–Videa, an online marketplace for automated television advertising, today launched two new features for its platform that aim to transform some of the largest pain points for media buyers, sellers and researchers. The first is a forecasted ratings tool that brings faster, more efficient and statistically accurate forecasts to an already end-to-end solution – from avail to order to post. The second provides the industry with the ability to avail a full market regardless of the sell side’s access to Videa’s platform. Both are available as of today in the Videa system.
“One of the most laborious and data-intensive processes for researchers and analysts is forecasting ratings. It’s also one of the most important parts of tracking the future performance of a campaign. When they are inaccurate, increased makegoods and more under-delivered spots can result,” said Shereta Williams, president, Videa. “With our newest feature in the Videa platform, we’re making analysts more productive, giving them the information they need efficiently and most importantly, without sacrificing accuracy.”
Videa’s forecasted ratings tool utilizes a bottoms-up approach with proprietary technology that is based on four years of impression data from Nielsen or Comscore and the same data impressions that are appropriate and relevant to the program being forecasted. Machine learning and computer algorithms aggregate impressions and then isolate variability factors that contribute to both the impressions and the program share, e.g. market, station, daypart, week, day of week, time and program. Videa’s technology allows for near unlimited power to pick up viewership patterns and infer future ratings from these patterns, while remaining cost effective.
“Another pain point we hear time and time again through our relationships with some of the country’s top media buyers, is the ability to avail a full market,” said Mary Barnas, vice president of platform adoption at Videa. “That’s why we’ve created this feature for the Videa platform that will give media buyers the ability to avail full markets without the need for the station they’re buying from to be associated with Videa.”
“This is further proof of Videa’s deep understanding of the local TV ad market and their effort to streamline processes through automation and technology,” said Alan Wolk, Co-Founder and Lead Analyst at media consulting firm TV[R]EV. “Having a forecasted ratings tool like this, that leverages innovative technology like machine learning, will allow media buyers, sellers and research analysts to reduce the time spent on what’s historically been a laborious process.”
A case study with results of a recent survey Videa conducted to prove the accuracy of its ratings tool can be found at www.videa.tv/DrivingTVForward.