The digital media is increasingly becoming more complicated and more user data is generated, collected, and stored daily. Besides, agencies, marketers, and publishers need more effective ways to acquire, analyze, and manage audience data beyond the usual suite of analytics tools. Data management platform is one of the most effective solutions to capture this important data, shape it into reliable insights, and utilize it to achieve the desired outcomes.
A data management platform is some kind of data warehouse or a unifying platform that facilitates the collection, organization, and analysis of data from various sources. Indeed, it is the backbone of all data-driven marketing activities. It enables professionals and companies to get unique insights into their current clients and prospects.
According to digital marketing professionals, big data is a crucial instrument for effective marketing campaigns. However, no marketer can do much with raw data. You should sort it, analyze it, and create the right reports to understand what you are handling. This is the primary reason you need a data management platform.
What does a data management platform do?
Here is what you may expect from data management platform and probably learn why you should integrate it into your business operations.
A data management platform collects and organizes raw data from different sources and makes it available to all other relevant platforms such as SSPs, DSPs, and ad exchanges to be utilized for more targeted advertising, content customization, and more. Some experts view DMP as the ‘pipes’ of ad technology as it connects various platforms in a great way that allows marketers to use their audience data when they need it.
How does a data management platform work?
A data management system can collect unstructured user data from different sources such as mobile web, web analytics tools, a point of sale, desktops, social networks, mobile app, online video, and more. A good DMP should acquire audience data beyond the surface level – it should go beyond keyword and URL information.
The system should be able to collect first-party data on specific audience behavior including clicks, downloads, video completions or uploads, interests such as parenting, sports, travel, or demographic details. It can also include socio-economic data, demographic data, influencer, and action data. For instance, a data management platform can collect and organize data then use this information to target a specific ad to mothers who are 25 to 35 years. The bottom line is, the applications of DMP are endless.
Who can use a DMP?
Businesses and professionals from different industries around the world can benefit from a data management platform. The C-level management can rely on the insights offered by a DMP to make informed business decisions. On the other hand, networking or IT professionals can rely on a data management platform to maintain and operate an organization’s system. These professionals can get insights from the system that are helpful when it comes to choosing software, machines, and more.
