Simply put, a DMP is a platform that helps you collect, organize, and activate data from various sources and put it into a usable form. Although DMPs can ingest and manage different types of data, they’re typically used for non-personally identifiable information.
As your customer data accumulates, finding smart solutions for managing and storing that data becomes an essential task. But the right data solution goes beyond just management and storage. DMPs not only help you solve the challenge of collecting and managing complex data sets from all your sources, they also analyze your data for actionable insights, facilitate external data purchase and transfer, and connect with third-party ad networks and exchanges for targeted advertising purchases.
However, DMPs do have some limitations, so it’s important to investigate if a DMP is the right data storage and analysis solution for your company. Depending on the type of data you are working with, your needs may be best met with a different type of data storage system.