An assessment of real-time data analytics in optimizing digital ads: A case study of an online retailer in Lagos
- Project Research
- 1-5 Chapters
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- Table of Content: Available
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- NGN 5000
Background of the study
Real-time data analytics has revolutionized digital advertising by enabling marketers to optimize campaigns based on instantaneous feedback. Online retailers in Lagos are increasingly leveraging these analytics tools to monitor ad performance, adjust targeting parameters, and refine creative strategies on the fly (Ibrahim, 2023). This study assesses how real-time data analytics contribute to the optimization of digital ads by examining key performance indicators such as click-through rates, conversion metrics, and return on ad spend. The research explores the integration of data analytics with digital advertising platforms, highlighting how real-time insights enable rapid decision-making and more efficient campaign management (Adebayo, 2024). The study also considers challenges such as data overload, privacy concerns, and integration issues that may affect the overall efficiency of digital ad optimization. By combining quantitative performance data with qualitative insights from marketing professionals, the research aims to provide a comprehensive evaluation of the benefits and limitations of real-time data analytics in digital advertising, offering actionable recommendations for online retailers seeking to maximize their ad performance.
Statement of the problem
Online retailers in Lagos face challenges in fully capitalizing on real-time data analytics to optimize digital ad campaigns. Despite the availability of advanced analytics tools, issues such as data integration, privacy concerns, and the complexity of interpreting large volumes of data often impede the ability to make timely adjustments (Chinwe, 2023). This disconnect can result in suboptimal ad performance and inefficient budget allocation. There is a lack of systematic frameworks that link real-time data insights with actionable optimization strategies. This study addresses these challenges by investigating the specific ways in which real-time data analytics influence ad performance and identifying best practices for leveraging these insights to improve digital advertising outcomes (Okeke, 2024).
Objectives of the study:
To evaluate the role of real-time data analytics in digital ad optimization.
To identify challenges in integrating analytics into advertising strategies.
To recommend strategies for enhancing digital ad performance using real-time data.
Research questions:
How does real-time data analytics influence digital ad performance?
What are the key challenges in integrating real-time analytics into digital ad strategies?
How can online retailers optimize their digital ads through real-time data insights?
Significance of the study
This study is significant for online retailers by demonstrating the impact of real-time data analytics on digital ad optimization. Its findings will help marketers refine their ad strategies, improve performance metrics, and achieve better ROI. The research contributes to digital advertising literature by providing a framework for effectively harnessing real-time insights, ultimately supporting more agile and data-driven marketing practices.
Scope and limitations of the study:
This study is limited to assessing the use of real-time data analytics in optimizing digital ads for an online retailer in Lagos, Nigeria, and does not extend to other industries or offline advertising methods.
Definitions of terms:
Real-Time Data Analytics: The process of analyzing data as it is generated to inform immediate decision-making.
Digital Ads: Online advertisements designed to promote products or services.
Optimization: The process of improving ad performance based on data-driven insights.
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