By Gilad Hellerman - CTO
One of the major characteristics of the online-result-based-advertising industry is the huge numbers involved (no, I am not talking about the money, even though that is quite impressive as well, I am talking about impressions, clicks and conversions).
These numbers require special attention both in terms of technology (which I will address in my next post), and in terms of information gathering and analysis, which I will address in this post.What is our goal in all of this information gathering and analysis?Our ultimate goal is decision making, mainly towards campaign optimization, even though there are other decisions we need to make in order to maximize our profits.
In order to empower the user to make better decisions, we need to provide the user with knowledge on which the user can make his decisions. The emphasis is on knowledge as opposed to information since knowledge is actually the result of the procedure of processing the information we are presented with, during its storage in our brain. We make our decisions based on the knowledge rather then based on the information. Our goal therefore should be to process the information for our user so that it will save him some of the processing he will need to do by himself, and add bits of processing he might not have thought about, thus enlarging his knowledge.
How do we turn information into knowledge?
We do that in four major stages:
1. Data gathering
2. Data analysis
3. Deciding what, of the vast number of analyzed data to present.
4. Presenting the data in a way that will make it easiest to use and consume by the user.
Establishing the decisions on knowledge rather then information is the only way to effectively manage this vast amount of data in the online advertising world.
Gilad
