The Interactive Advertising Bureau (IAB) has taken another step forward to increase marketplace efficiency with the release today of the “Data Segments & Techniques Lexicon,” a new practical tool that provides media planners with a framework for clearer communication with publishers and data partners. This initiative is one of many that the IAB is undertaking in order to make buying and selling more streamlined and consistent across the digital marketing arena, enhancing the potential for further revenue growth for all stakeholders.
The lexicon features four broad categories that define data segments and techniques:
Source: Where is the data acquired? Was it obtained through online or offline collection?
Attribution: What is the relationship between the data collector and the user? Was the data obtained by the owner of the website or from a third party?
Derivation: Which techniques are used to transform source data into a segment? Is segmentation based on information provided by a user or from observed user behavior and other inferred methods?
Modality: What is the temporal state to which the data is being positioned? Is the information descriptive of a user’s current state or is it predicting future behavior?
“Data is an essential marketing element for all of us in the interactive advertising industry, yet up until now, marketers, publishers and agencies have been disadvantaged by a lack of universal terminology,” said Patrick Dolan, Executive Vice President and COO, IAB, and lead of the organization’s Data Council. “By establishing a common lexicon of data segments and collection techniques, the IAB aims to cut through the industry’s vocabulary jumble, simplifying the buying process between media planners and publishers and data providers.”
“Clear communication is vital in creating the kind of efficiencies and clarity we need as an industry,” said Andrew Q. Kraft, Senior Vice President, AMP Publisher Solutions, Collective, and Co-Chair of the IAB Data Council. “The ‘Data Segments & Techniques Lexicon’ offers the marketplace a much-needed language overhaul, allowing for streamlined discussions and, more important, an easier path to media buying.”
The “Data Segments & Techniques Lexicon” is the latest addition to the IAB’s efforts to demystify data and bolster dialogue between media planners, and publishers and data providers. It builds upon last year’s “Data Usage & Control Primer” which addressed and helped resolve the contractual and competitive challenges that surround data usage and collection within the interactive advertising landscape. Both industry efforts were developed by the IAB Data Council, which is dedicated to enabling revenue growth through the establishment of quality, transparency, accountability, and consumer protection in data usage. A full list of council member companies can be found at www.iab.net/data_council.
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