In less cheery news, the BDEX data exchange found that 25% of device identifiers in U.S. data markets are invalid. They blamed ad fraud as the source of most bad emails and device IDs. On the bright side, BDEX believes data brokers can use analytics to identify and remove many of the bad records.
Luxury Institute: Marketers must make privacy a top brand asset In a survey conducted by Transcend, 98% of 1,000 consumers agreed data privacy is important to them and will be even more critical in the next five years. The Luxury Institute views the management of privacy as a missed opportunity for companies – viewed more as a legal task than a marketing opportunity. They say companies must reverse that and play to win by creating “personal data pods,” so consumers can actively manage their data assets.
Data.world, a collaborative open data community, has raised $26 million in venture funding, putting its total at $71.3 million. Data.world offers data owners an enterprise data catalog with features to simplify finding, governing, and querying information. It also offers low-cost access to thousands of open data sets.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.