Microsoft office platform
Your DMP will then organize all your data into categories and taxonomies based on the business goals and marketing models that you specify. Use your DMP to collect all your first-party data and acquire second- and third-party data. Third-party data is used to supplement your first- and second-party data to add even more depth and precision to your customer targeting profiles.Īnalyze and act on your data in four stages with a data management platform:
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Essentially, large data aggregators purchase first-party data from publishers and other data owners and collect it into large data sets, which they then make available for purchase through DMPs. Third-party data is data collected from a variety of sources, packaged together, and made available for purchase. Since a DMP can’t run on first-party data alone, second-party data can be used to supplement and scale your first-party data, which allows you to start building audience profiles and generating insights, even if your current customer pool is too small for large-scale analysis. The actual exchange of second-party data is facilitated through DMPs. Second-party data can be purchased or exchanged between companies via mutually beneficial agreements. Second-party data offers you the opportunity to look outside your current customer pool and get information about wider audiences that you may be interested in marketing to. The main difference is that the data is collected firsthand by a different organization-not your own. Like first-party data, second-party data generally includes information about customers and their behaviors, and is collected via direct interactions, pixel tracking, or cookies. Depending on the type of data you are working with, your needs may be best met with a different type of data storage system. 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. 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. But the right data solution goes beyond just management and storage.
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Although DMPs can ingest and manage different types of data, they’re typically used for non-personally identifiable information.Īs your customer data accumulates, finding smart solutions for managing and storing that data becomes an essential task. 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.