What is a Data Management Platform?
Whether you are a marketer or a publisher, you probably dream of a utopian state of scaled consumer addressability. But reaching this state hinges on the ability to acquire, analyze, and activate all the data you can about your consumers and their interactions with you across every channel and at every touchpoint you have with them. This is where the Data Management Platform (DMP) comes into play.
In the simplest of senses, a DMP is a real-time database which allows you to collect first-, second-, and third-party data across different channels, analyze and visualize it to understand performance and other business metrics, and further syndicate it to downstream systems to affect your marketing programs.
The DMP is also the foundational platform that allows you to put the data to interesting business uses. The DMP can feed into decisioning and personalization engines to enable you to have individualized conversations with your customer. The data in the DMP can help generate insights and drive models for attribution to help you get a better understanding of what is working and what is not as you engage in complex marketing programs.
In short, the DMP is a repository, a platform which allows you to have a unified, holistic view of your most prized asset — your customer.
Points to Consider
Deciding on the right DMP for your needs requires answering some questions about the state of your data assets and your planned business around them. Questions about:
- Data collection needs — What are the types of data assets you intend to collate? How frequently will the data be updated? How many channels do you plan to bring together into one repository?
- Data management processes – Do you have a defined taxonomy of your data or plan to fall into a predefined one? Will your repository be hierarchical in structure? And if so, how many levels deep does your hierarchy need to be?
- Data access and control business rules – What kind of security model do you need to apply against the data? Are there specific permissioning rules that come into play? Is there any statutory or regulatory policy you need to comply with?
- Data visibility – What are the user interface requirements? Do you need ad hoc reporting capabilities? What does the business need to see of the data assets?
- Data import & export requirements – Will your ingestion process be using pixels or flat file imports? Do you have existing systems into which you need to export the data? What is the frequency of data ingestion and export?
- Ecosystem integration priorities – Should your DMP be connected to downstream DSPs, SSPs, and Exchanges? If yes, which ones are important to you? What other platforms in the ad tech ecosystem should your DMP connect to?
What to Expect After the DMP Implementation
Customer data is one of your most important assets. Choosing the right Data Management Platform is key to being able to leverage your data to help drive your business objectives. Adding a DMP in your marketing technology stack will ensure you can:
- Control your data assets, prevent leakage, monitor usage
- Create segments, better package inventory, put your data to use
- Effectively manage campaigns across different networks/exchanges/publishers
- Better target campaigns to improve response rates, conversion, and brand recognition