For no obvious reason, it’s all financial news from Europe today, Dear Reader. We’ll start with Helsinki-based Nosto, which calls itself the “world’s leading Commerce Experience Platform”, although they don’t say by what measure. They just announced a $16 million funding round, which brings total funding to $48.8 million.
Synthetic data is generated using computer algorithms and takes a real data set, then employs AI to learn patterns from that data and finally produces similar data in volume. Gartner projects this area will account for 60% of information for analytics projects by 2024 and it will address the growing need for large volumes of data in the absence of consent for data set harvesting.
Next we have Factor Eleven, based in presumably-lovely Giessen, Germany. Their bold claim is to offer ad buyers a “true alternative to Google and Facebook on the Open Internet”. I found no mention on their website of being purchased by the Amira Investment Holding compan, but advisor GP Bullhound broke the news while tooting its own horn.
Just over one-third of marketers plan to either buy a new CDP (21%) or replace an existing one (13%) this year, according to this Optimove survey. Unfortunately, it doesn’t report how many have a CDP already in place, which would put the other values in perspective. It does seem that CDPs are a relatively low priority: they rank sixth on the list of new systems and eighth on the list of systems to replace.