, and a further $10.13 billion on data activation efforts designed to put those insights into practice.
Out of all types of audience data, the most money—$3.53 billion—will go toward audience data related to omnichannel. That category includes personally identifiable information like name, address and email, along with more general data such as interests and behavior. This type of data, in theory, would allow companies to target audiences across a range of traditional and digital media channels.