SAN FRANCISCO - Dec. 2, 2021 - PRLog -- Truthset, a data accuracy company, announced that it has won the prestigious I-COM Global Data Startup Challenge. Competing with four other startups, Truthset's proprietary method for measuring and scoring the accuracy of record-level consumer data was recognized as a new and innovative standard for accurate demographics in the advertising ecosystem.
The 9th edition of the I-COM Data Startup Challenge was delivered virtually. It showcased the top startups from around the world who leverage value from "Smart Data Marketing" as the central selling point of their product or services.
"It's an honor for us to be recognized by the industry at I-COM considering the quality of our fellow competitors," said Scott. "We believe that we are at the beginning of a data accuracy revolution. Our industry can no longer build multi-billion-dollar systems on a foundation of inaccurate data. Our solution allows buyers to easily select segments that have been "Truthset Scored" in popular data marketplaces and DSPs. Advertisers and their agencies can now easily use accuracy to improve the outcomes of their campaigns."
Truthset's analysis (from Q4 2020) of the most basic of demographics from a public data marketplace reveals opportunities for all data users in the industry to improve their accuracy significantly:
- The number of unique US-based "People-IDs" in one Age/Gender Segment was greater than 1B - meaning there are more people in the segments than actually exist.
- The Avg. Accuracy of any Gender Segment (75 providers) is only 61%! A random coin flip would expect to get this right 50% of the time, but a buyer is charged for the other 39% of the segment that is wrong.
- Within a test of 15 data providers, the accuracy of multicultural segments, e.g., targeting Hispanic consumers, the range of average accuracy was 17% to 70%!
Even if data buyers are aware of these issues, they previously had no way to purchase accurate, verified data. "Truthset Scored" segments are here to fix this, available wherever data is bought/sold (LiveRamp Data Marketplace, Adobe's AAM and TubeMogul, Lotame, The Trade Desk, Xandr, AdSquare, Salesforce/Krux).
"On behalf of I-COM, we're very pleased that a startup offering such a valuable service has won our Startup Challenge," said Andreas Cohen, Chairman of I-COM Global. "Having such an amazing team as well, Truthset is this year's clear winner."
For more information on Truthset, visit www.truthset.io.
About Truthset: Truthset is a data intelligence company focused on verifying the accuracy of record-level consumer data and measuring campaign performance beyond age and gender. Truthset helps companies build trust in data and improve the performance of any data-driven decision. Truthset compiles a likelihood of truth for any individual record that can be used to validate the accuracy of data and power more accurate consumer interactions. For more information, please visit truthset.io.
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