|[February 04, 2014]
PrecisionDemand Awarded Patent for TV Ad Targeting Technology, Setting Industry Standard for Data-Powered Media Planning
NEW YORK --(Business Wire)--
PrecisionDemand, the leader in data-driven TV ad targeting, has been
awarded a patent for its proprietary automated ad targeting technology.
The patent makes PrecisionDemand the only media company able to
effectively help advertisers leverage Buyer Targeting -- the practice of
mining set top box data, as well as advertiser first-party customer
data, to target TV ads to media with the highest probability of buyer.
"Receiving this patent validates PrecisionDemand's ability to bring
accuracy and accountability to TV advertising," said Jon Mandel,
President and CEO, PrecisionDemand. "Our Seattle-based team of
scientists has developed and fine-tuned a system that has successfully
produced measurable results for all of our advertiser clients, whether
the goal was increased retail sales, spikes in web traffic, call-ins or
other unique metrics."
The patent (US 8,627,359) covers the high-dimensional demographic vector
matching technology that PrecisionDemand uses as one of several methods
in its set top box TV ad targeting system. The basic method consists of
Creating a buyer high dimensional profile
Creating a media high dimensional profile
Calculating vector similarity
Using the similarity score for targeting
"Directly estimating future buyer probabilities based on historical
counts of buyers or view-minutes on media runs into a matching density
problem - the probability of an individual person being a buyer of a
produt and also of being detected in the TV viewing population can be
low, resulting in sparse data in TV media in real-world conditions,"
said Brendan Kitts, Chief Scientist at PrecisionDemand.
"We solve this by enriching individuals with over one thousand
demographic elements, and then calculating the vector match of buyers
with media. Because all persons viewing the media and purchasing the
product are used, the algorithm has excellent scaling and generalization
characteristics. We use several ensemble estimators in Scoring Service
system, but this has proven to be a key method necessary for achieving
ROI in real-world campaigns," Kitts said.
ROI results from using the technique were published last year at IEEE (News - Alert)
ICDM 2013 and are available
on the company's website.
text of the patent, complete with examples of vectors and matching
results, is available on PrecisionDemand.com.
News of the patent first appeared in MediaPost.
PrecisionDemand helps TV buyers deliver quantifiable ROI for their
marketer clients by combining the scale of television with the precision
of online targeting and analytics. PrecisionDemand uses marketers' own
first-party customer data to understand their customers and identify the
most cost-effective and highly-targeted media opportunities. Through the
combination of this data and PrecisionDemand's patented technology,
marketers can now�go beyond traditional measures of reach to deliver
against customized�and specific metrics of success.�Headquartered in
Seattle and New York, the PrecisionDemand team includes industry leading
experts in media, technology, and data analysis.
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