Data Management Platform: The
Complete Guide for 2024

Getting the right ads in front of the right people boosts brand recognition, increases conversion rates, strengthens sales, and maximises profits.

A data management platform can determine which demographics and audiences are more profitable than others. Marketers can allocate more funds to similar audiences with higher conversion rates.

Cross-device targeting entails identifying and delivering advertisements to specific audiences across multiple devices. An omnichannel strategy enables marketers to reach users with consistent messaging across devices such as desktop computers, tablets, smartphones, and televisions. Create a multi-device experience that allows you to target the same audience with personalised advertising campaigns across multiple devices.

Match target audience profiles across screens in order to reach the right people at the right time and through the right channel. To increase engagement and ROI, provide a consistent brand experience across multiple devices using cross-device technology.

Using data management solutions to reach the target audience replaces costly methods. Create detailed audience personas to target and retarget people who visit specific websites and make repeat purchases.

In essence, marketers can select buyers based on previous purchases to reduce ad waste.

A one-on-one relationship with customers is advantageous for business. When used correctly, data can help bridge the gap between buyers and vendors by providing valuable insights. Businesses can discover which products and services their customers prefer, as well as how they respond to promotions and marketing campaigns.

As briefly mentioned above, a DMP can provide valuable insight into your target audience’s behaviour. Your users’ online behaviour and actions can not only help you understand the types of audiences you are currently attracting, but they can also help you make changes to target a completely different audience.

All raw data collected by a DMP is quickly sorted and segmented, providing you with near real-time analytics about your users. As your audience grows and you have access to more data, you can create more granular audience segments for more precise targeting.

However, keep in mind that the ability to scale your data and audience segmentation as your business grows is not a feature of every DMP and is certainly not something that any publisher can do on their own. While a DMP is necessary for storing and managing your data, working with a quality data management partner and platform will allow you to take your revenue to new heights.

Data management solutions aren’t just for solving short-term problems, though they are excellent at that. They also assist agencies in developing long-term strategies. Companies can use them to solve immediate problems, such as excessive advertising spending or promotional content that isn’t reaching the intended audience. They can, however, use the information gleaned from those uses to help them achieve their long-term objectives.

When a business successfully optimises a campaign using their DMP, they can apply what they learned to future campaigns. The more they discover, the more effective their future campaigns will be. They will also achieve success faster and with fewer adjustments. This consistent progress can assist the company in meeting its long-term growth objectives.

Your company’s data is valuable information, and you must protect it. Even technology behemoths like Sony have fallen victim to hackers: a few years ago, they stole the bank information of over 77 million PlayStation users.

Data management solutions employ advanced data encryption technologies as well as strong security features. As a result, using those tools increases the security of your data while decreasing the risk of cybercrime.

As a marketer, you are most likely collecting a large amount of data from various sources. Email, e-commerce, social media, mobile apps, and customer loyalty programmes are some of the more popular channels.

DMPs collect all of that data and store it in one location, so that you get a unified view of your customers across screens and platforms. DMPs will process, organise, and prepare your data, providing a more complete picture and a better understanding of your audience, strategies, and efforts.

Having all of your data in one place allows your teams to work more efficiently. As a result, you will be able to make more informed business decisions in all aspects of your company.

Consider the DMP’s integration capabilities with other marketing and advertising technologies, such as demand-side platforms (DSPs) and customer data platforms (CDPs). Make sure the DMP can integrate with your existing tech stack and provide a seamless experience for your team.

Consider the different types of data sources that the DMP can collect and integrate. Can it collect data from your website, mobile apps, CRM, social media platforms, email marketing platforms, and other important sources for your business?

Examine the data management capabilities of the data management solutions, such as data cleansing, normalisation, and enrichment. Is the DMP capable of real-time data processing? Is it capable of machine learning or AI to assist with data analysis?

Look for a DMP with an easy-to-use and navigate user interface. Consider how you intend to use the platform and how your team intends to interact with it. Check that the DMP has the features and functionalities required for your use case.

Assess the DMP’s scalability and ability to handle large data volumes. Consider whether the platform can handle growth and scale with your company.

Consider the DMP’s cost and whether it is within your budget. Check that the pricing model matches your company’s needs, and think about the potential return on investment (ROI) that the DMP can provide.

Look for a DMP that offers adequate support and training. Consider the level of support you’ll require as well as the resources provided by the data management companies, such as training videos, documentation, and a support team.

Google Cloud offers a unified marketing platform that combines data management and advertising.

Google’s marketing platform is divided into two versions: enterprise and small business. Integration with Google Analytics and its integrated data management platform capabilities is available in the enterprise category.

Visualization, segmentation, reporting, and predictive analytics are among these capabilities.

Amazon Redshift is a component of Amazon Web Services (AWS), a platform that offers cloud computing services on a subscription basis. It particularly, is a fast data warehouse that simplifies data analysis.

 You can set up and start using your DMP in minutes, and you can even try Amazon Redshift for free for few months before committing to one of their payment plans.

Lotame is a privately held company that specialises in providing cutting-edge unstacked data solutions. Lotame Lab, Connect, and Data Exchange are integrated products on its data management platform.

 Lotame Lab is used for audience creation, scaling, and segmentation; Lotame Connect is used for customer data ingestion; and Lotame Data Exchange is used to purchase audience data.

 It takes pride in having an unbundled platform, which means customers only have to purchase what they require.

 It’s also worth noting that its platform is media-agnostic, allowing users to consume data from virtually any source.

Snowflake’s solution style is distinctive, as befits its name: data management as a service. Snowflake provides an infinite amount of computing power for an infinite number of users to assist you in obtaining the insights you require, regardless of the size of your business.

 Snowflake’s performance is exceptional; it can complete an entire set of monthly reports in 45 minutes, whereas it used to take two to three days. It even has its own patented architecture that separates storage and computing for faster, continuous analysis.

 Snowflake can support infinite concurrency due to its architecture’s ability to run multiple computing clusters concurrently without slowing down. Snowflake provides pay-as-you-go, upfront, and monthly pricing options.

Heavyweight database software Oracle Bluekai data management platform is part of Oracle’s Customer Experience (CX) solution.

 The Oracle BlueKai platform integrates seamlessly with Oracle database software, allowing users to link customer experience data with financial data.

 Personalization, segmentation, campaign management, customer acquisition, data activation, smart content, and customer intelligence capabilities are included in the platform, which can handle both B2C and B2B transactions.

As concerns about data privacy and security grow, DMPs may need to adapt to meet new regulations and consumer expectations. To ensure that customers feel in control of their data, DMPs may need to provide more sophisticated privacy controls and opt-in mechanisms.

Customer data platforms (CDPs) and data management platforms (DMPs) are currently separate technologies, but they may converge in the future. DMPs may become more customer-centric and provide deeper insights into individual customers, whereas CDPs may incorporate more data collection.

Customer data platforms (CDPs) and data management platforms (DMPs) are currently separate technologies, but they may converge in the future. DMPs may become more customer-centric and provide deeper insights into individual customers, whereas CDPs may incorporate more data collection.

At the moment, DMPs are primarily focused on digital advertising channels such as display and search. However, as new channels such as connected TV and digital out-of-home emerge, DMPs may need to expand their capabilities in order to support these channels and provide a comprehensive view of customer behaviour.