Collecting behavioral user data, such as affinities, interests, demographics, past purchase data and any other available user-centric information may have a significant, positive impact on user experience and business growth. It is a dynamically evolving area, which involves complex machine-learning algorithms and data mining capabilities. UTILIZATION OF BEHAVIORAL DATA FOR CUSTOMIZED ADS AND/OR CONTENT REQUIRES DEEP DATA MINING ABILITIES.
Data mining is a term used to explain the process of analyzing big data for the purpose of finding interesting patterns, correlations and insights. It is an analogy of the method of extracting rock-solid data from a massive mountain. In the online world, data mining is used to find behavioral patterns of users by analyzing their past online behavior. While one might think of it as an out-of-reach technology, the fact of the matter is that behavioral analysis and targeting tools have become much more accessible today and most valuable – now more than ever. In fact, behavioral targeting is all around us. It is commonly used by online advertisers to deliver customized ads and increase the relevancy and effectiveness of their off-site campaigns. One classic example is the retargeting of ads to segments of visitors who had previously visited the website based on specific behavioral criteria. Another great example would be Facebook’s Lookalike Audiences capabilities. The Lookalike Audiences feature allows advertisers to automatically target people on Facebook who are very similar to the initial seed of audience, which was selected by the advertiser as a highly relevant target audience to its business.
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