In the US, consumer data exchange platform BDEX has launched a 'freemium' tool called Omni IQ, to help companies use first-party data about current and potential customers to improve targeting and reach potential consumers.
BDEX provides privacy-focused machine learning modeling technology that enables B2C companies to use data to understand consumer behavior and intents, and target accordingly. Its new self-service tool, Omni IQ, taps profile information from customer and marketing lists to search across all platforms for users who share similar traits.
The solution allows marketers to add household income, gender and birth year to their first-party customer data. Advertisers can upload seed files of more than 500 contacts to the platform; and after analyzing the data against the BDEX platform and across more than 5,000 segments aggregated from more than 100 sources, the analytics team uses machine learning to weight each point. This enables BDEX to provide a model of clients' target consumers.
BDEX co-founder and CEO David Finkelstein (pictured) comments: 'As we continue to move toward a cookieless future, first-party data will become an increasingly indispensable tool for businesses to find and target new customers by matching their current ones. Omni IQ is BDEX's solution to bad advertising. More effective targeting means fewer extraneous ads for the public while still protecting their individual privacy'.
Web site: www.bdex.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.