Wikibon: Advertising Agencies Must Adapt to Big Data or Die Trying

InsightaaS: Jeff Kelly of Wikibon, the open source community of world-leading storage analysts, questions whether the "GIGO" principle that governs the utility of smaller data sets can be meaningfully applied in a big data environment.

 

Everyone knows that the shift from traditional print and broadcast advertising to digital advertising is taking a huge toll on the media industry. Newspapers can’t charge as much for online ads as they do for print ads, and revenues are shrinking precipitously.

But the impact of this shift is being felt not just in the media industry but in the advertising industry itself. Advertising agencies, whose bread and butter is building creative ad campaigns and negotiating print and broadcast ad placement, are likewise under pressure to make the transition to a data-based marketplace.

Google and Facebook’s use of Big Data is putting pressure on traditional advertising agencies.

The pressure is largely coming from Google. According to eMarketer, 22% of ad spend in 2012 was digital, which translates to about $114 billion. The bulk of that money flows through Google...

Read the entire post: http://wikibon.org/blog/advertising-agencies-must-adapt-to-big-data-or-die-trying/