New Data Sophistication Benchmark to Pave Way for Improvements.
The Interactive Advertising Bureau (IAB) and its Data Center of Excellence have released the IAB Data Maturity Model. This new benchmarking system enables brands, agencies, publishers, and data technology vendors to determine where they or their clients and prospects rank in data usage sophistication, guiding further investment, implementation, and strategy. The model is detailed in both a whitepaper entitled “Data Maturity Model for Digital Advertising” and a companion web site, featuring four customized checklists for self-evaluation.
Criteria within the checklists are broken up into the four main areas of the data lifecycle, allowing companies to see exactly where their strengths and weaknesses lie.
Data Collection – A company’s ability to aggregate all relevant data points from all relevant channels in a timely and efficient manner
Data Processing – A company’s capacity to normalize and store data so it can be accessed quickly and easily for further research and analysis
Data Activation – A company’s proficiency in making relevant data points actionable across all systems and use cases
Organizational Readiness – A company’s internal awareness, structure, resourcing, and support for data-driven initiatives
Companies will receive a score based on their response to the questions in the checklists. If the organization receives less than 12 overall points, it signifies a low data maturity, while 12-20 denotes a medium level of maturity, and more than 20 indicates the company is at an advanced level. Once company leadership knows their level of data maturity; they can refer to the model to determine some steps for improvement.
“Sophisticated digital data collection and usage provides a competitive advantage in today’s digital media and advertising marketplace,” said Patrick Dolan, Executive Vice President and COO, IAB (pictured top left). “This model is a tool that industry leaders can use to help unlock the value of their data.”
The IAB Data Center of Excellence and its founding members, Acxiom, comScore, Conversant, Experian, GfK, Integral Ad Science, LiveIntent, MediaMath, Nielsen Marketing Cloud, Oracle, and The Weather Company, developed the IAB Data Maturity Model alongside members of the IAB Data Council.
The Interactive Advertising Bureau (IAB) empowers the media and marketing industries to thrive in the digital economy. It is comprised of more than 650 leading media and technology companies that are responsible for selling, delivering, and optimizing digital advertising or marketing campaigns. Together, they account for 86 percent of online advertising in the United States. Working with its member companies, the IAB develops technical standards and best practices and fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. The organization is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the IAB advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, the IAB is headquartered in New York City and has a West Coast office in San Francisco.