In today’s age, marketing is extremely diversified, isn’t it? We use dozens of different channels and social media platforms to market our products.
The problem with that is, we also have to analyze data from these dozens of platforms and sources.
It may not seem like much at the beginning, but for any decent project, the data soon adds up.
More the data, more time it takes to analyze it. Similarly, the chances of the data being corrupted and being a victim of human error increases.
That’s what this article today deals with- marketing data unification from various sources!
Table of Contents
What is market data unification?
I’m sure the phrase is self-explanatory. If it isn’t, read it “marketdata unification”, makes sense now?
So, it’s basically a process of unifying all the data from all your marketing sources (Facebook/ Instagram/ Google Ads / Youtube etc.) under one dashboard.
It doesn’t just mean “looking at different screens under one dashboard”. Rather, the data is truly unified so all the metrics are added and displayed together from all sources.
What are the benefits of market data unification tools?
There are certain platforms that do the heavy lifting for you. With absolutely 0 experience, they bring together all the data from all your sources. Now, why would you want that?
- Eagle’s-eye view: You get a top-down all your data. You instantly know how many clicks, conversions as well as dead users you’re getting across all platforms.
- Double down or cut down on investments: With the top-down view, you’d know which channels are performing the best and worst. This lets you cut down least ROI investments and push that capital towards the platforms performing better.
- Less human error: These MDU platforms have a trained and experienced staff just for this job. Plus, they use various algorithms and AI tools to get things done. Hence, the margin for human error is majorly reduced.
How to unify market data manually?
In case you’d like to do things manually, that’s possible as well. Here are the steps for unifying data manually:
- Identify: all sources and extract all data.
- Standardize your data:: Not all your marketing channels will have the exact same metrics. E.g. one platform may give you “no. of clicks” and the other may give “no. of visitors”. Hence, you need to create a metric where you can fit data from all your channels, under one roof.
- Filter your data: You’d then need to make sure you weed out the errors, missing entries, bots and other data that’s not original/organic or relevant to your research.
Do note that it’s important to establish clear goals and objectives from the start. This keeps you on track, saves time and prevents confusion.
Final words
I’m sure you got a basic idea of what’s market data unification, why it’s important, how to get it done using platforms or even manually.
Of course, the exact steps may be a bit more complex. But hey, this wasn’t a “how to” guide and rather a basic introduction.
In my opinion, it’s best to simply outsource the job to some market data unification platform for the best results.
