August 19, 2021 -- InvestorsHub NewsWire -- NetworkNewsWire
Editorial Coverage: The idea of gathering and using consumer
data is nothing new, but with the advent of computers, big data
became a burgeoning business as well as a Big Brother specter. With
computers running 24/7/365, businesses began to realize the almost
unlimited amount of user data being gathered provided invaluable
information about consumer trends habits. Most recently, however,
consumers are demanding that their private information remain just
that — private — and data-gathering and collection
companies are committed to providing offerings that cater to
security and privacy. A high-profile indication of this move to
honor consumers is a change Apple made; the company now features a
pop-up message asking consumers if it’s OK to track their activity.
Welcome to the age of “small and wide” data where savvy companies,
including Streamlytics (Profile), are looking to next-generation
technology to meet this new demand. Streamlytics, a first-party
data provider, doesn’t use cookies or tracking in its human-led
data. As other players in the space, including International Business Machines
Corporation (NYSE: IBM), Datadog Inc. (NASDAQ:
DDOG), Splunk Inc. (NASDAQ:
SPLK) and Snowflake Inc. Class A (NYSE: SNOW),
move forward with their strategic planning, they are certainly
paying attention to the call for privacy, governance and compliance
in collecting and using personal information.
- Experts estimate that 70% of organizations will switch to small
and wide data by 2025.
- Streamlytics is a leader in “community-driven data,” a new
category of data collection.
- Streamlytics is entrenched in precisely culling, organizing
data to help customers see blind spots left by today’s
technology.
Click here to view the custom infographic of
the Streamlytics editorial.
A New Type of Data Partner
With more than 1 billion
iPhones in use worldwide along with another 65 million
other Apple devices around as well, Apple has in many ways led the
way in gathering consumer data. Until recently, Apple software
permitted tracking a user’s activity across websites and apps,
although knowledgeable users could disable the process in settings.
The data gathered became invaluable in the world of targeted
marketing. Consumers began to express their displeasure, however,
with no federal data privacy laws on the books, companies and
states are taking it
upon themselves to protect their information. However,
Apple has joined the efforts as well; its iOS 14.5 update allows
users to prevent tracking with a simple tap on the screen.
The days of cookies, or packets of data that allow websites and
apps to remember information about a user’s visit, are falling by
the wayside as both consumers and companies are paying more
attention to privacy concerns and regulatory changes. But data is
still essential. As a result, brands are now gathering first-party
data, or information collected directly from customers by brands
for analyzation to personalize experiences and drive new customers
and sales.
A privately held company, Streamlytics is a new type of data
broker/partner. The company focuses on working with consumers with
special attention being given to small and wide data. The company
has initially been involved with the African-American demographic,
comprised of almost 47
million people in the United States and one of the largest
diasporas in the country. The company’s value is further increased
by its patent-pending technology that unifies disparate data, an
innovation in first-party data.
Streamlytics’ approach is straightforward. The company extracts
added insights from smaller data sets using advanced processes to
enhance training data that can be used with artificial intelligence
(“AI”) to help it work more efficiently. The company’s wide-data
analytics include analyzing both structured and unstructured data
sources. The largest first-party data provider of African-American
data, Streamlytics has collected more than 400 million data points from the world’s
largest platforms, such as Amazon, Netflix, Google, Uber and
AppleTV+. The month-over-month growth for data points is an
impressive 123% in one year’s time, from June 2020–June 2021, or
2,900% during the 12 months.
Gartner analysts believe that small and wide data is the data of
the future, at least in part because of its superior 360-degree
view of market trends. Gartner predicts that 70% of
organizations will switch to small and wide data by 2025
because of “hyper-personalization and customer experience
improvement.” Streamlytics is working to leverage changing markets
and economics, positioning itself with a strong solution to capture
market share.
Clture Leads the Way in Data Acquisition
Streamlytics is leading a new category of data company called
“community-driven data.” The benefits of this innovative approach
are many and include fostering inclusion at the societal level and
representation from a branding purview. The company notes that it
values data density more than data measurement, meaning that the
quality of the data outweighs quantity.
Streamlytics’ flagship product is a consumer-face data
acquisition app, Clture. Clture supports consumer demand to control
private data rather than be tracked and followed without
permission. Using Clture, African-American consumers own their
private information through a data license. With Clture, consumers
have choices and a voice in the process of data collection.
The app even allows consumers sell their data if they choose;
users can identify their own price via Streamlytics proprietary
data value algorithms. Through this model of paying consumers for
their data, Streamlytics collects a comprehensive set of consumer,
demographic, and consented data. Competitors’ marketplace solutions
are far less robust, giving Streamlytics a competitive edge.
Standard, Custom Datastreams Available
Streamlytics is deeply committed to precisely culling and
organizing data in its efforts to help customers see blind spots
left by today’s technology. These voids span not only marketing and
customer acquisition but also competitive intelligence, corporate
strategy, branding and more to optimize various areas of
operations. The company’s model is circular as data consent and
data feed API integration both drive cash flow. The unique platform
has already caught the attention of numerous Tier 1 clients,
including CPG, wireless, automotive and apparel industries, a
powerful indication of the scalability of the application of the
datastream product.
The Miami-based company offers a standard data feed to brands
for $250,000 per year, that is used for more precise execution in
programmatic advertising, saving customers money and increasing
revenue. The standard feed contains over 30 million data points
that customers leverage as seed data. Data equity is critical in
machine learning to accurately reflect changing demographics.
Streamlytics also offers custom datastreams starting at $1.5
million annually where clients can utilize 400+ million datapoints
to not only boost revenue, but to refine marketing, innovate in
product, and increase artificial intelligence accuracy.
Changing Landscape of Data
Streamlytics is leading the way in the changing landscape of
data. It works closely with its human data partners who have
actually consented to data collection. Then and only then does
Streamlytics run the gathered information through an extensive data
processing system that cleans and enhances it. The data comes from
upper echelon providers. For example, video streaming viewership
comes from Amazon and YouTube; location data from Google Maps;
audio streaming from Spotify and Audible; cross-device engagement
data comes from smart speakers and TVs; gender and age data are
provided at registration; and purchasing data is collected from
Amazon.
The proprietary platform allows for scalability as evidenced by
the accelerated data point expansion. As Streamlytics continues to
build out its Clture product for the African-American community,
the company is also planning its growth strategy. The next
market in line is the LatinX community, which accounts for
an estimated 18.5% of the U.S. population, or about 60.6 million
people.
Evolution of Technology
Major players in data collection can’t ignore the rising demand
from consumers to honor privacy and security. As these companies
move forward with their plans for growth, an awareness of these
changes to consumer privacy must inform the inevitable evolution in
technology as companies do their best across multiple verticals in
a constantly changing digital climate.
International Business Machines
Corporation (NYSE: IBM) is committed to
helping clients generate business value from data and AI to create
new customer experiences and redefine operations. As part of that
strategy, the company recently inked a
deal to acquire Bluetab Solutions Group S.L. The move will
extend IBM’s portfolio of data and hybrid cloud consulting services
as Bluetab becomes a strategic part of IBM’s data services
consulting practice to further advance its hybrid cloud and AI
strategy.
Datadog Inc. (NASDAQ:
DDOG), the monitoring and security platform for cloud
applications, just announced
the general availability of Database Monitoring (“DBM”).
With insights into query performance and explain plans as well as
automatic correlation of query metrics with application and
infrastructure metrics, DBM provides engineers and database
administrators the visibility they need to quickly find and fix
application performance issues that arise from slow running
database queries.
Splunk Inc. (NASDAQ:
SPLK), provider of the Data-to-Everything Platform,
recently announced
its new Splunk(R) Security Cloud, the only data-centric
modern security operations platform that delivers enterprise-grade
advanced security analytics, automated security operations and
integrated threat intelligence with an open, unparalleled
ecosystem. Splunk Security Cloud brings together best-in-class
security operations solutions that help customers get maximum value
from their data. With Splunk Security Cloud, teams can secure and
manage multi-cloud deployments while remaining agile to adapt to
ever-evolving threats.
Snowflake Inc. Class A (NYSE: SNOW),
the data cloud company, in July launched support for its Unified ID
2.0 to help organizations easily enrich audience data, without
sharing consumers’ personally identifiable information (“PII”).
With Unified ID 2.0 support, Snowflake customers will be able to optimize
their data-first advertising strategies by directly activating
audiences on any platform that has adopted Unified ID 2.0, using
Snowflake’s secure data sharing technology.
In a world where consumers understand the value of their data
and know they can control it, companies that lead out in partnering
with them in the work of data collection are in a prime position to
succeed.
For more information about Streamlytics, please
visit Streamlytics.
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