State of Data 2024 illustrates a time of strategic reassessment and innovation, driven by the necessity for privacy compliance and sustainable, consumer-friendly strategies. Companies that excel in adopting new data technologies and strategies are poised to lead. Conducted by IAB and BWG Strategy between November 2023 and February 2024, this analysis is based on surveys and interviews with over 500 advertising and data decision-makers from brands, agencies, and publishers.
In past years, IAB’s State of Data report highlighted the digital advertising industry’s lack of preparedness for data privacy changes and signal loss, which have significantly altered addressability, measurement, and digital advertising overall. This year’s study, our seventh annual State of Data, now finds the industry fully recognizing the permanence of these challenges, leading to substantial organizational changes including hiring experts, training staff, forming specialized teams, enhancing legal and technological capabilities, and revising advertising strategies.
Key takeaways include:
- The industry has now fully acknowledged the privacy-by-design ecosystem: 95% of data and advertising decision-makers at brands, agencies, and publishers expect continued legislation and signal loss in 2024 and beyond.
- Brands, agencies, and publishers are making significant organizational changes to adapt: Over 80% say the makeup and structure of their organizations have been impacted by legislation and signal loss.
- The market is facing sweeping declines in accessible, high-quality data: About three-in-four advertising and data leaders expect the ability to collect and leverage integral consumer data, including browsing history, PII, and location to be continually reduced while 60% expect the same with demo, user preferences, and behavior.
- Legislation and signal loss have profoundly impacted media planning and buying: Nearly nine-in-ten ad buyers report shifts in personalization tactics, ad spend, and their mix of first, second, and third-party data. Over three-in-four cite selection changes in media channels and KPIs, along with more seller-direct deals.