Modern companies utilize the power of big data to improve their decision-making processes, achieve efficiency and take proper steps to ensure an increase in revenues and profitability.
What is Data Management?
Data management is the science of ingesting, processing, securing, and storing an organization’s data, where it can be utilized in effective decision-making to increase the outcomes of a business. The last decade has visualized the exponential growth of big data because of the development of hybrid cloud, artificial intelligence, the Internet of Things, and Edge Computing creating more complexity for enterprises to manage.
The data management system in an organization has become a priority as the growth in data collection has created significant difficulties, and general bottlenecks to decision making. The problems are addressed by the teams in the data management systems which are aimed to clean, unify, and secure data. This, further allows the leaders to monitor the insights through dashboards and other data visualization tools, enabling efficient business decisions.
The monitoring also allows the Data management teams to investigate more complex questions, allowing them to overcome more advanced analytical situations like machine learning.
A data management platform is an integrated digital tool or platform that allows businesses to collect, manage and analyze data for business intelligence purposes. DMPs are mostly involved in collecting first, second, and third-party data from online and offline sources.
Many DMPs are run by artificial intelligence algorithms and big data analytics. DMPs collect customers’ information, demographics, and mobile identifiers, such as cookie insights. This in turn provides businesses insights into their audience’s responses.
The digital marketing industry is strongly dependent on DMPs. Without a DMP, it would have been difficult for the marketers to display their advertisements to potential customers.
Many DMPs act similarly to data warehouses. Other DMPs are often integrated with the demand-side platforms that computerize media buying across digital networks so that marketers can utilize cost-effective methods to reach a wide array of audiences. The DMP provides many advantages to the customers which include:
Audience building: Audience building is one of the main processes of DMP. DMPs allow marketers to identify the right groups to target and reach them through an effective campaign. The company’s audience shares a common identifier.
Audience analysis: A marketing company has to closely monitor the performance of advertisements to a specific group of audiences. DMPs could be utilized to determine what elements worked well and what other elements could be improved.
DMP essentially allows the marketers to observe the audiences’ response pre and post-campaign.
Advertising data integration: DMP must have a data integration feature. The feature will allow the collection and integration of information from several sources and transform it into targetable segments.
A good DMP should be able to work simultaneously with any marketing device or replace the marketing tool a company uses.
Cross-device targeting: Marketers are responsible for monitoring various marketing channels, and interpreting the customer’s response from each channel. DMPs allow marketers to design customized marketing campaigns that can be accessed on the user’s device to provide a seamless experience.
Promotes advanced security: Like any other security tool, DMPs must ensure the best security practices to protect the users and their sensitive data. As breaches are becoming common, it exposes the consumer’s personal information and business assets to risk.
Many DMPs are incorporated with extensive encryption capabilities to protect data, and even provide an option for backing it up automatically.
A DMP without a security system will a huge disappointment for any company.
Top 10 data management platforms in 2022:
1. Adobe Audience Manager:
Adobe is one of the famous and widely used software companies. It provides a DMP that offers many features and benefits for a company.
The data management platform helps to build unique audience profiles so that the users can identify the most valuable segments and incorporate them into any digital channel.
The benefits of utilizing the data management platform include:
- The users can go beyond limited, media-based integrations. Adobe Audience manager ties into the whole marketing stack, including the Adobe Experiencing cloud.
- The DMP will allow the users to reimagine audience segmentation by looking past traditional audience segmentation. It provides exceptional control to the users to combine data from traditional segments.
- The application allows the operator to gain complete insight using the company’s data and information from various external sources.
- Adobe Audience Manager helps to collect data efficiently, deliver insights and activate segments in real time to deliver incredible experiences to the users.
Forrester has regarded Adobe audience manager as a DMP leader in the second quarter of 2019. Many reputable companies like Princess, Cruises, Hyatt, and much more leverage Adobe Audience Manager.
Amobee is an independent advertising platform. It is a platform that states that it understands how people consume content. The platform understands that people are constantly being exposed to advertisements, and screens and the broadcasters have to adapt instantly to cope with the interests of the consumers.
The data management platform helps brands, agencies, and media companies to unite the audiences to optimize the results across TV, and digital media including social to leverage a wide range of customers.
The Data Management Platform is a completely owned subsidiary of Singtel, one of the largest communications technology companies in the world, which have more than 675 million subscribers all around the world. The company operates across North America, Europe, the Middle East, Asia, and Australia.
Amobee has even been termed as a leader in Forrester New Wave Report. The report has stated the DMP has robust planning and portfolio management capabilities, the best option for multi-brand companies investing massively in linear and digital video. The platform is well-appreciated by the customers for service and optimization of cross-channel video efforts. The benefits provided by the DMP platform are:
- The application provides a unified advertising platform for TV, CTV, digital and social. One can optimize his advertising campaigns with unified workflows for planning, buying, and measuring resulting in increased performance with Amobee’s advertising solution.
- It goes behind the traditional DSP systems by engaging the audiences across all the media. It sends meaningful messages that run sales by increasing the reach and frequency across TV and digital.
3. Audience Studio by Salesforce:
Audience studio is a digital marketplace with a powerful marketing cloud feature. The application helps companies offer their customers more valuable advertising and media experiences. The cloud-based data platform operates in real-time and unites customer data from all screens and sources into a single view of the individual. This allows the user to analyze the data, helps to understand the customers’ preferences better, and helps to activate the data across any delivery channel.
Audience studio makes it possible to automate compliance and follow the data requirements followed by governments worldwide.
The benefits provided by the Audience Studio by Salesforce include:
- The user’s company does not have to sell the data to the application. The company can segregate and decide the data they are willing to share.
- It maintains the anonymity of the data in the marketplace. First-party data with people’s and companies’ names can not be purchased or sold.
- It is a closed marketplace. The Salesforce Audience Studio customers can purchase or sell the information.
4. Google Marketing Platform:
Google, one of the biggest technology companies provides services on the DMP platform. Google’s Data Management Platform, and Google Marketing Platform provide support to small business solutions.
The products in the Google Marketing platform work in a manner such that the users can plan, purchase, measure, and optimize digital media, and customer experiences in one place. The application unifies DoubleClick’s advertising services and Google’s own analytical, and advertising techniques. The application is mainly used by big advertisers to buy ads on the Internet.
Google Marketing platform with Google Ads and Google Ad manager works complementary targeting different kinds of ad buyers and presents different features to the buyers. The users benefit from dashboarding, data visualization, and easily understandable reporting processes.
The application is utilized by many big organizations that including Zendesk, UNICEF, Lucky Brand, and DELVE.
One of the disadvantages of GMP is the company has to spend an additional amount to get access to more advanced features.
Lotame delivers flexible data solutions to future-proof connectivity and drives performances across all screens. The company promises that marketers, publishers, and platforms rely on their innovative and inter-operatable solutions. Lotame is based in the United States and serves customers in North America, Asia, the Middle East, Africa, and Asia pacific.
It is considered a targeting tool capable of collecting information across all devices thus, helping marketers optimize their strategies to create effective and more successful campaigns. Lotame’s Data Management Platform consists of three integrated products: Lotame Lab, Lotame Connect, and Lotame Exchange.
Some of the benefits provided by the Lotame platform include:
- The Data Management Platform provides flexible solutions so that clients get what they need. The company utilizes a consultative approach to understand and solve the data connectivity issues of the users and help them to increase performance, expand their businesses, and respect consumer choices.
- The company promises to preserve the client’s data connectivity by providing them with a seamless experience. They have integrated with major partner platforms including identity solutions, ad servers, BI tools, DSPs, etc.
- The company promotes greater collaboration and partnership using global reach and local service.
Lotame provides flexible support to the customers but some aspects of the DMP could be improved by automation. It could be useful for modern organizations and prove to be an absolute game changer in the field of data analytics.
6. Nielsen DMP
Nielsen Data Management Platform is a platform that allows clients to manage, customize, activate and analyze the audience data. It helps the client to get a complete view of the data across all the channels and in turn, grants permission to the clients so that they can continuously modify the content across each channel to provide the users with a seamless experience.
The application allows the clients to choose from 60,000 audience segments that are based on Nielsen AI adaptive learning technology.
One of the major benefits provided by the app that seems to overpower others is that it achieves a single view of the customer. The platform single view of the customers across all the channels. It grants permission to the users to the client’s first-party data and helps to provide detailed insights across thousands of consumer attributes.
It allows activating audience data in real-time across all devices and all digital media. The clients can centrally set frequency caps across all other marketing channels to limit how often the ad is displayed and then plan campaigns based on where the audience is in the consumer journey.
Onaudience is a Data Management Platform that makes it simple for the users to analyze customer data from online profiles and automatically generate various reports. It is a global provider of high-quality and custom audience segments for digital advertisers and data enrichment solutions.
The application converts the big data into revenues for advertisers and publishers and offers services and products that effectively enrich and monetize data.
The application was founded in 2016 and the headquarters is located in London, United Kingdom. Some of the benefits provided by OnAudience are:
- It makes it simple for the users to analyze consumer data from online profiles, and generate various reports.
- It helps marketers combine audience attributes based on the desired outcome in the campaigns. One has access to around 27 billion user profiles and shares data with partnering organizations.
- It is the most preferred DSP because it works with many global DSPs. the company has provided leverage to many other adtech companies.
8. Oracle BlueKai Data Management Platform:
It is a cloud-based data management platform that is a part of Oracle marketing and allows clients to personalize online, offline, and mobile marketing campaigns. The company offers third-party data collecting services that collect information from PC and smartphone users’ data to improve the ad marketing campaign for the clients.
The company has 100 million actionable profiles on the platform and the company has collaborated with Facebook, and Twitter for their ad management.
Oracle BlueKai Data Management Platform can be used as a third-party data collecting company and collects information on users surfing the internet the company claims that it does not collect sensitive financial information, adult content, or health issues.
Five important features of the platforms are:
- It unifies the advertising data.
- Helps to build effective audiences.
- Connects across devices
- Analyze audiences and collect insights that can be used in the campaign.
- Activate digital campaigns.
- SAS Data Management:
SAS data management enables the users to update data, tweak processes and analyze the results, freeing the clients up for other projects. The platform utilizes industry-leading integration technology. SAS’s DMP allows the users to access the data and enables the users to set, and reuse the data management rules.
One of the advantages provided by the company is that the users can learn from the free demos and trials that help them to understand if the solution is ideal for the customers to meet their needs.
SAS Data Management Platform provides offers collaboration and true integration support added by the features like message queueing, metadata management, and enhanced administration capabilities.
The Data Management Platform is founded by Joe Root and Tim Spratt and the headquarter is based in London, England. The company follows all the safety norms and the infrastructure allows the publishers and advertisers to reach a wide range of audiences and maintain the security of the first-party data.
The application utilizes first-party data without selling out the users. The system helps to safeguard the relationship between the clients and the audiences.
This Data Management Platform ensures the privacy and security of the consumers by utilizing patented and privacy-preserving on-device technology.
With a large number of Data Management Platform options available in the market, one has to look out for the best system that could be used to deliver the best products and services to the consumers via the clients.DMP can prove to be a boon by reducing the time spent on researching features and pricing in the market. One should carefully choose the right option for his business.
edited and proofread by nikita sharma