For the past few years, we’ve been hearing the buzz words, “big data” without having a tangible, concrete answer around it. What is it and what does it actually mean?
With hundreds of millions of devices in people’s hands, and millions of more people coming online every year, there are billions of data points.
The smarter question to ask is, ‘What does big data mean to marketers and advertisers?’ There is a constant quest for understanding target audiences. There are multiple point solutions that try to create a ”digital data-graph” of customers and prospects.
Imagine piles and piles of data that are siloed and don’t actually bridge towards one another. Beyond the imagination, it’s a difficult reality that the digital world grapples with. Marketers need to climb that metaphorical Mt. Everest and get a hawk-eye view from the highest place. But they still need a telescope in hand to zoom down to the minute details of their ecosystem.
But what if there is a foundation to launchpad all of your digital marketing efforts? Yes, there is big data, and it’s only getting bigger and complex. Marketers need a solution that can gather and make sense of their data from critical mass down to individual personas. This requires a Data Management Platform solution. A DMP with cross-channel, cross-platform and cross-attribution capabilities.
What would life be without a DMP? Data scattered everywhere. To have a DMP or to not have a DMP? It’s not a philosophical question, but a frame of mind.
Forrester’s report helps you get started on how to think about DMPs. Check out Forrester’s DMP report on, “Measurement is a Digital Media Buyer’s Best Friend.”