At 3am, the report and your CPM disagreed Your CPM spiked 28% on two exchanges between midnight and 6am. The platform reported average CPM for the day. Average looked fine. It wasn’t fine. A significant portion of your overnight budget ran at a price that a real-time system would have redirected. The average absorbed the problem and made it invisible. This isn’t a reporting failure. It’s a structural issue. Daily averages are designed to summarise, not to signal. When the signal matters most, in the hours when no one is watching, the summary is all that remains. You paid for…