The Best Data Management Solutions: The 2024 CRM Industry Leader Awards
Destination CRM, Tuesday, September 3rd, 2024
Emerging technologies such as the Internet of Things (IoT) and artificial intelligence are adding large amounts of data to business systems every minute of the day, amounting to dozens of zettabytes every year.
In a rush to aggregate all that data for analysis, companies often neglect the quality of the data collected from these various sources. IBM estimates that businesses in the United States lose $3.1 trillion yearly due to poor data quality.
That's where data management platforms (DMPs) come in. DMPs collect, organize, and activate customer data from various online, offline, and mobile sources. They then use that data to build detailed customer profiles for targeted advertising and personalization. In a nutshell, data management is the backbone of digital marketing, helping companies better understand their customers.