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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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Same-sex marriage is a hot button topic no matter on which side of the issue you stand. But there can be no denying that same-sex couples are finding an expanding number of options in the U.S. and abroad should they decide to legally wed. The 2010 LGBT Consumer Report explores the household arrangements and behaviors of America's LGBT consumers—in particular, those associated with marriage—compared to America's heterosexual population. You will learn that despite being less than half as likely to be married, lesbian, gay and bisexual adults are 22% more likely than their "straight" counterparts to have recently wed or to be planning nuptials for the next year. Looking for that perfect gift for the newly wed couple? You will also get some shopping tips for identifying favored retailers of lesbian, gay and bisexual shoppers. We'll start by sizing the LGBT market. An estimated 3.7% of the non-Hispanic adult population (7.1 million adults) self-identifies as LGBT, which can be broken down as follows: The average heterosexual adult lives in a household with 1.9 other individuals, including adults and kids. By comparison, the average lesbian shares her home with only 1.6 other people. Gay men live in the smallest households, sharing their home with only one other person, on average. Over a third of gay or bisexual men (38%) share their home with at least one other adult male, compared with only 24% of heterosexual men who live under the same roof as another adult male. Thirty-five percent of gay or bisexual men say they live with one (and only one) other adult male, a living arrangement that has a higher chance of consisting of a same-sex, co-habiting couple. Over half of lesbians or bisexual women (53%) share their home with at least one other adult female, compared with only 23% of heterosexual women who live under the same roof as another adult female. Forty-three percent of lesbian or bisexual women say they live with one (and only one) other adult female, a living arrangement that has a higher chance of consisting of a same-sex, co-habiting couple. Lesbian, Gay and Bisexual adults (LGB) as a group are less than half as likely as heterosexuals to be married. Only 26% of LGB adults are wed, compared with 57% of “straight” adults. Of all LGB adults, bisexuals are the most likely group to be married, with over 4 in 10 reporting they are presently wed. Lesbians are more than four and a half times more likely than gay men to be married, with 23% of lesbians having tied the knot versus only 5% of gay men. Lesbian, gay and bisexual adults as a group are 22% more likely than heterosexual adults to have either tied the knot in the last 12 months or have plans to wed in the coming year. 5.7% of lesbian, gay or bisexual adults are newly weds or “soonly” weds vs. 4.6% of heterosexual adults. Lesbian, gay and bisexual adults are twice as likely to shop at Neiman Marcus, making the department store the number one retailer with a wedding registry program among LGB shoppers. With many retailers ending their registry programs in favor of gift cards, we looked at how stores without registry programs stack up among lesbian, gay and bisexual shoppers. LGB adults are almost twice as likely to shop at J. Crew, making the store the number one retailer without a wedding registry program among LGB shoppers.
With the 82nd Academy Awards® just around the corner and only days before final voting ballots are due back to accounting firm PricewaterhouseCoopers, Experian Simmons is taking a close look at the American movie-going population. In any given month, over 56 million adults (26% of the adult population) make a trip to the cinema to take in a film. Movie-going typically reaches its peak in mid-summer, and 2009 was no exception. Experian Simmons DataStreamSM reports that in July of last year, 32% of adults went to movies, the highest level observed at any point in the year. In October of the same year, the percentage of past-month adult cinema-goers had dropped to just 19%, the lowest point observed in all of 2009. In this month’s Consumer Insights report, Experian Simmons sizes the movie-going audience, examines their receptivity to cinema ads—including pre-show commercials and product placement within films—online movie searches as well as Americans’ penchant for tuning into the Academy Awards. All data comes from the Simmons Summer 2009 National Consumer Study. Two-thirds of the adult population have gone to the movies at least once in the last 6 months. Nearly half (46%) have been in the last 90 days and a quarter (26%) have been in the last month. Young adults are, as expected, more likely to go to the movies than older adults, but adults over 50 outnumber young adults when it comes to raw number of movie-goers as you will see in the following chart. Over 147 million individuals have gone to the movies at least once in the last 6 months. With 20.8 million adults ages 18 to 24 going to the movies in the last 6 months, this age group accounts for only 14% of the movie-going population. Adults ages 50 and over, on the other hand, account for 37% of the movie-going population with over 55 million adults in this age group going to the theater at least once in the last 6 months. Among all adults who had been to the movies at least once in the last 6 months, 68% have been at least once in the last 30 days. Many movie-goers (39%) have been only once in the last month and only 7% have been four or more times. Young adults ages 18 to 24 are much more likely than the average movie-goer to have been to the theater in the last month with 75% reporting having been at least once and 10% having been 4 times or more. Experian Simmons DataStreamSM reports similar trends in past 30 day movie-going for 2008 and 2009 with the peak for this behavior occurring in both years on almost the exact same date. During the week of July 22, 2009 32% of adults reported having been to the theater during the last 30 days and during the week of July 21, 2008, 29% reported going. Cinema Blockbusters that month in ’09 included Bruno and Harry Potter and the Half-Blood Prince. In July of ’08, Mama Mia and The Dark Knight were released. When it comes to product placement in movies, frequent cinema-goers are most likely to respond. In fact, 41% of adults who went to the movies 4 or more times in the last 90 days are classified by the Simmons Movie Product Placement segmentation system as “Emulators,” those consumers who notice, remember and are driven to buy products placed into the context of a film. By comparison, only 28% of consumers who went to a movie only once in the last 90 days are Emulators. Forty-eight percent of Horror film fans say they often pay attention to commercials that show along with movie previews in movie theaters making them the most receptive to cinema advertisements followed by Romantic Comedy fans and Family movie fans. Only 39% of Foreign Language or Independent film fans say they pay attention to such ads. Nearly a quarter of all movie-goers get movie information, reviews or show times online in any given month. Aside from the obvious movie sites, you are likely to find movie information seekers on these sites: Californians like foreign language and independent films, whereas New Englanders have more of a penchant for Comedies and Southerners are among the most likely to see Horror films. Below are the top 5 metro areas for finding adults who say they usually see the three selected movie genres when they go to the theater. One-in-seven American adults tuned into the last Academy Awards® ceremony on ABC, including many non-movie-goers. Nine percent of adults who had not been to the movies even once in the past six months tuned into the last awards show and ultimately comprised 19% of all 2009 Oscar® viewers. Still, the more frequently a consumer goes to the movies, the more likely he or she is to watch the annual Academy Awards® ceremony.