Business Insider: PlaceIQ tech helps advertisers make sense of big data
Big data is already enormous and growing exponentially, according to an intelligence report released by Business Insider, and mobile is especially well suited to it.
Data is “being created by those devices, but more data is being created to serve them,” said PlaceIQ CEO Duncan McCall.
As society has shifted from the analog to the digital world, consumers have produced a continuum of more and more data, McCall said. In fact, market research firm IDC has forecasted a 44-fold increase in data volumes between 2009 and 2020. That’s a lot of data!
To make it all meaningful, PlaceIQ stores, analyzes, and creates value from data to produce an extensive profile of a neighborhood’s mobile users. This helps advertises get their messages to the right people at the right time.
“Conceptually, high quality location data represents the holy grail of mobile advertising,” according to the report. “Big data is expected to drive that change.”
PlaceIQ is already harnessing the power of big data to drive results for advertisers. An ad campaign we ran for Starcom MediaVest Group’s retail clients resulted in a massive uplift of in-store visitations. Our exposed group was about 50% more likely to visit our client’s store than those in the control group. See our Place Visit Rate case study for more information on how PlaceIQ is making the most out of this spike of big data.