Data can be classified into first party, second party and third party data. Out of which first party data is readily available as user key in their details in a site either in the login page or the site. Data collected by cookies is also deemed to be of great use.
While second party data is nothing but somebody else’s first party data. And third party data is the data which is bought from an external entity. Third party data can be bought for a price. Data management platform integrates with Ad networks, Ad exchanges, Supply-side platform (SSP) and the Demand-side platform (DSP).
Data collection, the first step
As there is a robust amount of data, it is only logical that data duplication occurs. Different data on the same unit or group is also collected and stored in the DMP. To overcome this, the data of a unit from different sources is integrated by assigning a unique identifier.
Analysing and processing the collected data
As there is a robust amount of data, it is only logical that data duplication occurs. Different data on the same unit or group is also collected and stored in the DMP. To overcome this, the data of a unit from different sources is integrated by assigning a unique identifier.
Organising the processed data
Cataloguing is an important process in itself as the data retrieval should be quick and easy. With that in mind the processed data can be segmented based on their attributes. Some of the common segmentations such as geographic, demographic, domain based, campaign based, etc can be done with the help of Data management platform.
DMP catering marketers needs
Marketers can enjoy a great deal of benefits with the data management platform such as, Customized re-targeting campaigns that can be implemented based on collected data on the user’s specific activities and behaviours. Marketers effectively manage campaigns across different networks/exchanges/publishers Integration with third-party audience data source to acquire anonymous data to achieve higher precision with targeting campaigns
Not just marketers, DMP also for publishers
Not just the marketers, but publishers too enjoy benefits of data management platform quite a bit. DMP ensures the protection of data for publishers to monitor any kind of potential leakage. Better understanding of the type of users’ data from DMP. Also, control data assets, monitors its usage and increases the CPM.DMP would be able to ingest data securely from the publishers’ sites, affiliated partners and combine all data on a single and centralized platform.
In a Nutshell
The DMP proves to be a central pillar in the data driven market by being a centralized platform that collect, compile, analyze and organize the first, second and third party data from online and offline sources. With the DMP, marketers are able utilize the data and arrive at a baseline profile of the audience they intend to target. Marketers also use the processed data to plan, automate their advertising and this information can be used to aid in cross platform advertising.