Programmatic Advertising is a term used in online advertising. It refers to the fully automated and individualized purchase and sale of advertising space in real time. It specifically tailored to users based on the available user data banners delivered. The individualization of advertising space is maintained via an auction process in which, after checking the user relevance to the campaign of the advertisers, the winning bidder will receive the contract and may disqualify the banners. This process usually takes only a few milliseconds. The term Programmatic Advertising is often mistakenly used as a synonym for the term real-time bidding used which merely describes the auction part.