Millward Brown, a global leader in brand, media and communications research, today announced the launch of Digital Behavior Analytics (DBA), an advanced analytics solution that gives businesses near real-time access to actionable insights on brand health and marketing campaign performance, using data from search patterns and social media conversations.
"While most companies monitor social and search data today, many do not have the confidence to use it in decision making," said Sarah Walker, Global Lead for Digital Behavior Analytics at Millward Brown. "Millward Brown is tackling this major issue by applying cutting-edge modelling and econometric approaches to identify the meaningful signals in carefully chosen social and search sources."
DBA uses changes in online behaviors to give advertisers real-time feedback on the in-market performance of specific campaigns, allowing them to identify and act on emerging issues and opportunities. DBA also monitors long-term health of brands through changing trends in interest and opinion over time, and can identify when brands are over- or underperforming versus expectations or the category. These 'always on' analyses provide marketers and business managers with consistent metrics that enable them to optimize campaigns and feed long-term strategic decisions.
"Social media and search are double-edged swords. While they offer the potential to understand consumer behavior and perceptions on an unprecedented scale, the sheer volume of data generated can be overwhelming, with the result that marketers often struggle to derive value from it," continued Walker.
"Our mission is to turn 'big data' into 'better data' through sophisticated analysis that can inform decisions. DBA will help businesses to manage their brands 24/7 by being more insightful, more affordable and more actionable."
Millward Brown has pioneered and innovated brand tracking for more than 40 years and DBA represents the ongoing evolution of its model. Currently available in more than 30 countries, DBA can be a stand-alone solution or integrated into a company's core brand tracking solution.