The Interactive Advertising Bureau’s Data Center of Excellence has unveiled its IAB Data Maturity Model, a benchmarking system designed to help brands, agencies and data technology vendors identify the overall quality of company and client data.
The IAB said the goal is to help companies to understand where their strengths and weaknesses are with their data management initiatives. The model is based on checklists that are broken into four key areas of the data lifecycle:
- Data Collection: The ability to aggregate all relevant data points from all relevant channels in a timely and efficient manner;
- Data Processing: The capacity to normalize and store data so it can be accessed quickly and easily for further research and analysis;
- Data Activation: How quickly and efficiently relevant data points can be made actionable across all systems; and
- Organizational Readiness: A company’s internal awareness, structure, resourcing and support for data-driven initiatives.
“Sophisticated digital data collection and usage provide a competitive advantage in today’s digital media and advertising marketplace,” said Patrick Dolan, EVP and COO of the IAB, in a statement. “This model is a tool that industry leaders can use to help unlock the value of their data.”
The IAB Data Maturity Model was developed by the IAB Data Council and its founding members: Acxiom, comScore, Conversant, Experian, GfK, Integral Ad Science, LiveIntent, MediaMath, Nielsen Marketing Cloud, Oracle and The Weather Company.