Over the last five years media has changed our lives in significant ways. ‘Cord cutters’ have become part of mainstream society, and Netflix and Amazon have won Emmys left and right. At this point there is so much good media content available at our fingertips it can be overwhelming.
Ben Reid is CEO of Elasticiti – a data analytics consulting and advisory company focused on online media. Now, I was excited to speak with Ben specifically because he has a unique perspective on online media and how media in general is dealing with the data analytics era. It helps that he has been in the industry for well over a decade.
I want to quickly thank Ben for taking the time to chat with me. Data analytics and big data are changing almost every domain. They’ve transformed agriculture, manufacturing, and more. Media is no different.
Over the last 4 years the media and ad-tech industry have undergone a massive change, but for most publishers Big Data is a relatively new concept. Apart from the top 15-20 industry leaders, until recently most publishers did not have a big data infrastructure.
Recently, as in many other domains, there has been a flood of big data implementations. The result? Now many who have the infrastructure do not know what to do with it. This is where Ben and his team have been utilized to great effect in helping automate, optimize and monetize data analytics.
Recently Ben has seen a massive shift to self-service analytics. By self service analytics I am talking about tools like Tableau and Qlikview. These tools require much less of an upfront investment in human capital as they are generally easier to use. Ben’s team has helped media outlets automate these systems. Personally I think for the majority of companies these visualization tools are more than good enough to get by.
Finally, we get to the large bear in the room. How companies grade and rank the success of advertisements – specifically the most expensive of advertisements: television. For decades the end all be all ranking system was the Nielsen rating. In a very broad sense Nielson is a high tech polling company for TV. That comparison is not meant to garner a feeling of confidence in Nielsen.
I am very interested in seeing how data analytics in online media evolves over the next few years, and the impact that will have on rating the success of advertising. I am sure that Ben and his team will have a hand in it one way or another.
You can reach Ben…