At a cache manager of a directed acyclic graph-based data analytic platform, memory usage statistics are obtained from each of a plurality of monitor components on a plurality of worker nodes. The worker nodes have a plurality of tasks executing thereon, and each of the tasks has at least one distributed dataset associated therewith. Each of the worker nodes has a distributed dataset cache. At least one of the following is carried out: increasing a size of a given one of the distributed dataset caches if the memory usage statistics indicate that corresponding ones of the tasks are using too little memory; and decreasing a size of another given one of the distributed dataset caches if the memory usage statistics indicate contention between corresponding ones of the tasks and a corresponding one of the distributed datasets.