The roots of data acquisition go back to 1980’s when the computer microprocessor went main stream. Programmers could set up monitoring locations in different areas, and use telemetry systems to transmit data from the location of the data logger to the monitoring location for analysis and evaluation.
Digital data acquisition includes recording and transmission of physical properties into circuitry and waveforms. The properties are then used to convert analog signals into digital software that analyze and report digital data. The software must support the OS of both the data acquisition system and the computer itself. The interpretation is usually made through software tools such as graphs and charts.
Today, marketing campaigns are dependent on the quality of data acquisition, but keeping a high level of quality is difficult because the data comes from a variety of sources, one of them being social media. Discover’s VP marketing operations at financial services, Colleen Zambole, informs that much of the success of the direct banking business is dependent on data acquisition and the quality. The available data gives them the potential for greater success.
Modern data acquisition is divided into two types; information that the online user provides on purpose and the data acquired by observing the behavior of online users. Jeannette Kocsis, Hare-Hanks’s senior VP for digital strategy, says they use the second method which involves the use of social monitoring, analytics and data collection to create new strategies and respond to customer queries.
Apart from social media, data acquisition is also gaining popularity in online performance marketing. Many performance marketing companies now specialize in data acquisition and they even list this as a service, an example of which can be seen on the Media Whiz company profile.
InterContinental Hotels Group VP for marketing Lincoln Barrett notes the acquired data should be managed with utmost care, as the future of data will be based on the management of a single view across channels.
After acquisition of data, companies usually determine the results and their relevancy to the metrics that were initially set for the campaign. However, it’s not easy as constant updates are required, because the acquired data quickly becomes outdated due to changing consumer tastes. The quality should be top-notch as low quality data can lead to failed offline marketing, social media and online performance marketing efforts.
While many companies are providing data acquisition services, there are risks associated as well. Consumer advocates already say the convenience provided by companies by employing their biometric data comes at a risk of their privacy. As online consumers become more literate about data acquisition, they’re also worried about their private information whenever they visit a particular web page. Customer outage, therefore, is changing the data acquisition polices of companies.
As data acquisition industry continues to grow, companies are mitigating risks of losing customers and web visitors by improving data acquisition tools, describing the data acquisition to consumer, which informs them in advance that their behavior or activity may be tracked to provide them with relevant and interest-based results.