Lotame has underscored its pledge to foster data collaboration by introducing Lotame Collaborate. This tool is devised to aid digital marketers and media owners as they transition towards more cooperative tactics in light of the deprecation of third-party cookies. Lotame Collaborate equips digital marketers with increased data portability, analysis, and activation while adhering to updated privacy regulations. The technology company, which delivers data to digital marketers in a more intelligent, speedy, and user-friendly manner, made its announcement from London on February 15, 2024.

Available through Spherical, Lotame's comprehensive and interoperable end-to-end data collaboration platform, the new offering streamlines the process of unlocking and utilising first-party data within organisations and across partners. The introduction of Lotame Collaborate comes in response to the seemingly unstoppable rise in demand for data collaboration technologies, which provide secure environments for safely sharing data, thereby addressing heightened concerns over privacy and security.

Andy Monfried, CEO at Lotame, weighed in on the importance of data collaboration in the current business landscape. "Data collaboration is a fundamental requirement today", he stated. "Unfortunately, fragmented data sets, non-interoperable platforms, and constantly evolving privacy standards have stalled the industry's ability to deliver on true data enablement and collaboration."

Monfried believes that with the latest addition to Spherical, Lotame has significantly improved the efficiency and ease of data collaboration. "With our new offering in Spherical, which we believe is the industry's most intuitive, interoperable, and high-performing data collaboration platform, we are making data collaboration smarter, faster, and easier than ever." 

Spherical, which was launched in January 2023, enables thousands of marketers, agencies, and media owners to carry out analysis and activate the critical data needed to understand and engage consumers. The platform includes well-known users such as RE/MAX LLC, Publicis, and Dentsu. The introduction of Lotame Collaborate provides Spherical users with another tool for managing data.

Lotame Collaborate is an evolved version of Lotame's private and secure data exchange, PDX, launched in 2019. Through this platform, multiple parties are allowed to share permission data. Unlike typical data clean rooms, Lotame Collaborate caters to a company's requirements to enrich, analyse, and activate first-party data with external partners, with the possibility of combining authenticated (logged-in) and non-authenticated (web visitation) data.

Miles Pritchard, Partner, Data and Technology Transformation, OMD EMEA, shed light on the importance of data collaboration in current privacy-focused business models. He said, "Our clients rely on us for our global digital leadership and data transformation capabilities. Lotame, with whom we have partnered for many years, is consistently ahead of the curve in extracting value from data. We have tested early iterations of Lotame Collaborate with great success."

Pritchard implied that data collaboration is becoming a crucial aspect of audience targeting. OMD looks forward to further collaboration with Lotame in delivering innovative and meaningful results for clients.