Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

2020 Changed Our Approach to External Data. Here's What to Expect in 2021

The impacts of 2020 in the business world and at home--as much as these things can be separated--will continue to be felt for a long time. At Data Hunters, Eli Adry, a technical digital marketer with a passion for reducing CPA (Cost Per Acquisitions), considers strategies to adopt for the future.


News provided by

Data Hunters

Mar 17, 2021, 18:00 ET

Share this article

Share toX

Share this article

Share toX

Data_Hunters_logo
Data_Hunters_logo

LOS ANGELES, Mar. 17, 2021 /PRNewswire-PRWeb/ -- At Data Hunters, we understand very well how 2020 bashing became the latest craze on TV and social media. Our Facebook, Twitter and even LinkedIn feeds are full of memes, quotes, and inspirational posts waving a happy goodbye to 2020 and happily welcoming 2021. 2020, in fact, was not a great year for the world. The COVID-19 pandemic ran wild, "stay at home" has become the most common pastime, face masks have become fashion and unemployment went to all-time highs.

It was an even stranger year for the tech world. The start of the pandemic stopped everything else. Investments were halted, corporate travel went down to zero, sales slowed down and the end of Q1 and beginning of Q2 left the business, finance, and tech world at a standstill.

Imagine waking up in the middle of the night to get a glass of water, and someone has moved all the furniture. In the same way, data professionals had a choice to make in 2020 – do they feel around and risk bumping their toes on the couch in the dark, or do they turn on the light and reassess?

Post this

Then, something extraordinary happened. Mid-pandemic, tech investments started to pick up again. IPOs continued trending and VCs ended up spending more in 2020 than they did in 2019 (according to research by CB Insights). This was mirrored within the businesses too. Even though trends shifted, and complete industries came to a halt, money was still being spent. Out went travel and retail; in went remote working tools, eCommerce, digital health and – most interestingly – data.

Setting the scene

In practice, data, and more specifically externally collected data ("alternative" or "3rd party"), is used for two major reasons.

BI (aka learning from the past) – Every aspect of the business uses external data to build charts, analyze trends, identify opportunities, and understand gaps and white spaces. Analytics platforms and BI tools offer off-the-shelf or ad hoc solutions that analyze large datasets to track anything from consumer and buyer behavior to drug use adherence or disease spread. These visualizations are used to extract insights and take actions.

Machine learning and advanced analytics (aka predicting the future) – Data scientists use data from the past in order to build complex models that help predict future behavior across a multitude of use cases.

Except – the past became irrelevant.

Imagine waking up at night and needing a glass of water. The apartment is dark, and turning on the lights will wake everyone up. So just get out of bed, walk past the living room and into the kitchen, take a glass and pour a cup. 5% vision, 95% visual memory.

Now, imagine that someone came in and rearranged the furniture and swapped the glasses and plates around. Suddenly, visual memory can't be trusted. The lights have to be turned on. With the new input, visual memory can be retrained, and sleep-walking can resume in a matter of days.

COVID-19 put the whole world of data at a crossroads. ML models instantly stopped working, and BI and analytics stopped making sense. The world changed overnight, industries collapsed against all odds and no past conclusions could have been used in an actionable way.

Large retailers, for example, have used ML models to predict sales and stock shortages based on date, time, day of week, previous purchases and many other parameters. Suddenly, their whole supply chain plan halted because we don't know what type of stay-at-home orders are in each specific state or region, and which stores can remain open.

Turning on the lights – Broad is the new deep

What do people do when they can't count on their memory? They make assumptions based on every bit of information you can from the present. In essence, they turn on the lights, gather as much as possible, and use the new information to navigate through the new world.

On the wings of the COVID-19 crisis, companies have began expanding their horizons to collect and acquire as much data as possible to help them make sense of the situation. Financial institutions have expanded the search for alternative data, CPG and retail companies went on a hunt for any data that will help them decide when to open and how to deliver, and governments, institutes (academia, NGOs and others) and healthcare companies started sharing and collecting as much data as possible about the virus, its spread and government and personal reaction. Companies offering alternative data types such as foot traffic, web traffic, and live company and industry data were well positioned to help the business world understand how to react, and solutions for processing, enriching and translating this data to actionability are often sought out.

What's next

Companies that made the right investment in data starting early on in the COVID-19 Crisis will come out of it with a much broader, better, and more accurate set of data to analyze in the future. Data professionals often bemoan the state of their company's data, wishing to start over and build the whole thing from scratch. Well, COVID is the reset button, and now is the time to start rebuilding. If 2020 was spent building up company data infrastructure and pairing it with the right external data, 2021 will be successful as the world goes COVID-free. If not – it's not too late. Data Hunters can help.

Data Hunters is an online community for data seekers, analysts, scientists, and business professionals. As big data and AI technologies grow exponentially and their implementation in various industries become increasingly mandatory, it can be hard for individuals to know which data sets or data providers to trust. Data Hunters provides a community for people to ask and answer data questions, write reviews of data vendors, and read about data categories and use cases.

Media Contact

Eli Adry, Data Hunters, +972 35173333, [email protected]

SOURCE Data Hunters

Related Links

https://www.data-hunters.com/

Modal title

Data-Hunters-image2
Data-Hunters-image2
Data-Hunters-image2

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.