Lotame partners with Dentsu, IPG, GroupM for new Private Data Exchange
Lotame, a leading unstacked data solutions company, recently launched its new and exclusive, private and secure data exchange – Lotame Private Data Exchange (PDX). Today, only 20 per cent of marketers who purchase or use audience data are “very confident” of its accuracy. Lotame PDX has been created in response to market needs for increased data trust, transparency and quality.
Launch partners include major agency holding companies like Dentsu, IPG and GroupM.
Lotame PDX is a curated marketplace of high-quality second-party data sellers, as well as valuable niche third-party data providers from around the world. The exchange will directly connect authenticated sellers of high-quality data with selective buyers in a transparent, flexible and trusted environment. Lotame verifies collection practices and the authenticity of data available through Lotame PDX according to IAB data transparency standards. The standard asks data providers to offer “nutrition labels” for their data, informing segment quality, recency, provenance, criteria and beyond. This ensures advertisers know exactly what they are buying.
“In today’s transparency-driven and privacy-sensitive climate, finding the right data partner is harder than ever,” said Andy Monfried, Founder and CEO, Lotame. “Our post-GDPR world has eroded trust and heightened standards – making the process of vetting partners and understanding data provenance an almost herculean task. Lotame knows that quality and reliability are paramount when choosing a data partner, which is why we have created a venue for highly regarded providers and authenticated sellers.”
Through comprehensive human oversight and auditing, Lotame continuously verifies collection practices and data authenticity per the IAB’s new standards. In doing so, transparency for each seller is passed to Lotame PDX buyers who get clear insight into what they are purchasing and from whom. Meanwhile, for sellers, Lotame PDX offers tools to onboard, organise, monetise and sell data from a secure and centralised platform. Sellers can also control what they sell, at what price and to whom, and how the data may be used.
Lotame PDX makes finding and selling high-quality audiences easier than ever through:
- Direct Connections - Longstanding trusted relationships need 1:1 communication. Lotame PDX provides direct connections between precisely the right people on the buy- and sell-side. Buyers can learn firsthand about a seller’s audience, negotiate privately on commercial terms or brainstorm custom builds with those closest to the audience data.
- Flexible Activation - Many sellers simply don’t have the resources, technology or infrastructure to make their audiences easily accessible to buyers. Lotame PDX removes the barriers to entry for sellers interested in monetising their data. On the buy-side, with a variety of data types, delivery channels and applications, the platform offers advertisers the flexibility to find and activate exactly what they need.
- Trusted Sources - Lotame has developed longstanding relationships with premium buyers and forged trusted partnerships with second-party and niche third-party data providers around the world, spanning a variety of data types – including raw, modeled, OTT, mobile, location and more. Every data partner is vetted and verified to meet industry standards and regional regulatory guidelines, including GDPR and CCPA privacy-compliance standards. They are regularly monitored to ensure data quality and integrity. Similarly, buyers must comply with sellers’ use of data and the private negotiation details of their deals.
Lotame recently tapped Aruna Paramasivam, a recognised data expert in the advertising industry, who will oversee Lotame PDX as GM of the company’s Global Data Marketplace.
“For buyers and sellers alike, the data landscape is more complicated than ever,” said Aruna Paramasivam, GM of Global Data Marketplace, Lotame. “Buyers are concerned about data transparency and are changing the way they spend to focus less on data scale and more on data accuracy. Meanwhile, for sellers, the recent attention around privacy has called into question data quality and its provenance, raising the stakes for providers to curate transparent, high-quality datasets. We are offering both sides peace of mind by building a direct connection to one another and in a safe and private environment. This direct connection will forge data trust in buyers by showing exactly where their data is being sourced and how. For sellers, we are driving revenue by bringing high-end buyers to your private door, who you may not know otherwise. This is a solution built on transparency, flexibility and trust.”
Lotame PDX is the result of a year-long process, with Lotame merging its Lotame Syndicate Seller and 2nd Party Data Marketplace, while adding valuable niche third-party data providers and a new suite of tools for buyers and sellers.