DMPs play a crucial role in modern business strategies for several reasons: 1. Enhanced Targeting: By creating precise audience segments, businesses can target their marketing efforts more effectively. 2. Improved ROI: Optimized targeting leads to higher ROI on marketing campaigns. 3. Data Integration: DMPs integrate data from multiple sources, providing a holistic view of the customer journey. 4. Regulatory Compliance: Helps businesses comply with data protection regulations such as GDPR or CCPA.