If you haven’t explored data collaboration solutions that can help you understand your customers better while preserving data privacy, you might miss the boat on a significant trend. According to recent research from the Winterberry Group, sponsored by LiveRamp, the majority of surveyed marketing leaders in the U.S. said they are either currently collaborating with other organizations’ first-party data for insights, activation, measurement, or attribution, or have plans to.
The report, “Collaborative Data Solutions: Data and Identity in the Era of Permission,” provides businesses with a much-needed guide to navigating a complicated marketplace and discusses how data collaboration can support a variety of initiatives to strengthen customer intelligence, analytics, and measurement.
The research is based on contributions from more than 50 senior industry experts from both the U.S. and Europe from 26 companies involved in the use of data and data collaboration, ranging from technology providers, data companies and cooperatives, media owners, end-user clients, and brand marketers.
Winterberry Group predicts that 2021 will bring a surge in collaborative data solutions and partnerships across and within companies, both in the U.S. and in Europe, claiming “the gap between data “haves” and “have-less” will be bridged through partnering.” This is due to multiple factors—pending cookie deprecation, increased regulation such as GDPR, restrictions by browsers, and competition for revenue between walled gardens and marketplaces—but also the emergence of new technology to handle the complex needs of multi-level permissioning so access to and usage of data is strictly controlled.
“The rush to explore and adopt collaborative data solutions is about more than the pending death of the cookie, Apple’s IDFA, and regulation,” said Bruce Biegel, Senior Managing Partner of Winterberry Group. “We’re at a critical moment in time where the entire digital ecosystem is going through a fundamental change in approach, where permission-based partnering will be the key to creating new and scalable insights, measurement, and marketing activation. The variety of approaches coming from Europe and the U.S., compliant with the evolving regulatory environment, provide a foundation for next-generation advertising and marketing for brands, media owners, and data and technology providers. With changes coming fast in 2021, now is the time to rethink the future.”
LiveRamp Safe Haven’s Senior Vice President, Vihan Sharma, agrees. He says, “advancement in safe data collaboration is helping brands work together to develop deeper customer intelligence to achieve a competitive advantage. As we enter the next wave of innovation, we expect the world’s leading brands to prioritize global, cloud agnostic solutions that are neutral, rooted in identity, and preserve privacy, trust, and security.”
Safe Haven is LiveRamp’s environment optimized for data partnerships. Built on a foundation of data governance, companies can be confident in providing controlled access to their proprietary data or accessing a partner’s proprietary data to execute strategic initiatives that drive business outcomes. Safe Haven also offers robust product features built for the entire enterprise and enables campaign managers and data scientists alike to securely access and manage data with a suite of highly scalable SaaS applications to activate, measure, and derive valuable insights.
Mr. Sharma goes further, saying “in order for enterprises to accelerate business strategies and results, brands need their own technical data infrastructure that can eliminate first-, second-, and third-party data silos within and across enterprises, and deliver a more holistic, connected view of the consumer.”
Download the full report to read more or email [email protected] to connect with a LiveRamp representative to learn more about LiveRamp Safe Haven.