Measuring the impact of in-market investments can be like finding the proverbial needle in a haystack. Combining the granularity of panel-data and the heft of Big Data can make finding that needle a lot easier.
Oracle Data Cloud showed how they bring the two data sources together, offering the following insights:
- Causal measurement products empower advertisers to make better investment decisions through mathematically rigorous, scientifically valid measurement that estimates true incremental value of those investments.
- Challenges to digital measurement include identity, platforms, data, statistics, and momentum. Foundational accuracy is essential.
- Panel-based analyses have benefit of granularity, but lack the scale to measure small statistical differences.
- Big Data-based analyses have the scale to evaluate small differences but lack the descriptive data to explain reasons why.
- Combining both panel-only based approach with big data approach provides adequate statistical power and an accurate estimate of total campaign value.