The future of online advertising is big data and algorithms
The challenge facing advertisers and advertising professionals is remaining relevant in the face of a fundamental technological change. Namely, algorithms and big data.
The combination of the two, in the form of automated and real-time buying and selling, is redefining the advertising business model and value proposition.
Advertising is now a world of software, ultra-high-speed networks and processing power, statistics, optimisation, operations research, heuristics, data science and a range of related disciplines all coming together in dealing with large volumes of rapidly changing data.
How advertisers adapt will define their viability in the new world of online advertising. Period.
The trends marrying data and advertising
A number of interconnected trends are coming together to make this world of data.
Over 40% of the world’s population now has access to the internet. This is both a large market for advertisers to go after and a huge source of data. But the explosive uptake of smartphones has also brought on a large number of first-time internet users – fresh eyes for advertisers – and there are many more to come.