Tuesday 24 April 2018

Edelman Digital @ SXSW 2018

SXSW, the conference that converges technology, creative, and business with data as the common currency that connects everything. Data has long been held the currency of the future – it is the trade that consumers make for free content, the “product” that publishers disclose for premium advertisers, and the pressure for these transactions to be transparent, consistent, and open is increasing.

At SXSW the data conversation was the underpinning of most of the sessions and the availability, flexibility, and “state” of this currency was a common theme. For example, Pinterest is using consumer data to serve better content experiences across their visual search and discovery platform. Pinterest’s Taste Graph will use algorithms and AI technology to translate consumers’ likes and interests to serve up unrelated content that others like them engaged with. Additionally, Pinterest is expanding its visual search technology of image search and buyable pins to serve deeper more relevant discovery and commerce experiences across the platform.

At another session, “More Data, More Problems: Transparency in 2018” brands (Sony and Dell), and agencies’ representatives seem to agree that a standard data regulation and governing entity is needed to ensure that marketers could trust that the data partners they are working aren’t selling them a bill of goods or an unvetted product.  The topic that was not mentioned in this session was message delivered to consumers against their data buying targets. Will consumers agree, or will behavior and actions taken from advertising and messages dictate which data is accurate and messages that are effective?

At the “2018 Emerging Tech Trends Report” session, presented by Amy Webb, the importance of data and how it’s leveraged across technological innovations was the difference between an optimistic view of the future and pessimistic view.  A head in the sand approach to sharing data, innovation, and technology leads further regulation and stagnation in our ability to advance our technical economy. GDRP, new regulations for data sharing in Europe, will have ripple effects to other markets and may put pressure on governments to further regulate data and content across the internet.  These trends are all developing but one thing is for certain, data is the fuel for advancement for innovation and products that will improve our lives.

Consumers are at the center of this debate and our willingness to continue to share our personal data in exchange for content, experiences, and improvements in our lives will drive the value exchange and determine if open data goes too far.

Article source: http://feedproxy.google.com/~r/EdelmanDigital/~3/SpW7GRliYLw/