In the effort to monetize their ad inventory, publishers work with multiple partners. That means they need to gather and organize tons of data so they can understand their overall performance and optimize their results. Talk about hours of work… That is where automated reporting solutions save the day. By simplifying the process, speeding up data analysis and reducing inaccuracies due to manual errors, publishers can cut down on the time spent collecting data and dedicate more time focusing on optimizing their apps. With that said, we want to clear up some these common misconceptions. Here are four automated reporting myths we came up with based on what we’ve heard during our demos.
Myth #1: Set it and Forget it.
There is a common belief that when it comes to automated reporting you just set everything up and forget about it. But automation is a journey. While it does cut large amounts of time spent in tedious and non-value added tasks, it still needs your inputs to make the solution flexible to your needs.
Think of it as a long-term relationship; it requires commitment. Relationships with any ad network are dynamic. So is the data that you have coming in. You need to make sure that you put some effort into organizing it in a consistent way to save time and prevent errors later on. With automated reports, you gain this dynamic visibility into your overall performance as well as into the specifics of your business. The precious time you are saving on non-value added tasks and speeding up your analysis gives you a competitive advantage to focus on optimizing your business.
Myth #2: My internal solution is fine. Why change?
Ok, we get it. Your solution 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. Most digital publishers state that aggregating and normalizing data from multiple connections is quite a challenge. A key pain point being maintaining reporting APIs and validating data accuracy.
When you are sifting through all of that data you can run into problems. Make sure your internal solution provides you with consistent data daily, is able to unify all the reports, handles API updates automatically, reports on timeout errors, and has the necessary modules to speed up your analysis. Some tools, including Libring, also include rules for normalization to ensure your data continuously comes in organized. So ask yourself, is my internal solution helping me to stay on top? Am I leaving money on the table? You may want to look into an automated reporting solution. We’ve outlined 5 reasons for doing so.
Myth #3: I need to be highly technical to manage reporting automation tools.
Some data analysis tools might require some technical knowledge, but today there are a lot of solutions out there that are pretty straight forward and easy to use. Make sure that the solution you are subscribing to is the perfect fit for you and your company. Ideally, you also want a tool that makes your data more accessible and digestible across your organization. The last thing you want is to waste time trying to figure out how to use it. You should also make sure the team behind that solution is there for you if you have any questions or problems that may occur.
Myth #4: My data will be used outside of what I would like it to be.
That truth is, certain companies may use your data outside of what you plan to use it for. However, that is the business model for some tools. When the solutions are free to use, the company is also often free to use your data for market research purposes. For some companies, this may not be a big deal. You get to use their solution, they can develop market reports; it’s a pretty even trade off right? Well, that’s up to you. Maybe there is some data you don’t want to share.
If you want to keep your data private, make sure you choose a solution that is committed to privacy. If you have the budget and can make room for a subscription to an automated reporting solution that won’t look to monetize your data in other ways, your data stays your data.
Still not convinced? Take a look at some of our case studies to see real world cases of how automated reporting solutions save people time and increased their revenue.