Adobe is launching a brand new marketplace with an eye upon allowing its audience access to larger volumes of data. And to capture our ever-growing need for more data for various developmental projects, Adobe is bringing in the all new, ‘Audience Marketplace’.
Similar to the company’s pre-existing Audience Manager, the new marketplace expands upon the theme and seeks to address what could be called as certain drawbacks within the audience manager framework.
While the latter did in essence — perform the functions of a data management platform and allowed data to be brought together in one place for use across Adobe’s marketing products, it failed to provide a platform for the actual buying and selling of data, which had to take place outside the adobe platform.
Also, while most DMPs handle mainly third-party data (purchased by the company from data providers like Exelate and Acxiom), as per Ali Bohra, director of product marketing for Audience Manager, second-party data ( a fancy terms for data collected by a company on its own that is shared with its partners) will also play an important role in the enterprise. According to him,
In what we’re calling the data economy, there’s an expanding view of who can buy data and who can sell data,
While the difference may seem like a bit of a giveaway to us data muggles — after all, I don’t care where the data is coming from — the source of the data has strong implications upon its content as well. For one, the second-party data is usually a lot more specific than anything you would get from third-party data. And by a lot, we mean a lot. While the former may come with minute insights into a user’s online activity, sales data, call center data, the latter may just limit itself to demographics and geography related information.
Then there is also the question of availability. Speaking on the topic, Ali Bohra said,
With third-party data, there’s nothing competitively differentiated — if I’m a brand, there’s nothing stopping a competitor from buying the same data on a third-party marketplace.
While of-course, the second-party data is protected by safeguards that enables a seller company to share data only with its chosen partners.
The marketplace is likely to undergo expansion until it covers the entire Adobe Marketing Cloud. What’s more, it has been designed so as to completely prevent any unwanted sharing of personally identifiable information, a blessing in the corporate circles.
Interestingly enough, Adobe wont be populating the much awaited marketplace with its own data, something Bohra explained by labelling Adobe’s philosophy as “agnostic”.