Summary of the event Data for Media: the value of data for media in the digital age

Data & Analytics & AI | News

26 2023 June

On June 14, S2i Media Solutions organized an exclusive face-to-face event with clients and collaborators from the Media sector, in collaboration with Panel and Domo, in which we had the opportunity to talk about the world of data exploitation and try to solve some of the problems that the sector is currently facing.

The event brought together clients and collaborators from companies in the Media sector such as Público, Grupo Vocento, Prensa Ibérica, Prisa Media, El Mundo, Diario de Navarra, La Voz de Galicia, Grupo Noticias and Hearst España, among others, and was hosted by Nicolás Lamas, CEO of S2i y Marcos Checa, Director of the Data & Analytics unit at Panel.

In addition, we have industry experts such as Pepe Cerezo, specialist in digital strategy and Director of Evoca Media and representatives of technological solutions for data analytics, such as José Manuel Suárez, Partner Account Manager – Iberia of the platform Domo, and Billy Aldea-Martínez, Global Director of the PIANO platform.

The media business facing the challenge of data

Today, the exploitation of data in the media sector is key to increase revenue,, Do grow the customer base and y maximize profitability. The main challenge is to achieve, with the right strategy and tools, capture and exploit all this information in a simple and profitable way, as well as integrate and unify all the divergent data sources that are used, to drive decision making. Nicolás Lamas opened the event with this motto, thanking all those present for their attendance and inviting them to actively participate throughout the day in a mutual exchange of ideas and solutions.

Nicolás Lamas, CEO of S2i and Marcos Checa, Director of Panel Operations.

then started Pepe Cerezo his presentation, stating that there is no organization that has undertaken a digital transformation process that has not been led to design and undertake a strategy linked to the collection, analysis and enhancement of data. The media with the possibility of survival, regardless of their size or the market in which they operate, are those whose organization can become 'data-driven' (data orientation). But, we are aware that the road is not easy. A hyper-fragmented data ecosystem, internal silos, the need to integrate different tools, are some of the challenges that media companies have to respond to imminently.

One of the most important keys to achieve this is knowing what are the main insights of our business and technologically solve the iIntegration of various sources (internal/external). It was then the turn of Billy Village PIANO, a company that offers a platform aimed at discovering your audience, building a better user experience and accelerating business with the value of data and decision making. Billy offered us some very interesting insights about Subscriptions and Advertising in the Media sector, with comparative data for the years 2021-2022 and growth expectations for the coming years. The data is extracted from its own community of platform clients, which offers solutions to obtain personalized conversion experiences, advertising management solutions and subscription management, among others.

Below is the team S2i and the Data & Analytics unit in Panel, presented a jointly developed solution consisting of a Dashboard for Media display and analysis of digital advertising. This solution has been designed with the platform Domo, and allows you to analyze audience behavior, optimize prices for advertising space, track post reports and marketing campaigns, or analyze programming data in real time. Thanks to the RSS connectors provided by Domo, this Dashboard automates the process of searching and downloading news feeds from different sources, and extracts their entities using an NLP (natural language processing) algorithm, integrating them into a single space for later viewing.

Finally, hand in hand with Jose Manuel Suarez, we had the opportunity to know the solution Domo, a cloud-based, low-code data application SaaS platform that enables process and visualize data, make decisions, automate processes and collaborate on the information obtained. In the middle section, Domo For example, it allows merging the data to see how consumers interact with the content, obtain real-time indicators to manage profitability, optimize programmatic advertising, retain the audience thanks to the extraction of key coverage and frequency indicators, and automate reports. Its clients include important communication companies from all over the world.

Round table: practical cases and real experiences

Next we gave way to the Round Table, moderated by Nicolás Lamas and Pepe Cerezo, with the intention of debating and sharing experiences and real cases among all the attendees, and trying to solve some of the problems that the sector is currently facing.

Upon arrival at the event, we had announced the blocks we would be discussing at the round table and asked our guests to vote for their favorites. Among the proposed topics, the most voted were 5, 1 and 3:

In such a fragmented data ecosystem, what is the best way to unify?
How to break internal silos?
What value does the union of data from different sources (internal / external) bring me?
How can the disappearance of cookies affect the data strategy?
What is the balance between internal platform development and an external provider?

The truth is that it was a very enjoyable and relaxed meeting where, in addition, all attendees participated in "think tank" to get the most out of the day and look for solutions that could solve some of these current challenges.

In fact, at the end of the round table, the possibility of promoting, with the collaboration and involvement of all, a platform for the media sector that allows analyzing the behavior of subscription strategies and advertising, and the impact or effect that one generates on the other, considering the potential value that this could have in their organizations.