Truthscores™ Help LBDigital Make Quick Decisions on the Data Quality of Different Sources
While at Truthset we are obsessed with data accuracy, we understand that each client has differing needs, and sometimes reach is more important than accuracy. Our goal is to help our data providers be able to understand that spectrum between reach and accuracy for their datasets and better serve their clients with that knowledge. As our partnership evolves, we love to see providers, like LBDigital make use of our Truthset data in a new way to improve their business and better serve their marketing clients.
How? As part of their commitment to data accuracy, LBDigital, a leading data provider for accurate, privacy-compliant and multi-channel data has been working with Truthset since Q3 2020. From the very beginning, their Truthscores™ for age have ranked them among the top of the pack. In Q1 2021 they were ranked first for the elusive young adult market, ages 18-24, with decent scale. Truthscores™ are an independent standard that allows all parties to understand the quality of a data segment.
LBDigital is continually on the hunt for new sources of data to satisfy their client needs. In Q2 2021, they had the opportunity to try a new data source to increase the scale of their age segments and chose to test the accuracy of the data during their quarterly evaluation by Truthset. This decision proved pivotal as the results of the Q2 data validation showed their Average Truthscore™ had dropped across all age ranges. With Truthset’s help, LBDigital confirmed that while the new source had added scale, it did not maintain accuracy.
But is this necessarily a bad thing? LBDigital recognizes that not all clients have the same requirements; some are looking for scale and reach above all else. For others, a more targeted approach is the ultimate goal.
Now LBD is set up to meet both these needs in a more accurate way. LBDigital created a best practice internally to make it easy to offer clients the right segment for their needs. Using one business rule for clients who want performance, and thus accuracy is a priority, and another, using this new data asset, for clients willing to forego performance for more scale.
This knowledge allowed them to return to their excellent scores in Q3, where once again LBDigital is tied first for the accuracy of their age data segments.
“Data is and has been our only business for 16 years. And we recognize that data quality and data accuracy is paramount for our clients. In the past there has been the risk that when we add a new source of data, we have not immediately been aware of its impact on our overall data quality. The beauty of working with Truthset is that we can now make quick decisions about the data quality and accuracy of new sources and we can be more strategic in creating
combinations to serve our clients' needs and KPI's better,” explained Amy Benicewicz, president of LBDigital.
Want to know more about how Truthscores™ can improve your business? Contact us today.