BDEX, the first and largest consumer data exchange platform (DXP) in the U.S., today announced the launch of a new freemium tool to further enable companies to use first-party data about current and potential customers to improve targeting and reach new customers.
Omni IQ uses profile information from customer and marketing lists to search across all platforms for users who share similar traits. With an accuracy rate of up to 90 percent in identifying the right audience for brands, the new Omni IQ tool allows marketers to uncover household income, gender and birth year of their first-party customer data. BDEX customers will be able to unlock additional data points and access support to improve targeting.
“As we continue to move toward a cookieless future, first-party data will become an increasingly indispensable tool for businesses to find and target new customers by matching their current ones,” said BDEX Co-Founder and CEO David Finkelstein. “Omni IQ is BDEX’s solution to bad advertising. More effective targeting means fewer extraneous ads for the public while still protecting their individual privacy.”
Advertisers will now be able to upload seed files of more than 500 contacts to the platform to quickly uncover new insights. After analyzing the data against the BDEX platform and across more than 5,000 segments aggregated from more than 100 sources, the analytics team uses machine learning to weigh each point. As a result, BDEX is able to provide a highly accurate model of clients’ target consumers. Knowing this information enables marketers to easily create and reach lookalike audiences.
Users can safely scale up their audiences while protecting their customers’ privacy at every step of the process, helping to ensure continued trust between companies and customers. No data within imported lists is tracked by BDEX, further enhancing privacy of customer data.