Josh Dreller, VP of Media Technology and Analytics for Fuor Digital, posted an article today in iMedia entitled “Data Management Platforms and Why You Need One.” The article discusses what a data management platform is, how it should look and feel, and what features are crucial to include. It also discusses how the recent rise in biddable display buying through exchanges has generated a deeper interest in data handling. Here’s an excerpt:
Right now, the DMP is in its larvae stage with a handful of vendors at the front edge of what is bound to become one of the most vital tools in the digital marketing technology stack. The rules are still being written on what a DMP is, how it should look and feel, and what features are crucial to include. A handful of vendors, such as Demdex (recently purchased by Adobe), Lotame, BlueKai, and others, are pioneering this space.
Certainly, the major catalyst that has generated a deeper interest in data handling has been the recent rise of biddable display buying through the exchanges. Data are critical in advanced cookie-buying, and marketers know that better data means better buying decisions on these delivery platforms. But with new solutions, there are new challenges. Data management platforms will help marketers navigate these new waters.
To get more info on DMPs, I turned to Dan Reich, a thought leader in this space who presented Lotame’s DMP, Crowd Control, to me late last year. Reich (now with social commerce startup Spinback, which he co-founded) helped me understand that one of the biggest drivers of DMPs is the need for portability. “If you’re a buyer working with multiple DSP or media environments, you’re limited to what’s plugged in to the DSPs already,” he says. “If you use a DMP, your data assets are portable. You can use it however, and wherever, you want for analytics, reporting, optimization, etc. One of the worst feelings you can have as a marketer is when you realize that you can’t leave a bad vendor because they have a stranglehold on your own data.”
Another thing Reich brings up is the need to manage the security of your data. “What happens when Agency X works for both Coke and Pepsi? That presents a real issue,” he notes. “DMPs are going to play a crucial role to firewall those data networks. It’s going to be hard for brand managers to justify working in a media environment that doesn’t have that architecture in place.”
We encourage you to read the full article here.
