Oracle’s decision to shut down its advertising business marks a significant moment in the industry’s ongoing transformation. Despite multiple acquisitions, Oracle failed to create a competitive cloud marketing stack, leading to the demise of Oracle Advertising.
Some key challenges faced by Oracle included its reliance on third-party cookies without proper consent, the loss of data-sharing agreements after the Cambridge Analytica scandal, and stricter privacy regulations like GDPR. The shift towards centralized data lakes by brands rather than scattered customer data also contributed to Oracle Advertising’s failure.
But with Oracle Advertising set to shut down on September 30, 2024, brands have the opportunity to build smarter advertising strategies based on first-party data. Audience management, audience enrichment, activation, and measurement can all be improved with a modern data stack that integrates first-party data seamlessly.
In a modern data stack, brands can now access licensable data within their data warehouse, enabling easier segmentation and activation. By enhancing first-party data with partner data and activating it through a customer data platform, brands can achieve better ad targeting and performance.
Activation is also streamlined in a modern data stack, allowing brands to manage profile attributes, audience segmentation, and journey orchestration across various channels. The industry is moving away from third-party cookie-based measurement, emphasizing the need for centralizing user and audience data for accurate analytics and modeling.
As businesses adjust to Oracle Advertising’s shutdown, they must reassess their digital strategies and explore alternative solutions to adapt to market changes. Prioritizing agility and innovation will be crucial for organizations to stay competitive in the evolving advertising landscape.
Overall, Oracle’s exit from the advertising industry highlights the need for brands to embrace new technologies and platforms to thrive in a rapidly changing environment. Adapting to these shifts will be essential for staying ahead in the competitive marketplace.
Article Source
https://www.adweek.com/programmatic/why-oracle-advertising-is-really-shutting-down/
