Data collection is not something any of us want to do manually. Let’s face it, aggregating and organizing data from tons of reports is time consuming and just plain boring.
Luckily, automated reporting tools can make your job incredibly easy! These solutions do all the hard work for you and grant you more time to strategize. They collect and organize all your scattered data in one place in a simple and meaningful way, and help you translate it into actionable insights.
You certainly don’t want to get your automation solution clogged with disparate data or discrepancies. To avoid mistakes like these ones, we came up with 7 sins you should avoid when aggregating your data.
Wrath: Not organizing your messy data
There are 3 main reasons why you want to keep your data organized: (1) to avoid seeing duplicated data (2) to make it easier to search and sort your data (3) to generate consistent reports.
Think about it, you use multiple ad networks for all your apps. Each network reports data in slightly different way from one another. Remember the game Snake? Imagine you are the developer of a Snake app and are monetizing your user base with 3 ad networks. When setting up each network, you name the app “Snake” in one, “snake” (capitalization does matter!) in another, and in the last one “snake the mobile game”. Each one of those names is going to be sorted as a different app when collected by your automation tool. Whoops.
Don’t fret yet my friend! With an automated normalization you can create common naming conventions so all your data comes into the platform aligned. By creating rules, you can ensure that your data aggregation tool keeps sailing smoothly by automatically renaming line items while it imports into your report center. All hail the one true “Snake”!
Sloth: Collect it and forget it.
A common misconception about data collection is that you can just “collect it and forget it”. Pro tip, never do that. After all, non-synchronized data leads to inaccurate insights.
When it comes to ad revenue reporting, you want a tool that automatically checks data to reflect any adjustment done by your connections. The ad tech ecosystem can be tricky, as data sources tend to make adjustments in ad reporting from time to time creating discrepancies. These changes have an effect on your reports.
Data discrepancies are also particularly common when using mediation platforms, as the data being reported by the mediator can be different than the one reported by an ad network that goes through it. That’s why we recommend using an automated solution that provides an ‘audit’ capability. This enables you to compare metrics between different sources of data so you can spot potential “leaks” quickly.
Lust: Spending time on building an internal solution and updating APIs
You want your developers to focus on building awesome apps! Not spending too much time fidgeting with an internal solution. Dealing with multiple APIs and keeping up with their changes is hard and time consuming. So you need a tool that does all the hard work for you. Even better, using a tool that enables you to pull all your data in a single API call.
An automated reporting tool shouldn’t require you to have a developer by your side to add and remove your connections. So ask yourself how easy it is to add new connections to the platform you’ll be using before opting for one. Integrating a new connection should be as simple as adding credentials and passwords.
Envy: Not using a CPM Optimizer.
You shouldn’t have to envy your competitors’ CPMs! But as one of the core metrics to evaluate your ad revenue, you want to track your daily e-CPM.
Not every solution may have one of these, but a CPM Optimization tool can be your best friend when it comes to setting up better deals with your SSPs. It helps you review your floor prices, allocate inventory smartly and maximize ad revenue. Win win!
Gluttony: Ingesting more data than you really need
Reporting automation tools are exciting! And we understand that you want to jump into the collection process right away. But before you start collecting data, you should identify the metrics you want to see from each connection so you don’t get lost in complexity. By mapping out the metrics that matter to your business in advance and you want to see associated to specific dimensions, you will make your analysis process easier later on.
Save yourself the headache of faulty data collection. Trust us.
Greed: Using free data automation tools
There are a lot of data aggregation platforms out there, but they aren’t all the same. It may seem cost effective to find a free tool that will just gather your data in exchange of having access to it for market research purposes.
But you can get so much more! By investing a little bit each month, you can use a tool that integrates with all the connections you choose and offers the features you need to get the most out your data and reduce the amount of money left on the table.
Hear us out, having data aggregation is one thing, but having the right tool to go granular into that data and generate thoughtful, actionable reports is another. If you spend the time picking the right tool for ad reporting, you’ll see a significant return!
Pride: Being afraid to switch.
We get it. You’ve taken the time and the burden of building an internal solution that works fine and you are happy with it. But it’s always worth ensuring that your ad monetization reporting process is being conducted in the most efficient way.
By reducing the amount of time spent maintaining an internal solution, you are opening up your workforce to a whole new world of possibilities! You will be giving your developers time to update and add new features to your apps. Or maybe they could even come up with a completely new project! The possibilities are endless.
Look at all the pros:
- You are saving time by having a solution that does all the work for you
- You increase the frequency of your analysis.
- You get insights faster, so you can make better decisions sooner.
- You are increasing revenue!
Are there really any cons? Let us answer that for you, no.