Yada Yada YaData
When it comes to making money with technology a key is knowing who your customers are, what they buy (and why they buy it) — so that you can then offer them the products and services that they need. It is much easier to sell new products and services to existing customers than to attract a new customer — and a great new technology that allows you to discover unique customer segments one that does micro-segmentation.
Recently Microsoft acquired YaData, a company with a software tool that provides advertisers with richer targeting capabilities than they could otherwise have — CRM business intelligence. This software makes money for its users by more pinpoint targeting of what sells and how to offer complimentary offers.
Marketers for years worked with anecdotal information (a successful sale here being exploited in ads, or marketing what the competitors are selling. With micro-segmentation science is now clearly identifying what sells.
One great thing about YaData is that it includes segment discovery. Normally data mining (being able to make “what if I did this?” type of questions based on existing data) requires us humans to make the initial assumption. The problem with this is that our assumptions may be wrong and we waste a lot of time going down a path that is not fruitful.
YaData has behavioral targeting tools within its online advertising platform, which lets marketers provide more focused and relevant advertising. The benefit includes better ROI for advertisers, higher yields for publishers and more on target advertising for consumers. The software discovers and managemes market segments (rather than having people identify the segments as with traditional data mining). YaData uses a search engine, and the system is designed to discover consumer behavior patterns and then sort them into segments. This actually has a name all its own: segmentation relationship management (SRM). The YaData engine can analyze companies’ quantitative databases on the basis of hundreds of variables, in order to create clusters.
Interesting enough, YaData originally received much of its funding from Oracle, only to be sold to Microsoft! Strange world!
Posted on October 16, 2010, in BI, business intelligence, CMR, CRM, customer relationship management and tagged BI, business intelligence, data mining, data warehouse, datamining, Microsoft, Oracle, segmentation relationship management, SRM, YaData. Bookmark the permalink. Leave a comment.