Online advertising start-up Reduce Data is an advertising analytics and optimization platform that leverages the power of big data to provide deeper insights into ad campaigns. Their declared aim is to increase media buying efficiency using a combination of real-time analysis, data models, machine learning, proprietary algorithms, and technologies that leverage big data in a cost-conscious manner.
With an estimated 30% average waste ((comScore Introduces Validated Campaign Essentials, a Holistic Measurement Solution That Validates Advertising Impressions and Audiences Reached with Digital Advertising Campaigns)) across online and mobile ad spends, it is quite clear that many performance advertisers do not have the right tools to correctly quantify digital ad spends, therefore remaining unable to identify and eliminate waste. A good number of companies ((Adobe Marketing Cloud, Adometry, C3 Metrics, webtrends, to name but a few)) do offer ad measurement services but, with many advertisers and agencies complaining over the costs of such services, newly launched Reduce Data seems to have found its place.
“We are different because we are focused on real-time optimization first, and on analytics and insights next. Using a real-time, big data platform, we are able to identify redundant users, click fraud, non performing creatives and other issues that impact the campaign ROI,” says Asif Ali, Reduce Data’s founder.
To address the issue of ad budget waste and to optimize ad spends, Reduce Data launched its independent platform built around three core functions:
– Analytics: Reduce Data provides ad network independent analytics at real time with ability to compare campaigns, channels or platforms.;
– Insights: Reduce Data’s real-time analysis delivers key data on user engagement, users across multiple campaigns, and creates comparative funnels for further understanding;
– Recommendations: Advertisers are presented with clearly formulated recommendations on how to reduce waste and optimize ad spends, all the way down to ad creative level. Possible recommendations can include reducing budget on a specific ad network, optimizing a landing page, eliminating poorly performing creatives, increasing budgets on high performing channels, campaigns, or ads.
Founder Asif Ali also walked us through some of the proprietary technologies behind Reduce Data’s platform:
– Ad Signature Rank: Building a real-time data driven ad signature ranking system that systematically up-votes or down-votes campaigns and ads based on signatures of ads.
– Real-time Analysis: Building an on-the-fly real-time analysis system for dozens of configurable rules that depend on dynamic data. The primary objective of this system is to identify spending waste and help optimize spends.
– User signatures: A common user signature across ad platforms and channels understands user profiles, patterns and conversions across campaigns.
– Low latency, low cost, high performance system: latency of 1 ms or lower, while aiming for very low processing cost.
To those curious to check out the user interface, I’m happy to report that it’s very friendly and intuitive – a few screenshots are lined up below.
Headquartered in Silicon Valley, with an office in Chennai, India, Reduce Data’s beta platform has recently raised $0.5 million in funding from private investors in the US. Reduce Data is lead by founder Asif Ali, serial entrepreneur with 15 years experience in the tech and start-up environment, and advised by Rob Schoening, Khurram Zafar, Sameer Sondhi, Suresh Mathai.
More about Reduce Data can be found at www.reducedata.com, Facebook, and Twitter.