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The Onset of Advertising Technology
Technology has the power to accelerate everything that it touches. While big data analytics has been revolutionary in transforming many industries, nowhere else does it seem truer than what big data analytics has ushered for the advertising industry. With the advent of big data, the communication between a consumer and advertiser has significantly revamped—advertisers now possess the power to comprehend and maximize the demands of consumers and convert them into prospective buyers.
Around three decades ago, advertisements relayed the thoughts on bills posted on walls, commercials on television, or brand promotion announced on the radio. Now with the proliferation of smartphones and internet and the changing habits of consumers, digital forms of advertising are seen picking up pace. With the prominence of social media, consumers today are barraged with thousands of advertisements and brand messages daily. To ensure that the right content is targeted to the right consumer, advertisers also continuously track the value of their inventory in order to drive more informed business decisions.
In this regard, the term, “Adtech” has evolved as the new catchphrase in the market. Concisely, the word refers to the use of software and tools that help advertisers to analyze the relevance of online ad campaigns. Though the technology has been around in the ad space for quite some time, it was never this evident until the rapid boom of big data. Often the word adtech is also referred to as programmatic advertising as analysts use algorithms to determine the right audience for an ad in real-time.