This week’s guest blog post is contributed by Siddharth Gupta, Solution Architect, DMP, Oracle Data Cloud.
Many customers who use a Data Management Platform (DMP) tend to look at the onboarding of data into the DMP as a onetime activity.
The DMP is as good as the data sent to it, and neither your customers nor your data are static.
Understanding and taking ownership of your own data are the first steps to empowering yourself as a marketer. Here are four tips to help maximize the data and technology you use.
There’s lots of data being collected at any given time, and the source of these data signals matters. While each data source could be useful, it’s critical to understand what specific aspect of the customer that data is capturing.
A website’s session data can provide insight into the time spent on the site, for example, but does it give a full view of the customer’s journey?
Similarly, mobile app or email opens data can indicate engagement, but it doesn’t give the full picture. Unless all the available and relevant data sources are combined at scale, the data in the DMP is ineffective.
This is an often overlooked aspect of data and one that really makes a difference in terms of whether a DMP is effective or not.
You can send all your data into the DMP but if there are gaps, inconsistencies, or values that are inaccurate you will end up targeting the wrong set of people with an incorrect message.
A quarterly data audit can yield rich dividends and help avoid blind spots in your data story.
It’s a given that the cookies will decay and every customer's affinity to a behavior is constantly changing.
Using a data source with profile affinity information beyond the standard 30-60-90 day window is ineffective. Given this constant deterioration, the recency of the user profile becomes critical.
A marketer needs to know how the data is manifested in the DMP per data source.
For example, the CRM or email data can be more than a month old even before it is available on the DMP, whereas the website data will be, at most, a few days old.
Unless you know the freshness or recency of your data, you cannot create the most efficient segments for your campaigns.
In the current big data and cloud environment, storage is not an issue so, “why not use all the data that’s available,” is a question that has lost its cost impediment.
But, all the data doesn't mean that the data is effective or useful. More data doesn’t always translate into a better use of the DMP. Marketers need to understand and verify whether the dataset you are working with is the right one to inform the use cases.
Granularity of data can offer detail, but scale also is important. A balance between the two is required for making the best use of your data in the DMP.
The more you understand the data, the better you understand the customer you market to.
Remember that your customers are human with a fickle nature.
Understanding and marketing to them through a DMP is only as good as the data in it.
Learn more about the DMP from the Oracle Data Cloud blog.
About Siddharth Gupta
As the Sr. Platform Architect for Oracle Data Cloud’s DMP, Siddharth helps large global enterprise clients architect their data solutions.
Siddharth brings more than 15 years of experience in technology and data, as he focuses on helping identify, curate and design the appropriate data for the DMP, as well as helping clients craft their digital marketing strategy by maximizing value from existing assets.