The last year has been full of challenges, to say the least. Among those challenges are the pandemic, the evolving privacy landscape, and closed data ecosystems, which have all necessitated new and customizable business solutions.
To help address those challenges, we created Cuebiq Workbench, a data-neutral ecosystem that makes open innovation accessible to all. Our latest white paper, Fueling Innovation With Data: The Power of Platform as a Service, dives into those market challenges and explains how a platform as a service such as Workbench can help you solve for them. It offers specific use cases for advertisers, analysts, and researchers alike to build custom solutions to fit their needs, all in a privacy-enhanced environment. Check out our white paper below to learn more!
Let’s back up and provide some more context on why we built Workbench, as there are multiple industry forces at play that have influenced the need for a platform as a service.
To start, COVID-19 has turned the world on its head, affecting industries from retail, to advertising, to real estate and more. The pandemic has accelerated trends that were already becoming cemented in society, such as the shift away from brick-and-mortar to e-commerce, making it more important than ever to back up new strategies with data.
According to Forrester, the need to become data-driven is recognized across the board: 90% of data and analytics decision makers believe it’s a priority to increase the use of data insights in business decision-making.
What’s more, COVID-19 has introduced entirely new problems for which you may need to build custom solutions.
With mobility data, you can better understand how consumer behaviors are changing as a result of the pandemic — and adjust your strategies accordingly. A platform as a service provides universal access to mobility data, enabling you to build custom workflows to address your evolving needs.
The Privacy Landscape
Additionally, privacy has become an increasingly crucial concern, with new industry regulations going into effect. From GDPR to CPRA to Apple’s ATT enforcement, the privacy landscape is constantly evolving and requiring companies to adapt.
According to a February 2021 report featured in eMarketer, when asked about barriers to successfully engaging their customers, 30% of B2C marketers identified “security/privacy/opt-in compliance issues or concerns” as a problem — it ranked second from the top in a list of 12 barriers. Many companies do not have the privacy resources or expertise to implement high-tech privacy practices.
It makes sense for such companies to use a platform solution that has built in, top-grade, specialized privacy processes to allow for maximum developmental flexibility while minimizing data-specific risk.
The Walled Gardens
Finally, companies do not always have full visibility into their own data, especially if it is housed within the walled gardens, or closed data ecosystems. Relying exclusively on a few powerful companies that opaquely control data and build their own machine-learning models can lead to huge risks in terms of data bias, inequality, and exclusiveness. At the same time, creating an open data ecosystem poses major privacy risks, if the data ends up in the wrong hands.
The solution is once again PaaS, which enables companies to have full transparency into their data and build the custom solutions they need, all in a privacy-enhanced and secure environment.
Now that you know more about why we built our PaaS solution, Workbench, you’re probably wondering what it can do for you. Find out in our white paper.