Advertising & Promotion, Mobile Marketing

LiveRamp launches first-ever ‘data scoring initiative’

The data buyers can visit Identity Link Data Store

The initiative is introduced to facilitate the marketers with a system to check the quality of third-party data

The biggest issue that digital marketers face in the present scenario is related to third-party data. Until now, there was no other way to check the quality of third-party data apart from running a campaign and then judging the quality by campaign’s result.  However, LiveRamp, well-known company that offers identity resolution, recently launched a ‘data scoring initiative’ to assess the data from third-parties.

Through this initiative, the buyers can easily connect with third-party quality-testing partners. The data buyers can visit Identity Link Data Store, which is a platform that contains third-party data from outsiders. The buyers can easily find ample of partners in the platform to test the quality of third-party data. One of the third-party quality testing partners is Lucid, which is a survey vendor. It offers Lucid Data Score which is calculated after comparing panel-based surveys to audience segments.

Lucid runs a survey that is made available to those who opt for it in exchange for the incentives. The company can access over 150 panels that contain more than 30 million global customers, so there’s a fair chance that some of the survey takers might even be the customers of the store where marketers are intending to showcase their products. The company then finds the members of the segments by matching their data with the data of survey takers. In this way, it finds the answers that are given by the members of the segments.

The survey is then offered to the general panel, consisting of US consumers and both the survey data are compared. Thus, the resulting quality of data shows the level of effectiveness of targeting specific segment over the entire group. This methodology can then be used to find out whether the campaign will be successful for the intended segment or not.

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