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We live in a data-driven world, and businesses need effective data collaboration strategies to remain successful. Before you determine your 2023 and 2024 data collaboration options, it’s essential to understand what data collaboration is. In short, it involves sharing and combining data from multiple sources to better understand a customer base and make informed marketing decisions.
Read on to learn more about our three-step plan to create new data collaboration strategies, how it’s evolving, and what we do to ensure our solutions help maintain your company’s data privacy.
How data collaboration is evolving from 2023 to 2024
Data collaboration strategies continually evolve thanks to changing industry dynamics and new technologies. As we move from 2023 to 2024, we’ll likely see collaboration extending outside businesses, meaning data can be shared with external partnerships in the form of a data ecosystem. A data ecosystem is a platform that combines numerous information points, including packages, algorithms, and cloud-computing services, to allow businesses to store, analyze, and use the data they’ve collected.
To ensure you’re ready for 2024 data collaboration, you’ll need to take a forward-thinking approach toward new data strategies.
How to create efficient data collaboration strategies
Here are our three steps for efficient collaboration to make the most of 2023 data collaboration and prepare for 2024.
Identify your collaboration goal
What are you hoping to gain from data collaboration? Do you understand the audience you’re trying to target and what you want regarding outcomes? To measure your success, you should set short- and long-term goals surrounding data collaboration in 2023 and 2024.
Maximize the value of your data
One of the most important reasons to gather data is to discover in-depth insights into your audience and the effectiveness of your marketing efforts. You’ll be able to identify hidden patterns and pinpoint trends you may not have noticed before. With this information, you can make more strategic marketing decisions to stay competitive in your industry.
Resolve digital identities
Collaborating on data with trusted partners can help you gain a more complete view of your customers by building comprehensive digital profiles. Resolving digital identities can provide greater insight into online and offline behavior of individual consumers, allowing you to better connect with your target audience and boost brand loyalty.
Find an alternative to third-party cookies
Digital privacy regulations are getting more strict, which is why it’s so important to find more secure alternatives to third-party cookies. By collaborating on data, you can gather essential insights without relying on cookies. This means you’ll still get the information you want while complying with privacy regulations.
Choose the right collaboration partner
Before you choose a data collaboration partner, it’s essential to ensure their privacy standards align with yours. How do they collect data and use it ethically and responsibly?
At Experian, we are dedicated to protecting consumers and delivering responsible and transparent data practices. We focus on five Global Data Principles — security, accuracy, fairness, transparency, and inclusion — to ensure we treat data carefully and respectfully while boosting economic growth and resilience in the marketing environment.
When you partner with us for data collaboration, you can trust that your data is protected in a system built for 2023 data collaboration needs — both known and unknown — while still evolving for 2024 and beyond.
Choose a secure environment for collaboration
Data collaboration security is vital to safeguard your business and consumers’ information. You can make sure your new data collaboration options are protected in several ways. We’ve outlined three options below.
Collaboration in clean rooms
Clean rooms are secure, private environments where data is shared and analyzed without exposing the underlying raw data. This ensures that sensitive information remains protected and insights are discovered securely. Experian has vetted clean room partners if this is an option you prefer while still getting industry-leading identity resolution.
Collaboration directly
Collaborating directly with your partner can be a good option if you have robust security measures. Encryption, access controls, and regular audits are essential to maintain data security in direct collaborations.
Collaboration with Experian
We excel at meeting our clients where they are and accommodating their technical capabilities and how they manage their data. We offer a secure and compliant environment for data collaboration. Our data collaboration solutions are designed to protect your data while enabling deeper insights. At Experian, we understand the importance of data privacy, and our platform reflects our commitment to safeguarding your information.
Enable deeper insights and activation with Experian’s data collaboration solution
Data collaboration is crucial in today’s business world, and Experian’s solutions are designed to help you bring together your 2023 and 2024 data collaboration strategies securely and efficiently. With Experian, you can unlock deeper insights, resolve digital identities, and confidently navigate the evolving data privacy landscape.
If you’re looking for the right partner to enhance data collaboration to drive growth and innovation in your business, you’ll find a secure environment and the right partner with Experian. Contact us today to get started.
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If you live in an early primary or caucus state, you’ve probably already had your fill of political advertising. According to The Washington Post, politicians and political groups spent more than $23 million on campaign television ads as of December 1, 2011. With record ad spending predicted for the 2012 election, the rest of the nation will soon be bombarded with television ads “approved by” politicians from the left, right and the center of the political spectrum. Candidates and those groups that support them need to know where to allocate their ad dollars to either connect with their base or reach swing voters. Experian Simmons analyzed the viewing audiences of over 600 broadcast, cable and syndicated TV programs that were measured in our most recent National Consumer Study in order to pinpoint opportunities for politicians to reach partisans and middle of the road voters. This analysis has already gathered the attention of major media outlets, including Entertainment Weekly, The Washington Post, AOL, Huffington Post and more. Below are the entertainment and news programs that score the highest concentration of liberal Democrats among their viewers, Conservative Republicans and Middle-of-the-Road Voters registered with any party. Be sure to check out our free 2011 PoliticalPersonas report in which Experian Simmons delivers the mindset of the American voter, including attitudes, brand preferences and their penchant for social media. You can also check out a similar analysis of TV preferences of political partisans that we conducted last year here and here.
Social media continues to be one of the fastest growing industries online. Between September 2010 and September 2011 visits to Social Networks and Forums have increased by nearly 11% and, if you saw my Internet clock blog last month, social media accounts for nearly a quarter of all time spent online. But when are people engaging with social media the most? We took a look at the UK Internet visits to the Social Networks and Forums category each month between 2009 and 2011. We then averaged those visits across the months to see the seasonal trends with social media. What this shows is that social media usage is at its lowest at the beginning of the year and climbs throughout the course of the year towards a peak in December. Over the last three years December has always seen the peak of online visits and in fact last Christmas Day Facebook overtook Google for the first time ever in terms of UK Internet visits. We know that Christmas is a very social time and a time for sharing messages with loved ones, friends and family, so the increased visits to social networks during December is to be expected. More generally, what this graph shows is that social media observes two seasonal trends. The first is an early summer peak in visits in June, before a decline in visits in July and August. This seasonal dip in July and August can be explained by summer holidays where people are more likely to go abroad and therefore less likely to be using social networks. The second seasonal trend is a recovery in visits in September and October before a yearly peak at Christmas. With students starting university terms, kids going back to school, and the working population returning from holiday this would account for the increased interaction in September and October before the Christmas surge. In particular what we’ve seen in September data is a resurgence in market share of visits to Facebook, which bounced back after the summer dip to account for nearly 52% of all visits to a social network. The message here for brands who want to capitalise on social media traffic is to start implementing their social strategy now rather than waiting for Christmas. As October is the second busiest month of the year for social media visits we are expecting over 800 million hours to be spent on social networks this month, which represents a huge opportunity to engage with new and existing customers online. Follow Hitwise UK on Twitter.