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BizReport : : December 11, 2020

4 Data trends to watch in 2021

With more people shopping online and turning to streaming options for entertainment, consumer data has never been more important. Neither has been the protection of consumer and business data in the digital space. Here are 4 data trends to watch as we head into 2021.

by Kristina Knight

Twinning: privacy and identity

"More state and country privacy laws modeled after GDPR are inevitable in 2021. There's been talk of a federal privacy law in the U.S., which would help the digital advertising industry's compliance efforts. In the meantime, authenticated solutions will suck up a good deal of oxygen until the market gets wise to the risks of email alone as a total and complete solve for privacy concerns. Privacy will be the competitive advantage in 2021, and it will be interlocked with identity solutions that embrace data minimization, true privacy by design, and a non-PII approach," said Andy Monfried, CEO, Lotame.

We can't quit you, cookie

"In a frenetic newscycle, digital advertising remained true to its obsession with the third-party cookie's imminent demise. Google Chrome's announcement in January of its plans to remove third-party cookies set off a firestorm of confusion and panic," said Monfried. "In the months since, a conflation of third-party cookies with third-party data and privacy has proliferated, with the cookie becoming the punching bag in digital advertising. We don't expect 2021 to deviate from that headline dominance as various players across the ecosystem claim cookie independence and revel in the cookie's demise. On the flip side, advertisers will ramp up pressure on publishers to meet their various tracking, targeting, and measurement needs.

More walls will go up for the fortunate few

"We predicted in 2020 that publishers would see the forest through the trees in putting up walls. Some did, but the bigger players are banking on first-party data alone as their lifeboats. As pubs invest more in context and erect walls around first-party data assets, they will face increasing scrutiny to prove ROI and scale. Walled gardens may work in the short term for the likes of the New York Times but mid to small publishers won't survive on context alone. This may lead those players to lean in more aggressively to data enrichment and testing multiple identity solutions, proving their flexibility and agility to meet marketer's needs," said Monfried.

Data quality sparks joy

"Data quality will be digital advertising's "Marie Kondo" moment. As marketers and publishers accelerate first-party data collection, data quality will be the "joy" everyone is looking for. This is a win-win for everyone, including consumers. Out with the old and kluge players and in with higher standards -- and standards! -- for data across the board. As data quality improves, those players without the means to put up walls will lean into data enrichment to bring advertisers accuracy at scale when looking for their customers and next best customers. Those with richer, high quality profiles will see addressability soar," said Monfried.

Tags: advertising, advertising data, consumer data, consumer data trends, data trends, ecommerce data, Lotame, mobile data

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