In order to be able to display content or advertising in the digital world as precisely as possible, predictions about the users are necessary. Using these predictions, advertising clients can target their campaigns to specific target groups. However, who guarantees that these predictions are complete, reliable and as precise as possible? The “Better Prediction Initiative” can help here, writes the WEMF in a press release.
With this initiative, WEMF supports publishers, marketers and advertising clients in validating and optimizing their predictions. In doing so, it creates transparency in the advertising market and helps target potential customers and users, the WEMF continues.
Anyone who takes part in the BPI can prove to the advertising market that the predictions meet high quality standards that have been confirmed by an independent and neutral body. This clearly sets the participants apart from those online players who do not provide any insight into their prediction models.
More offers in the future
The initiative’s first offering is the “Prediction Accuracy Check”. It validates the accuracy of online targeting predictions using independent and representative data from WEMF. In a first step, WEMF carried out the validation with Goldbach. Additional offerings will be developed in the future as part of the initiative.
Prediction Accuracy Check (PAC) “Accuracy” in this case shows how close predictions and their results are to the effective values. The PAC compares a publisher or marketer’s online targeting predictions with WEMF survey data.
It is therefore analyzed whether aggregated results of the prediction, such as sociodemographic distributions, interests, purchase intentions and brand preferences, are congruent with the results from the independent and representative WEMF data set. A high congruence between prediction results and the WEMF data means high prediction accuracy. A low congruence indicates that there is potential for optimization.
In addition to checking the congruence, the participant provides a transparent insight into his data and the procedure for creating his prediction. As part of his participation, he is also obliged to work on improving his prediction. After completing the testing process, the participant receives a detailed report of their results and a certificate. With the official labels “Better Prediction Initiative by WEMF” and “Prediction Accuracy Check certified by WEMF”, participants can prove the validity and robustness of their online forecasts to the advertising market.
Swiss market solution
The Better Prediction Initiative and the Prediction Accuracy Check were designed as market solutions from the outset and are now open to all interested market participants. The two major industry associations, the Swiss Advertising Client Association (SWA) and Leading Swiss Agencies (LSA), also support the initiative for more transparency and quality in online targeting.
The WEMF worked with Goldbach for the initial implementation of the PAC. The approach was examined together, particularly with regard to technical feasibility and reliability of the results. Everyone involved is satisfied with the results presented at the Swiss Media Research Day 2023. Thomas Plattner, Director Agency Sales / Dep. Managing Director, Goldbach Audience (Switzerland) AG, says: “The independent validation of our online predictions by WEMF enables us to further improve our approach to potential customers and to ensure they benefit from the high quality of our online targeting offers convince. With the PAC certificate, we are meeting the customer’s request for more transparency and at the same time have an internal yardstick that will support us in the future as we expand and optimize our predictions.» (pd/nil)
2023-10-20 08:21:05
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