Sunnyvale, California — Barely a day has passed following the news that Yahoo CEO Scott Thompson is stepping down due to controversy over his resume embellishments, Yahoo Inc., on Tuesday announced Genome, a new data-intensive advertising platform designed to help marketers navigate the wilds of the “big data landscape” on the way to more precise ad targeting and personalization, at Internet Week in New York City.
The new platform seamlessly aligns with Yahoo’s ad partnership with AOL and Microsoft, an agreement to allow the swapping of premium non-reserved online display inventory across respective customer bases, apart from Yahoo’s $270 million acquisition of Interclick.
The scheduled debut of Genome, is set sometime in July, combines Yahoo data, interclick’s third party data and is designed to help companies deliver more targeted online advertising and marketing campaigns,
While also making sense of heaps and heaps of less-structured information, it also provides marketers the most complete, custom audience solution on the web. It is all about assisting marketers tame what Yahoo terms “the confusion of the data ecosystem” in order to build brand value, boost conversion rates, and elevate revenue.
“With Genome, we can help marketers rebuild consumer information and insights into actionable online media executions that facilitates them to attain the right context and audiences,” Rich Riley, Yahoo’s executive vice president for the Americas region, said in a statement.
Moving forward, Yahoo’s Genome announcement comes just a few weeks after Google touted BigQuery, once released, the system will empower online advertisers to sift through and analyze enormous amounts of behavioral and advertising-related data gathered from Yahoo’s networks.
On the other hand, Google’s service varies from Genome in that it is designed to let enterprises use Google infrastructure for analyzing their own data sets for different applications. Genome is targeted specifically at marketers and will allow advertisers bring in their own data, mash it up with Yahoo’s data sets and run analytics on the combination, Yahoo said in a statement.
However, both Genome and BigQuery are a response to what analysts claim is a growing need for technologies that can facilitate companies manage and analyze the massive volumes of data resulting from trends such as cloud computing, mobile computing, social media and globalization.
Riley states, “Marketers have requested us for a solution that capitalizes on our massive data and our answer to that is Genome.”
Regardless of the recent upheaval, Peter Foster, GM of audience advertising at Yahoo said the company’s agenda, as it relates to Genome, will “continue to be focused on our advertiser and agency partners.”
Besides, both Foster and Riley, declined to give further details on the extent Thompson’s sudden departure will impact Yahoo’s endeavors in e-commerce and data-mining projects, which Thompson was supposed to spearhead. Numerous outlets reported that Yahoo’s head of global media Ross Levinsohn will serve as interim CEO.
Below is a clip regarding the new platform:
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