I’ve previously written about the cooperation that will be necessary in the identity ecosystem to overcome challenges posed by the demise of cookies and other identifiers, as well as the evolving regulatory landscape. There’s no silver bullet or singular identifier that spells success, but rather, a flexible, multikey approach will allow marketers and media owners to prevail.
If we broaden the scope of this discussion beyond the playbook for identity, cooperation and collaboration are poised to be key themes of data-driven advertising in 2021 as well. Driven by the same dynamics impacting identity, the industry is seeking alternative ways to share data in privacy-safe and scalable ways to effectively target, measure and drive deeper insights — all in the vein of creating better, more consistent consumer experiences.
Data collaboration is not new. A November 2020 survey from Winterberry Group found 81% of brand marketers in the US are currently sharing data or intend to. Now, the pressures to shore up data sourcing and governance practices are pushing the ecosystem to take a privacy-first approach and renew the emphasis on the infrastructures and solutions that drive more privacy compliant cooperation.
In its latest research, Collaborative Data Solutions, Winterberry Group outlines six primary drivers and areas for discussion across brands, media owners and solution providers:
In this new data environment, data cooperatives and data marketplaces have become some of the most accessible forms of collaboration. Many of these solutions have been in market for some time, and the barrier to entry for usage is low. However, there’s room for continued innovation and application with a privacy-first mindset.
No matter the type of collaborative data solution used, the undercurrent to everything in this era is going to be trust. Creating sustainable and scalable ways to share data with an eye toward control, consent and compliance will crumble if the foundation of these partnerships is devoid of trust.
I’m excited about the role TransUnion can play in this more addressable, connected, trusted and transparent era of data cooperation and collaboration.
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